“How does Medicare work?” If that’s a question you’re asking, then it’s likely that you or a loved one are (or will be) qualified for Medicare. It’s true: there’s a lot to learn. But starting with the basics and expanding your knowledge of the program can help you make educated choices about Medicare coverage and anticipate how it will affect you.
Medicare can seem complicated, but there are resources available to assist you. Let one of the thousands of licensed agents at HealthMarkets help you understand what you need to know about Medicare and how it applies to you.
Who gets Medicare?
The people who are eligible for Medicare are generally 65 years of age or older. Those under the age of 65 may be eligible if they have a certain type of disability.
What are the types of Medicare*?
- Medicare Part A: Inpatient care and skilled nursing facility coverage
- Medicare Part B: Outpatient care, including doctor visits
- Medicare Part C (Medicare Advantage): Includes benefits of Parts A and B
- Medicare Part D: Prescription drug coverage
- Medigap: Medicare Supplement coverage through private insurance companies
So, how does Medicare work?
The system is fairly simple. When you turn 65 and apply for Social Security benefits, you’re automatically enrolled in Medicare Part A. If you choose to enroll in Part B coverage, the cost is taken from your Social Security benefits. You may also choose to enroll in Part C, Part D or a Medigap policy.
Medicare (or the insurance company through which you purchase Medicare Advantage) pays for your healthcare costs. You may still need to cover costs like deductibles, coinsurance or certain prescription drugs.
If you still have more questions, you’re not alone. Check out what Britt from Elkhart, Indiana, had to say about her experience: “When we became eligible for Medicare, we were overwhelmed. I called HealthMarkets and the agent helped us find the right plan.”