Medicare

elderly couple leaning on golf bags smiling for camera

Most people at least know that Medicare exists. Unfortunately, many people don’t understand the ins and outs or the benefits of this program. Medicare was put in place to support seniors in their healthcare.

But it can seem overwhelming and complicated since it has several parts that cover different things. It also involves a lot of specific requirements for enrollment.

If you need help navigating the intricacies of Medicare, call Lake Region Insurance Agency today. We will work with you to find the coverage you need. Our team can guide you through all of the parts to make sure you feel confident in your choices.

What is Medicare?

Medicare originated in the 1960s and is a government-provided insurance program aimed primarily at seniors. It is not a free program. Depending on their selections, enrollees may pay for their premiums, deductibles, copayments, and prescriptions.

Medicare is for Americans who are 65 years of age and older. However, some people younger than 65 qualify for Medicare if they have specific disabilities.

Typically, once you secure your coverage, you can go to any doctor or hospital, as long as they are enrolled in Medicare. Plus, you usually will not need a referral to see a specialist.

Medicare does not cover the vast majority of prescription drugs. To remedy this, many people choose to enroll in Medicare Part D.

As with other forms of medical insurance, individuals under Medicare have a deductible to meet each year. Once they reach this amount, Medicare begins paying its percentage of the costs. Unlike with other health coverage, though, there is no annual limit on out-of-pocket expenses.

Medicare Parts

There are four distinct parts of Medicare, and each one covers a different component of medical coverage.

Medicare Part A

People often refer to Medicare Part A as hospital insurance. This part covers visits to hospitals, emergency rooms, hospice services, and nursing home care. Sometimes it can include home health visits, as well.

Medicare Part B

Medicare Part B covers a vast range of medical needs, including:

  • Doctor Appointments 
  • Lab Tests 
  • Mental Health Appointments 
  • Outpatient Services 
  • Medical Equipment
  • Preventive Care

Any medical service that is essential and performed outside of a hospital can have coverage under Medicare Part B.

Medicare Part C

Medicare Part C is called a Medicare Advantage Plan. These plans come from private companies with Medicare approval. They cover Parts A and B and, usually, Part D. Often, these policies include extra benefits such as dental or vision. 

Medicare Part D

Medicare Part D is prescription drug coverage under Medicare. This is a vital piece of your health care plans. Medication costs can become overwhelming when you’re on a fixed income if you don’t have a policy to cover them.

Call Lake Region Insurance Agency Today

If you are eligible for Medicare, reach out to Lake Region Insurance Agency today. We will remove the confusion and guide you through the process. Our friendly team of experts can explore the whole market to find a perfect plan for you.

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