Understanding Medicare PC1528-Digital

RETIREMENT PLANNING

MEDICARE

UNDERSTANDING MEDICARE COVERAGE OPTIONS

Medicare is the federal health insurance program for people age 65 or older. Certain people younger than age 65 with disabilities can also qualify for Medicare. The program is designed to help with the cost of healthcare, but it doesn’t cover all medical expenses or the cost of most long-term care. Rules and coverages vary by state.

MEDICARE COVERAGE PLANS

PLAN

COVERAGE

OUT-OF-POCKET COSTS

Part A: (Hospital insurance)

Inpatient hospital care or skilled nursing facility (following a hospital stay), some home healthcare and hospice care. Services from doctors and other medical providers, outpatient care, home healthcare, durable medical equipment, and some preventive services.

Deductibles, coinsurance and copays.

Part B: (Medical insurance)

Monthly premiums, deductibles, coinsurance and copays.

Part C: (Medicare Advantage plans) Part D: (Prescription Drugs)

Private single provider option.

Various costs determined by insurers.

Brand name and generic drugs.

Monthly premiums, deductibles and copays.

When you apply for Medicare, you have choices for how you receive and pay for your coverage.

BRIDGING THE GAP While Medicare can supplement other insurance programs,

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