A medicare health plan made easy! Understand the various medical expenses covered under Medicare.
The medicare health plan, which is the government program designed to provide financial relief for seniors and disabled, is a complex and very confusing program. It was established in 1965 as part of Lyndon B. Johnson’s “Great Society” Plan. Now that it has been in place for over four decades, it is more complex than ever. It takes a bit of keen attention to pull it apart and understand its particles. Essentially broken down into four different segments, this medicare health plan offers an array of services to those who quality for the program’s benefits.
There are two different pathways available if you opt to use a Medicare health plan. There is the Original Medicare option and the Medicare Advantage option. In Original Medicare, you are able to select Part A and Part B, and can have the option of using Part D with it. While you can use Part D with Medicare Advantage plans as well, these are discussed later.
Part A covers hospital expenses like surgical procedures, lab work, and supplies needed in treatment. It also may include nursing home care, hospice, and other respite or nursing care for the elderly or disabled. It is more easily identifiable as the section that covers facilities and the care needed inside them.
Part B covers services necessary for diagnosis and clinical research, mental health examination and treatment, certain equipment known as durable equipment (wheelchairs, blood sugar monitors, hospital beds, etc.). It also covers costs like ambulance transportation and getting a second opinion from a physician.
Part D coverage is the Prescription Drug plan. This plan pays for your necessary prescription drugs up to pre-determined expense ceilings.
Better known as Part C, Medicare Advantage plans provide supplemental coverage for Medicare patients. This coverage, purchased through an approved private insurance company, enables the patient to choose to enroll in a different type of health plan like a Health Maintenance Organization or a Medical Savings Account Plan. The plans that are classified under Part C can help provide you with extra services like Dental. The premiums are more volatile with this option too, because you have the option to choose the range of services and providers that are available to you.