Medicare Basics
Understanding Medicare is the first step to making informed healthcare decisions. Let us guide you through the fundamentals.
What is Medicare?
Medicare is the federal health insurance program for people age 65 and older, as well as certain individuals under 65 with disabilities.
The program was established in 1965 and provides essential healthcare coverage for millions of Americans. It's administered by the Centers for Medicare & Medicaid Services (CMS) and helps protect you from high medical costs.
Important to Know
While Medicare provides essential coverage, it doesn't cover everything. Understanding what's covered and what isn't will help you make better decisions about additional coverage options.
Original Medicare
Original Medicare consists of two parts that provide basic healthcare coverage.
Part A: Hospital Coverage
Medicare Part A covers inpatient hospital stays, skilled nursing facility care, hospice care, and some home health care services.
What's Covered:
Inpatient hospital care
Skilled nursing facility care
Hospice care
Limited home health services
2024 Deductible: $1,632 per benefit period
Part B: Medical Coverage
Medicare Part B covers doctor visits, outpatient care, preventive services, and medical equipment.
What's Covered:
Doctor visits and outpatient care
Preventive services and screenings
Ambulance services
Durable medical equipment
2024 Premium: $174.70/month (standard)
2024 Deductible: $240 annually
What Original Medicare Doesn't Cover
While Original Medicare provides essential coverage, it doesn't cover everything. You are responsible for deductibles, coinsurance, and medications—which is why many people choose additional coverage options.
Prescription Drugs
Original Medicare doesn't cover most prescription medications. You'll need Part D or Medicare Advantage for drug coverage.
Dental Care
Routine dental care, including cleanings, fillings, and extractions, are not covered by Original Medicare.
Vision Care
Eye exams for prescription glasses and eyewear are generally not covered under Original Medicare.
Hearing Aids
Hearing aids and routine hearing exams are not covered by Original Medicare in most cases.
International Travel
Emergency care while traveling outside the United States is generally not covered.
Long-term Care
Custodial care in nursing homes or assistance with daily living activities at home.
Understanding Your Costs
Original Medicare requires you to pay deductibles, coinsurance, and copayments. There's no annual out-of-pocket maximum.
Deductibles
Annual amounts you must pay before Medicare coverage begins.
Part A: $1,632 per benefit period
Part B: $240 annually
Coinsurance
Percentage of costs you pay after meeting deductibles.
Part B: 20% of Medicare-approved amounts
No annual limit with Original Medicare
Copayments
Fixed amounts for specific services and supplies.
Varies by service
Different amounts for different types of care
Ready to Simplify Your Medicare?
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