Medicare
Health Coverage for the Next Stage of Life
As healthcare needs change over time, having the right coverage becomes even more important. Medicare helps eligible individuals access essential health benefits and manage many of the medical costs that can come with aging or disability.
What Is Medicare?
Medicare is a federal health insurance program primarily for:
- People age 65 and older
- Certain individuals under age 65 with disabilities
- People with certain qualifying medical conditions
Medicare is made up of different parts, each designed to help cover specific healthcare services.
What Does It Cover?
Medicare generally includes:
Part A – Hospital Insurance
Helps cover:
- Inpatient hospital care
- Skilled nursing facility care
- Some home health care
- Hospice care
Part B – Medical Insurance
Helps cover:
- Doctor visits
- Outpatient care
- Preventive services
- Durable medical equipment
- Lab work and other medically necessary services
Part C – Medicare Advantage
An alternative to Original Medicare offered by private insurance companies that combines Part A and Part B coverage and may include additional benefits.
Part D – Prescription Drug Coverage
Helps cover eligible prescription medications.
HOW IT WORKS
- You enroll when you become eligible for Medicare
- You may choose Original Medicare (Parts A & B), or a Medicare Advantage plan
- You can also add prescription drug coverage and supplemental coverage, depending on your needs
- You use your benefits for covered healthcare services and pay applicable premiums, deductibles, copays, or coinsurance
WHY CONSIDER MEDICARE PLANNING?
While Medicare provides valuable coverage, it does not pay for everything. Understanding your options can help you avoid gaps in coverage and manage out-of-pocket costs more effectively.
Key Benefits:
- Broad healthcare coverage – Helps pay for hospital and medical services
- Access to preventive care – Supports screenings and wellness visits
- Coverage options – Choose the path that best fits your needs
- Financial protection – Helps reduce the burden of major healthcare expenses
HOW IT DIFFERS FROM OTHER COVERAGE
It’s helpful to understand how Medicare compares to other forms of insurance:
Individual or Group Health Insurance
Often used before Medicare eligibility and may be employer-based or privately purchased
Medicare Supplement (Medigap)
Helps cover certain out-of-pocket costs not paid by Original Medicare
Medicare Advantage
Combines Medicare benefits through a private plan, often with additional features
Medicare
Federal health coverage for eligible individuals, primarily age 65+ and certain disabled individuals
WHAT IS IT ALSO CALLED?
You may hear Medicare referred to as:
- Federal health insurance
- Original Medicare
- Medicare benefits
- Senior health coverage
While the terminology may vary, the goal is the same: to provide healthcare coverage for eligible beneficiaries.
Who Is It For?
Medicare is designed for:
- Individuals turning age 65
- People already receiving Social Security disability benefits who qualify
- Those seeking to transition from employer coverage into Medicare
- Beneficiaries who want guidance on choosing the right coverage option
A SMART FOUNDATION FOR RETIREMENT HEALTH PLANNING
Medicare often works best as part of a broader healthcare strategy, which may include:
- Medicare Supplement insurance
- Medicare Advantage plans
- Prescription drug coverage
- Dental, vision, and hearing coverage
- Hospital indemnity insurance
- Critical illness coverage
MAKE MEDICARE EASIER TO UNDERSTAND
Medicare can feel complex, but the right guidance can help you make confident decisions.
With the right plan in place, you can better manage healthcare costs and focus on enjoying the years ahead.
Want to Learn More?
Contact us today to explore your options and find a plan that fits your needs.