What is Medicare?
Medicare is a federal health insurance program in the United States for people age 65 or older and younger people with disabilities, including those with end stage renal disease and amyotrophic lateral sclerosis (ALS or Lou Gehrig's disease). It started in 1965 under the Social Security Administration and is now administered by the Centers for Medicare and Medicaid Services (CMS).
Navigating Medicare can feel overwhelming, but MediPlans NJ is here to help!
The Different Parts of Medicare
Medicare is divided into multiple parts (A, B, C, D), each designed to cover different aspects of healthcare. Understanding these parts can help you make informed decisions about your coverage. Whether you need hospital care, doctor visits, prescription medications, or additional benefits like vision and dental coverage, Medicare offers various options to meet your healthcare needs. Below is a breakdown of each Medicare part and what it covers:
Medicare Part A – Hospital Insurance
Part A includes:
- Inpatient hospital stays
- Skilled nursing facility care
- Skilled home healthcare
- Medications (in-hospital)
- Hospice care
- Blood
You can think of Part A as your "Room & Board" while in the hospital. Most people receive Part A without a monthly premium if they or their spouse have paid Medicare taxes while working.
Medicare Part B – Medical Insurance
Part B includes:
- Doctor visits (in & out of the hospital)
- Outpatient Hospital/Surgeries
- Labs/X-rays/MRIs
- Preventive Care
- Home Healthcare
- Dialysis
- Chemotherapy/Radiation
This plan also helps cover services like screenings, vaccinations, and durable medical equipment. Unlike Part A, Part B requires a monthly premium. See IRMAA Chart to access your cost.
Medicare Part C-
Medicare Advantage Plans
Medicare Advantage (Part C) plans are offered by private insurance companies approved by Medicare. These plans provide all the coverage of Parts A and B and often include additional benefits such as vision, dental, and prescription drug coverage. Medicare Advantage plans may have different costs and provider networks compared to Original Medicare.
Medicare Part D – Prescription Drug Coverage
Part D is designed to help cover the cost of prescription medications. Offered through private insurance companies, these plans vary in cost and coverage but ensure Medicare beneficiaries have access to essential prescriptions at lower prices.
Medicare Supplement -(Medigap) Plans
Medigap plans help cover out-of-pocket costs like copayments, coinsurance, and deductibles not covered by Original Medicare. These plans are offered by private insurers and can provide additional financial protection for those enrolled in Medicare.
Finding the Right Medicare Plan
Choosing the right Medicare plan depends on your healthcare needs, budget, and lifestyle. MediPlans NJ is committed to helping individuals in New Jersey understand their options and select a plan that provides the best coverage and peace of mind. Whether you need assistance enrolling, comparing plans, or exploring supplemental coverage, our team is here to help.
Have questions about Medicare? Contact MediPlans NJ today to learn more about your options and find a plan that fits your needs.
