Learning the key features of Medicare helps to make a more informed decision when turning 65. We have made a list of the important facts to help you understand what Medicare is.

What is Medicare?

Medicare is a federal program that offers free preventive services and other care (see below). The following shows who is eligible for Medicare:

  • People 65 or older*
  • People under 65 with certain disabilities
  • People of any age with End-Stage Renal Disease (ESRD)

*Most people will be automatically enrolled in Medicare. If you are not, click here to enroll in Medicare.

What are the different parts of Medicare?

Medicare Part A (Hospital Insurance) helps cover:

  • Inpatient care
  • Skilled nursing facility care
  • Hospice care
  • Home health care

Medicare Part B (Medical Insurance) helps cover:

  • Doctor’s office visits
  • Outpatient care
  • Durable medical equipment
  • Preventive services like certain screenings and vaccinations

Medicare now covers depression screenings, screenings and counseling for alcohol misuse and obesity, behavioral therapy for cardiovascular disease, and more.

Prescription Drug Coverage

Medicare Part D, AKA Prescription Drug Plans, are not covered through Original Medicare. You will have to purchase a separate plan or get your drug coverage through Medicare Advantage. Here are some Part D facts:

  • Run by Medicare-approved private insurance companies
  • Not all drugs are covered by every plan
  • Average monthly premium is $33

Enroll in Medicare. Check. Now What?

Medicare is great. It really is. It covers the basics. Only problem is it leaves gaps in coverage. This is where Medicare Supplement insurance (AKA Medigap) kicks in. Medigap offers financial security to boomers so they don’t have to worry about financial issues in case of a medical emergency. Medigap can cover such things as the first three pints of blood for a transfusion, your Original Medicare deductibles, copays, coinsurance, foreign emergency care, and excess charges.

For further questions about you and Medicare call the number above or contact Senior65.com.