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What is Medicare?
Medicare is health insurance for people age 65 or older, under age 65 with certain disabilities, and any age with End-Stage Renal Disease (permanent kidney failure requiring dialysis or a kidney transplant).
Generally speaking most people who have paid into Medicare during their working lives are entitled to this insurance and do not pay a premium for the coverage.
For those not entitled there is a monthly premium. The premium changes annually in January.
Part A Pays for:
Inpatient hospital care
Inpatient care in a skilled nursing facility following a hospital stay
Generally speaking most retirees who have Part A can also sign up for Part B.
There is a monthly premium for this additional coverage. The premium changes annually in January. If an eligible person refuses coverage now but wants it later they will have to pay an increased premium.
Part B Pays for:
Doctor's services
Outpatient hospital care
Diagnostic testing
Durable Medical Equipment
Ambulance Services
Some health services & supplies not covered by Part A.
Part C is Medicare Advantage Plans:
This is another way to get your Medicare benefits.
Medicare Advantage Plans are managed by private insurance companies approved by
Medicare.
It combines Part A, Part B, and, sometimes, Part D
(prescription drug) coverage.
These plans must cover medically-necessary services.
However, plans can charge different copayments, coinsurance, or deductibles for
these services.
Medicare recipients can change plans at least once
annually.
Part D is
Prescription Drug Coverage:
Helps cover
prescription drugs.
Coverage may help
lower your prescription drug costs and help protect against higher costs in the
future.
Part D plans are
chosen annually. Most have a premium that must be paid monthly and if you
choose to sign up for a plan later than your first entitlement date you will
have to pay an increased premium.
Would you like to find out more about what's going on with Medicare?
Their website is filled with lots of great information you can access.
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The information on this website is provided "as is" for general information purposes only. The content of this website may not be comprehensive, up-to-date, or applicable in all jursdictions. The content may not reflect the views of Montgomery & Associates, Inc. (DBA: ALTCS Planning.net) and Montgomery & Associates, Inc. (DBA: ALTCS Planning.net) makes no warranty of any kind, whether express or implied, with respect to any information provided on this website. Montgomery & Associates, Inc. (DBA: ALTCS Planning.net) assumes no liability for any errors or omissions in the content on this website and the information provided is not to be construed as legal advice. The information is intended to provide a general, factual overview of legal documents and planning options available. For legal matters you should always seek counsel of a qualified attorney licensed in your jurisdiction. Use of any information on this website is at your own risk.
**IMPORTANT NOTICE**
Our CLDP, Carol Aragon-Montgomery, prepares legal documents.OUR CLDP IS NOT AN ATTORNEY AT LAW AND IS NOT EMPLOYED BY ATTORNEYS AT LAW AND CANNOT GIVE LEGAL ADVICE.Your communications with our CLDP are kept CONFIDENTIAL by our CLDP, but since our CLDP is not an attorney at law, such communications are NOT PRIVILEGED (i.e., immune from Subpoena). Our CLDP can give you general factual information pertaining to legal rights, procedures, or options available to you in a legal matter when you are not represented by an attorney.Our CLDP cannot give you specific legal advice, opinions, or recommendations about your legal rights, remedies, defenses, options, or strategies. Please note that the Long Term Care Planning Services are of a financial planning nature and are not specific "legal" advice. Prices subject to change without notice.