What Does Medicare Actually Cover?

Many people don’t know what Medicare insurance is all about, what it covers, and is it actually insurance? If you want to learn more about Medicare, we will break it down for you.

Medicare insurace coverage is a national government plan imposed by the United States for people older than 65 or people with specific disabilities and end-term kidney failure ailments. Medicare coverage has different parts, and people should know how they fit together.

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Part A is health insurance which covers and assists you with inpatient care and skilled nursing. It also helps you with hospital and home care services in the hospital. It covers the payment for a semi-private room, doctors, and nurses that come for you. The cost of this part is free as you have already paid the taxes throughout your working years.

Part B of the Medicare insurance covers everything that happens outside of the hospital. Without this, you are uninsured of doctor visits, diagnostics, lab work, and many health services. It also does not cover ambulances, outpatient surgeries, preventive services, and many more. Part B also covers cancer therapy and dialysis. Without supplemental coverage, this will cost you a fortune for sure. The cost of part B is set by social security and changes each year. Higher-income individuals tend to pay higher compared to those lower-income individuals. How much you will pay is determined by your adjusted gross income that you report to the IRS.


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