What is Medicare? Medicare is a federal health insurance that has insured and provided many citizens with healthcare services since 1965. It provides basic protection against the cost of health care, but it does not cover all your medical expenses or the cost of most long-term care. To receive Medicare, you must first enroll and be a qualified. This type of insurance is strictly only eligible for people who live in the United States, for seniors over 65 years old, and young people with disabilities or for those who are at their end-stage of renal disease. There are four different types of Medicare coverages; there is Part A, B, C, and D which is having the choice to Original Medicare, Medicare advantage, prescription drug plans, and Medicare supplement insurance policy which is Medigap. Original Medicare is part A and B. Most people are automatically eligible for Medicare Part A at age 65 if they're already collecting social security retirement benefits. Part A is a hospital insurance that covers inpatient care while receiving care in hospital, in a skilled nursing facility or in limited times even at home. Part B is a Medical insurance for outpatient care that covers clinical research, ambulance services, durable …show more content…
Premium A and Premium B may be purchased once retired and the cost of Premium A if Medicare taxes were not fully deducted can cost up to $413 a month. If taxes were paid a big period of time, Medicare can be lowered to $227 a month. In many cases if one chooses to purchase Premium A you must also have Premium B and be both paid monthly. Depending on your income the amount to Premium part B can cost up to $134 or even less. Purchasing Premium Medicare insurance can be pricey but there are many ways the state can help pay for part A and part B if you don’t earn enough income or you are limited to