• COBRA
• Glossary of Terms
• Helpful Online Resources
• Long-Term Care FAQ'S
• Medicare FAQs

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FAQs

Q: What is Medicare?

A: Medicare is the federally administered health insurance plan that covers all United States Social Security recipients. This includes people who are eligible for Social Security and may be 65 years of age or older and those who are younger than 65 years of age but are medically disabled. The Medicare health insurance program is administered by the US government’s Centers for Medicare and Medicaid. Medicare benefits are paid for primarily by payroll taxes, general tax revenues and beneficiary premiums. In addition, beneficiaries are responsible for paying part of the cost for most health care, with deductibles, co-payments and premiums for some “parts” of Medicare.

Q: What are the “parts” of Medicare?

A:There are four parts to Medicare, including:

• Medicare Part A
  • This is a hospital insurance program that also covers short-term care in skilled nursing facilities for rehabilitation, short-term skilled home care, and hospice services.
  • Part A is automatically covered under Medicare.
• Medicare Part B
  • Also known as “supplemental,” this covers outpatient medical visits and other services, such as laboratory and diagnostic testing.
  • Part B is optional Medicare coverage.
• Medicare Part C
  • This is health maintenance organization (HMO)-type coverage that is also known as Medicare Advantage (MA).
  • It’s a combination of Medicare Parts A and B.
  • Medicare Part C sometimes also includes Medicare Part D and is known as Medicare Advantage with Prescription Drug coverage (MA-PD).
• Medicare Part D
  • Covers many prescription drugs in various levels of payment.
  • Part D is optional Medicare coverage.

Q: What is “Medigap” insurance?

A: This is optional health insurance that you may purchase to cover the “gaps” in your Medicare coverage, including co-payments and deductibles that are built into the Medicare program. Medigap insurance is sold by private insurance companies to individuals and is not a required “part” of Medicare.  There are up to 12 different varieties of Medigap plans, labeled A through L. Not all varieties of Medigap insurance are available in all areas, due to state laws that govern health insurance.

Q: What is Medicaid?

A: Medicaid is a health insurance program for certain low-income individuals and families, of any age, who meet the criteria, set by federal and state governments. Medicaid insurance is paid for by tax dollars from the federal, state and sometimes local budgets. Medicaid coverage varies widely around the Untied States, based primarily on state and local regulations.