Medicare is a federal health insurance plan that is meant for people who are 65 and older. The plan may also offer health insurance coverage for younger people with disabilities, as well as those with end-stage renal disease. Original Medicare includes various “Parts” that cover different services. These include:
– Medicare Part A: Medicare Part A covers inpatient hospital stay, home healthcare, hospice care, and care in a skilled nursing facility.
– Medicare Part B: Medicare Part B covers doctors’ services, medical supplies, outpatient care, and preventive services.
– Medicare Part D: Medicare Part D helps cover the cost of prescription drugs, including vaccines and shots that are recommended by the doctor.
Below, we’ve put together a few reasons why eligible individuals should opt for Medicare coverage.
Provider Flexibility
Original Medicare allows one to see any medical provider or visit any facility in the United States that accepts Medicare. With a Medicare Advantage plan, in comparison, one is restricted to using the network that the insurer provides. In the case of original Medicare, one does not need a referral to see any healthcare provider in the network. In fact, according to the Kaiser Family Foundation, 93 percent of all primary care providers participate in Medicare. This means the chances that one’s current providers accept Medicare is pretty high.
Comprehensive Care
Original Medicare covers most of one’s healthcare needs. One can avail of medical services like hospitalizations, diagnostic tests, doctor visits, and outpatient care. The only healthcare services that are not covered are cosmetic surgery and hearing care, vision, and dental expenses. Eligible individuals can also sign up for prescription drug coverage via Part D. Thus, people who may need to visit healthcare providers often are better off opting for original Medicare.
Affordable Premiums
Under original Medicare, the federal government is responsible for setting the premiums, coinsurance amounts, and deductibles for Parts A and B. The government also sets a maximum deductible rate for Part D. This causes premiums to be more affordable compared to regular private health insurance plans. That said, copays and premiums may vary with original Medicare. Many individuals who opt for original Medicare get a supplemental policy to manage the out-of-pocket expenses that may come with original Medicare. The best part about original Medicare is that most Americans qualify for premium-free Part A coverage. People who don’t can opt for Part A coverage at a nominal cost.
