Medicare BASICS
What is Medicare?
Traditional Medicare consists of two parts, Medicare Part A (Hospital Insurance) and Medicare Part B (Medical Insurance). Traditional Medicare is available for all US citizens who are:
- Turning age 65
- Deemed disabled by the Social Security Administration for 24 months
- Retiring and losing employer or group coverage after the age of 65
- Patients of a Dialysis Center due to end-stage renal disease
- Meet other specific qualifications
What does Medicare cover?
Medicare Part A is hospital insurance. Part A covers stays at an inpatient hospital facility, skilled nursing, hospice, and minimal In-Home health-care. You will be responsible to meet a deductible prior to services being performed.
Medicare Part B is medical insurance. Part B generally covers services that are provided by your providers. These include services, but are not limited to:
- Primary/Specialist visits
- Flu shots
- Diabetic screening
- Durable medical equipment
- Procedures done at an inpatient/outpatient hospital setting
- Mental health care
- Physical, Speech, Occupational Therapy
A full list of what's included in Part B can be found here on Medicare's official website.
When it comes to Medicare services, you will typically be responsible for 20% of the cost of the Medicare approved amount. This may also be accompanied by a deductible.