5 Tips to Understanding Medicare

Medicare Insurance, according to the Today's Seniors website, is "one of the largest social insurance programs in the world." Like any large organization, the designations and forms can be a convoluted labyrinth of confusion. For eligibility questions, your county or municipality has a health department which may be able to help; most counties also offer a department that specializes in senior services.

Part A is easiest to remember as covering the services that you would receive if you were hospitalized. Part A covers the cost of hospital stays and inpatient services, including food, semi-private rooms, X-rays and the variety of lab tests that are usually connected with a stay. Generally, the first 20 days of any stay is covered; anything longer incurs a co-pay.

Part B applies to the costs associated with going to the hospital. This coverage includes out-patient services; those procedures that do not require over night stays. Tests such as X-rays, MRI's and the like are included. Also under Part B, are provisions for wheelchairs and canes, eyeglasses, oxygen, transfusions. Part B provides the stop-gap for items not included under Part A.

Part C allows the participant to choose if they want to continue under existing health care plans provided through employment. This allows the participant to still use their main provider, choose a Medicare provider as the second insurance, covering items the main provider may not, and also may allow some prescriptions coverage. Usually, there is a monthly premium and cost factors should be looked at carefully.

Part D is probably the most important part of Medicare for most people. This is the portion of Medicare that covers prescription drugs. If you are eligible for Parts A or B, you are also covered by Part D.

Like commercial insurance companies, not everything is covered; you may want to consider supplemental insurance.

Tip #1. Understand the four parts of Medicare.

Tip #2. Understand which parts you are eligible for. County health departments, social security offices, senior centers are all places that may be able to help you understand your specific eligibility.

Tip #3. Understand your needs. Do you have any conditions that may require long hospital stays or frequent out patient services? Do you take a lot of prescriptions? Have complications?

Tip #4. Ask questions. Don't be afraid to seek help with understanding Medicare's options further. Your doctor's office is also good place; they can refer you if they can't help you directly.

Tip #5. If there are gaps in your medical coverage, then explore the variety of supplemental insurance programs available. Nationally, about a dozen options for supplemental insurance exists, including AARP.

The Today's Seniors website offers more information on Medicare, including a list of companies that offer supplemental insurance and the differences (there aren't any) between them.