Medicare is the federal government’s health insurance coverage for persons aged 65 or older and younger individuals living with specific disabilities and illnesses. This program comes in handy in containing medical expenditures as people grow older. However, Medicare doesn’t cover everything; the specific services it pays for include:
- Part A – helps cover inpatient hospital care and linked services.
- Part B – helps cover specific doctor and outpatient care services.
- Part C – helps cover prescription drug costs.
A Quick Look at Medicare
Part A (Hospital Insurance)
This is premium-free coverage for eligible individuals. However, people who aren’t eligible for premium-free Part A can enjoy the coverage by contributing a monthly premium of up to $499.
Part B (Medical Insurance)
Part B coverage involves a monthly contribution, with the premium starting at $170.10 monthly in 2022. Typically, most individuals pay the standard premium amount, but an additional income-related charge applies for gross income above a specific amount.
Part C (Prescription Drug Coverage)
Medicare-approved private insurers provide this cover, and the monthly premiums differ with the provider and drugs covered. However, each plan needs to meet the baseline level of coverage mandated by Medicare.
Enroll for Medicare Today!
Contact Jeff Boley Insurance to learn more about Medicare coverage options and get the best fit for your needs. We take pride in our stellar reputation for affordable individual health insurance plans. Admittedly, Jeff will lead you through the Part B enrollment procedure, ensuring a hassle-free initial experience with Medicare.
