Seniors know- once you turn 65 you can expect Medicare Part A and Part B to cover a large portion of your medical expenses. Also known as Traditional Medicare or Original Medicare, the programs have helped thousands of Americans in their times of greatest needs.
Part A helps pay for inpatient hospital stays, surgery, hospice care, staying in skilled nursing facilities, and, at times, some home health care. Basically, this is your hospital insurance. Part B represents the medical insurance which covers doctor’s visits, preventive service, outpatient care as well as some medical supplies and equipment.
Most Americans can start the signup process three months before they turn 65. By that time, though, you have to ensure that you’re fully covered. Medicare Part A and Part B have some pretty significant gaps.
Today we’re going to look at 6 things that your Medicare won’t cover. In addition, we’ll talk about strategies that will ensure that additional costs will be covered, if worse comes to worst.
Medicare Doesn’t Cover Prescription Drugs
Prescription drugs don’t fall under Part A and Part B’s umbrella. That’s why most seniors will have to purchase one of two policies in order to top up their healthcare plan, either a part D prescription drug policy of a Medicare Advantage. Medicare Advantage is, as the title suggests, a little more advantageous since it covers both medical and drug costs.
It’s up to you when you sign up for either of these policies, either when you enroll in Medicare or when you lose your other drug coverage. Furthermore, you may still change policies during open enrollment which takes place in the fall.
If you’re unsure which one to pick you can use the Medicare Plan Finder to compare costs and coverages that will better suit your particular medical situation.