What is Medicare?
Medicare is a health insurance plan for individuals who are 65+ years or are permanently disabled.
Medicare is divided into various Parts – the most important of which are Parts A, B and Supplemental.
Part A is paid through the Medicare Taxes deducted from your paycheck for at least 10 years. This Hospital Insurance covers inpatient care in hospital or a limited stay in a skilled nursing facility. This is automatically enrolled when you apply for Social Security Benefits.
Part B can sometimes be automatically activated with Part A or will sometimes require for you to call in to enroll. It covers physician and outpatient hospital services. The premium you pay for Part B is deducted from your Social Security Check. Failing to activate Part B can incur nonreversible penalties.
– Medicare pays for many healthcare services and supplies, but it does not cover all of your healthcare costs –
Medicare Advantage Plan
A Medicare Advantage Plan helps cover the costs that are left unpaid after Medicare Parts A and B pay their portions of your healthcare portions.