Medicare is a federally funded program for people aged 65 and over which provides health care coverage for American senior citizens. Medicare is also available to people was permanent kidney failure or people who are disabled who are under the age of 65. When you turn 65 if you have paid into Medicare through employment, you are most likely eligible for Medicare benefits. Eligibility will be determined by the Social Security administration.
Part A covers hospitalization. It helps to pay for hospitalization, limited hospitalization and a skilled nursing facility, and hospice and home health care for those patients who are home bound or bedridden. There are definite limits to what Medicare does and does not cover even if you are hospitalized. Most people who are eligible for Medicare will not have to pay a premium for their Medicare part A coverage, this means that you will not have to make the monthly payment or annual payment to retain your Medicare part A eligibility. Wes Medicare part A you will have a hefty deductible and every time you use your Medicare part A coverage you will have to pay a percentage out of your own pocket.
Part B is the part of your medical coverage which acts like medical insurance. Inpatient and outpatient doctors’ fees, medical services and equipment, lab services, occupational and physical therapy, and mental health care provided on an outpatient basis. For this part of your Medicare benefits everyone pays a monthly premium, it doesn’t matter who administers your Medicare benefits, they will automatically take the premium amount out of your Social Security benefits. There is also a $110 annual deductible as well as a 20% co-payment charge for every office visit or qualified medical service.