What is Medicare?
Medicare is health insurance that the government provides once you turn 65 or if you have a disability before the age of 65.
Who do I buy Medicare From?
Who do I buy Medicare through if I’m eligible to buy Medicare? We know it’s a government program, but we see lots of private companies advertising Medicare products.
Medicare has a couple different parts. If you’re on original Medicare, it’s just Part A and B.
There’s A, B, C, and D of Medicare.
A is going to cover your hospital visits, inpatient.
Part B is going to cover doctors.
Part C is going to be what we primarily do in what you do with private insurance companies, where it’s supplemental insurance or Medicare Advantage.
And then part D is going to be prescription medications.
Tell me where I buy those from, each part.
So Part A would be you get those when you turn 65, and you can register for that with the Social Security Administration.
Once you have your Medicare card, you can apply for a supplemental insurance plan or Medicare Advantage plan with any of the big private insurance carriers. This would be someone like UnitedHealthcare, Humana, Cigna, Aetna, any of those big ones. They do offer coverage that pairs with Medicare to give you additional benefits.
So part A and B is something that comes from the government?
Correct.
Everything after that basically adds on top of that and you buy that through the individual companies?
Correct.
For more about Medicare, visit here.