Co-Founder, TermInsuranceBrokers.com, Goldenzweig Financial Group, Las Vegas, Nevada
Medicare Part A is, in short, your hospital insurance. It covers inpatient hospital care, skilled nursing facility care, nursing home care, hopsice care, and home health services. Please note, there are limitations to what Medicare pays and for how long it will pay for given services. If you want to have adequate coverage for long-term care types of services (e.g. nursing home care, hospice care, and home services), you will want to supplement your Medicare coverage with a separate long-term care policy.
Medicare Part B is, in short, your physician insurance. This part of Medicare covers things like doctor visits, lab tests, surgeries, ambulance services, durable medical equipment (DMEs), and other outpatient services.
Medicare Part A & Part B are commonly referred to as Original Medicare and only covers about 80% of your healthcare expenses. A Medigap plan can cover all or a portion of the other 20% of expenses. While 20% doesn't seem like it's going to have a high dollar figure, the bill can add up quite fast. The idea of a Medigap plan is to create a predictable expense structure. If you don't have a Medigap plan and visited the hospital/had a surgery/etc., you'll end up with a massive medical bill real quick.
I hope the input is helpful - please feel free to contact me for help and if you have any other questions. Thanks very much.
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Medicare Part B is, in short, your physician insurance. This part of Medicare covers things like doctor visits, lab tests, surgeries, ambulance services, durable medical equipment (DMEs), and other outpatient services.
Medicare Part A & Part B are commonly referred to as Original Medicare and only covers about 80% of your healthcare expenses. A Medigap plan can cover all or a portion of the other 20% of expenses. While 20% doesn't seem like it's going to have a high dollar figure, the bill can add up quite fast. The idea of a Medigap plan is to create a predictable expense structure. If you don't have a Medigap plan and visited the hospital/had a surgery/etc., you'll end up with a massive medical bill real quick.
I hope the input is helpful - please feel free to contact me for help and if you have any other questions. Thanks very much.