Understanding Medicare Coverage: What You Need to Know

Medicare is a government-funded insurance program that you can enroll in through the Social Security office when you become eligible.  Do you know what kind of coverage you’re signing up for?

Here’s an overview of Medicare and the difference between its two main parts, Part A and Part B.

Part A

Part A is your hospitalization coverage and is usually premium-free if you or your spouse have met the working qualifications. It helps cover inpatient care in hospitals, skilled nursing facility care, hospice care, and home health care. On average, Part A covers about 80% of the costs associated with the above.

Part B

Part B is the “outpatient” coverage and comes at a cost to the insured. It helps cover services from doctors, other healthcare providers, outpatient care, home health care, durable medical equipment, and many preventative services such as screenings and vaccines.

Do I Need Both?

If you are currently employed and have an employer’s group plan, chances are you may not need both parts of Medicare. However, if you do not have group coverage, enrolling in both Part A and Part B will provide you with essential health insurance benefits. Additionally, if you are interested in Medicare Advantage or a Medicare Supplement, enrollment in both parts is mandatory.

For more information on Medicare or assistance in choosing a plan, contact Lori Good at Frost-Beck Insurance Agency in Whitehouse or Archbold, Ohio today.  Call Frost-Beck Insurance Agency at 419-446-2777, email us at frostins.com, or click here to submit your request today.