Medicare open enrollment is currently underway and will end on December 7th. We encourage you to review your current plan and make any changes before the deadline. If you haven’t enrolled in Medicare before and have questions, we’re happy to provide a referral to a Medicare expert who can help you.
The Social Security Administration’s “Medicare” pamphlet describes the Medicare program as follows:
“Medicare is our country’s health insurance program for people age 65 or older. Certain people younger than age 65 can qualify for Medicare, too, including those who have disabilities, permanent kidney failure or amyotrophic lateral sclerosis (Lou Gehrig’s disease). The program helps with the cost of health care, but it does not cover all medical expenses or the cost of most long-term care. You may buy a Medicare supplement policy (called Medigap) from a private insurance company to cover some of the costs that Medicare does not.
Medicare is financed by a portion of the payroll taxes paid by workers and their employers. It also is financed in part by monthly premiums deducted from Social Security checks.
Medicare has four parts:
- Hospital insurance (Part A) helps pay for inpatient care in a hospital or skilled nursing facility (following a hospital stay), some home health care and hospice care.
- Medical insurance (Part B) helps pay for doctors’ services and many other medical services and supplies that are not covered by hospital insurance.
- Medicare Advantage (Part C) plans are available in many areas. People with Medicare Parts A and B can choose to receive all of their health care services through one of these provider organizations under Part C.
- Prescription drug coverage (Part D) helps pay for medications doctors prescribe for treatment.”