What Does Medicare Cover?
Medicare Part A
Medicare has five different plans: A, B, C and D. Most people opt for plans A and B because both cover most services and treatments. It’s important to choose which plan is right for you and know the treatment options each offers.
Part A is the “original†medicare which covers hospital services and stays. If you need home healthcare due to mobility issues, then this is also part of the plan. It includes walkers, wheelchairs and inpatient treatment at skilled nursing facilities, as well as the cost of blood transfusions. However, you’re only considered an inpatient at a hospital if a doctor formally admits you. It’s important to know this as Medicare Part A might not cover outpatient visits.
There are costs associated with the plan and depending on your income you might have to pay premiums. However, there’s no charge for hospice stays.
Medicare Part B
Part B is also the original medicare, and it covers general healthcare services. This includes preventative care such as tests and checkups. Most people choose to have parts A and B as it covers most of their costs. An example of this is if you’re admitted to a hospital facility, part A covers the stay and part B is for the doctors services. The range of services includes ambulance and emergency services, tests for diabetes, cancer and mental health, medical equipment, diabetes medication and some other drugs, vaccinations and ECGs (electrocardiograms).
Some part B services are provided at no extra cost but most people have to purchase both part A and B coverage. The monthly amount depends on your income, but it’s much cheaper than paying for full health care costs.
Medicare Parts C and D
Medicare Part C is a supplemental plan which offers extra coverage for an additional charge. They are also known as advantage plans, and to be eligible you must have parts A and B. These plans usually include prescription drugs, eye care and dental care with some other benefits. You’ll pay a premium and there are restrictions on the doctor you see. If they’re not in your network, then there’s a chance you’ll have to pay extra money.
If you need medication to be administered by a doctor, then you should get Medicare Part D. These include injections, infusions and other medications not covered by Part B. People choose this plan so they can access a wide range of medications but there’s a premium and additional costs to pay.
Medicare Drawbacks
There’s no doubt that Medicare can offer security to individuals, but there are some vital treatments that it doesn’t cover. Dental treatment costs people a lot of money, but if you need specific treatments, then you’ll probably have to pay for them. Some examples of this includes dentures, which can cost up to $5000.
Generally, Medicare doesn’t pay for any treatment you receive abroad. Most people choose the basic plan A and B which means they will accumulate costs with other treatments, including eye care. Senior citizens are most at risk of spending large amounts of money and purchasing a more comprehensive Medicare package could mean less blows to your retirement fund.
Things to Consider
When you’re choosing your Medicare Plan, it’s important to think about your needs and potential health concerns. Medicare is there to make life more affordable, but the costs can mount up. Long-term care isn’t available so you should find an LTC (long term care) insurance policy. Cosmetic surgeries, acupuncture and other specialized therapies aren’t covered by Medicare, but the plans offer long term security and treatment for a wide range of conditions.
Consider your current health issues and think about what might happen in your future. Senior citizens should evaluate where they’re most likely to lose money on treatments and purchase a comprehensive plan to avoid high medical costs. Visit the Medicare website for more information.