The medical insurance that the US government pays for those people that have retired at age 65 after having worked for at least 10 years is called Medicare. Although Medicare is free and you automatically qualify for it if you have worked a minimum of 10 years, you will still have to go the social security office to sign on for it. Although Medicare is comprised of 4 parts, only part A is free and the other 3, which are voluntary to have, do cost you.
Basically for 4 parts are broken down like this:
Part A – This covers hospital stays up to a certain number of days per year and covers all associated costs for those days in hospital
Part B – This cover the costs of out- patient visits to the hospital or even for a doctor making a house call
Part C – This can be a combination of A and B and is in fact a health insurance issued by an insurance company rather than the social security but, social security, as part of your Medicare eligibility, will pay part of the cost of the insurance
Part D –This provides for discounted prescription medications
On top of these 4 parts it is possible to get Medicare supplements, at an additional cost, which will cover any things not fully covered under Medicare. These supplements are often referred to as aMedigap and are always be advertised as you needing. Although some of these supplements can be very beneficial, depending on your own particular circumstances, some may be of no significant use to you and so look at each one you are offered very carefully to see if it is one that will be beneficial to you and therefore worth paying for.
Before deciding which parts of Medicare you want and if you will want any Medicare supplements, it is important to fully understand Medicare and for that reason there are several websites that have broken it down into terms which anyone can understand. Go to one of these websites, read and understand what each part offers you and for what price and then look at any supplements you think may be an advantage for you to have.
Although we would all like to be fully covered in case of any eventuality, in order to be so we may have to pay more than we can afford and so we must draw the line somewhere between what we would like and what we can afford. If you decide you want to pay for Part B to go with Part A, first look to see if there is a supplement which would go with part A and give you a similar coverage but at a cheaper price or, if you want Part A, Part B plus a Medicare supplement, check to see it wouldn’t be cheaper to in fact just get a well-balanced Part C. there may also be a supplement which like Part D, offer discounts on medications.