When it is time to consider your Medicare insurance coverage in Madison, WI, contact us for expert advice.
Medicare is made available by the US federal government as a health insurance program for certain eligible people. You could be an eligible person if you:
- Are 65 older
- Are a person with disabilities accepted by Medicare, even if you are not 65 years old yet
Different parts of coverage are provided by Medicare for various medical services.
Original Medicare Insurance in Madison WI
Original Medicare is divided into several parts. Each part covers specific types of Medicare-approved services. When you have each type of coverage, it helps you pay for your medical bills.
- Medicare – Part (A) helps you pay for Hospital bills, so it is often called Hospital Insurance. When you are admitted into the hospital, a skilled nursing facility, or a hospice unit, Part A helps cover some costs. In addition, Part A also helps pay for some in-home approved services.
- Medicare Part B helps you pay for regular medical bills, so it is often called simply Medical Insurance. Part B is the part that helps pay for your regular doctor visits, screenings, preventative medicine, and some medical supplies.
- Medicare Part D helps you pay for your prescriptions, so it is often called Prescription drug insurance. Part D helps pay for approved prescriptions and many vaccines.
- Supplemental Medicare Insurance helps pay for services not covered by the other Parts. Many people find that this Medigap insurance gives them peace of mind as it pays for many services the other parts do not.
How Medicare will help pay your approved medical expenses
Medicare doesn’t cover the total cost of even your approved medical expenses. Typically, you are still responsible for at least 20% of your medical bills. For example, if you had an approved medical screening that costs $100, Medicare would cover the first $80, and you would pay the rest. The $20 is commonly called a copay or a coinsurance amount.
You may also have a deductible each year, so when you have paid enough to cover that deductible, Medicare pays more toward your bills. Medicare coverage does pay for many medical costs, but it won’t cover everything.
Most people don’t have to pay premiums for Medicare Part A. If either your spouse or you worked and paid Medicare taxes for more than 10 years, you probably don’t have premiums to pay for Part A coverage.
When you are ready to learn more about Medicare insurance coverage in Madison, WI, contact us for more information.