In July, communities everywhere celebrate our nation’s
independence with fireworks, family, and friends. A strong community also
creates independence as we help each other recognize our full potential.
Social Security has been helping people maintain a higher
quality of life and a level of independence for over 80 years. And Medicare has
been doing the same for over five decades. Most people first become eligible
for Medicare at age 65. For many older Americans, this is their primary health
insurance and without it, they might not enjoy an independent lifestyle.
Medicare can be a little
confusing to newcomers so we’ve broken it down into segments. The four parts of
Medicare are as easy as A, B, C, and D.
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Part A (Hospital Insurance) helps cover inpatient hospital care,
skilled nursing care, hospice care, and home health care. Most people get
Medicare Part A premium-free since it is earned by working and paying Social
Security taxes.
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Part B (Medical Insurance) helps cover services from doctors and
other outpatient health care providers, outpatient care, home health care,
durable medical equipment, and some preventive services. Most people pay a
monthly premium for Part B. Some high-income individuals pay more than the
standard premium. If you don’t enroll in Medicare Part B during your initial
enrollment period and then decide to do so later, your coverage may be delayed
and you may have to pay a higher monthly premium for as long as you have Part
B.
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Part C (Medicare Advantage) allows you to choose to receive all
of your health care services through a provider organization. This plan
includes all benefits and services covered under Part A and Part B, usually
includes Medicare prescription drug coverage, and may include extra benefits
and services at an extra cost. You must have Part A and Part B to enroll in Part C. Monthly premiums
vary depending on the state where you live, private insurer, and whether you
select a health maintenance organization or a preferred provider organization.
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Part D (Medicare prescription drug coverage) helps cover the cost
of prescription drugs. Many people pay a premium for Part D. However, people
with low income and resources may qualify for Extra Help to
pay the premium and deductible. If you don’t enroll in a Medicare drug plan
when you’re first eligible, you may pay a late enrollment penalty if you join a
plan later. You will have to pay this penalty for as long as you have Medicare
prescription drug coverage. To see if you qualify for extra help visit socialsecurity.gov/prescriptionhelp.
Will you be age 65 soon? Even if
you decide not to retire, you should apply for Medicare. You can apply in less
than 10 minutes using our online Medicare application.
Visit www.socialsecurity.gov/medicare to
learn more about applying for Medicare.
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