medicare

Question 1

What is medicare?

Answer 1

a federally funded health insurance program

Question 2

What’s part A?

Answer 2

hospital insurance- inpatient care in hospitals, skilled nursing care, some home health, and hospice care

Question 3

What’s part B?

Answer 3

Medical Insurance- physician’s services, outpatient services, ER visits, laboratory services, diagnostic tests, DME

requires a monthly premium

Question 4

What’s part D?

Answer 4

drug coverage and Medigap policy from a private insurer to cover some out-of-pocket expenses

Question 5

what’s medicare advantage plans (part C)?

Answer 5

medicare approved private companies
provide parts A, B, D
don’t need medigap policy
costs vary by plan

Question 6

What’s medicaid?

Answer 6

joint federal and state program that provides health insurance to people who have low incomes and low savings
states have discretion regarding eligibility