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What is Medicare and who runs it? • People age 65 and older • People under age 65 with disabilities • People of any age with End-Stage Renal Disease (ESRD) (permanent kidney failure requiring dialysis or a kidney transplant) • Centers for Medicare & Medicaid Services (CMS) administers program – Social Security Administration (SSA) enrolls most individuals • Railroad Retirement Board enrolls railroad retirees
what are parts of Medicare? There are four parts of Medicare they are as follow • Part A (Hospital Insurance) • Part B (Medical Insurance) • Part C (Medicare Advantage Plans like HMOs, PPOs) • Part D (Medicare Prescription drug Coverage)
Medicare Enrollment • Automatic enrollment for those receiving – Social Security – Railroad Retirement • Initial Enrollment Period – 3 months before 65th birthday – 25th month of disability benefits • If not automatically enrolled – Social Security – Railroad Retirement Board
What are the advantages of Medicare plans? • Medicare Advantage plans cover everything Medicare Part A and Part B cover • All Medicare Advantage plans have out of pocket maximums • You can switch Medicare Advantage plans if you’re not happy with your plan • Your out-of-pocket costs may be easier to calculate with a Medicare Advantage plan
Conclusion • Medicare is a health insurance program • Medicare doesn’t cover all of your health care costs • You have choices in how you get coverage • There are programs for people with limited income and resources • Decisions affect type of coverage you get