1. Medicare Explained
Skip the government's 128-page Medicare booklet and learn this guide breaks everything down in a simple, easy-to-understand way so you can quickly see how it all works.
In simple terms, Medicare is a government and private partnership designed to cover your healthcare after age 65. It starts with two main parts. Part A covers hospital care, and for most people, it is available at no cost if you’ve worked at least 10 years. Part B covers doctor visits and outpatient services and usually comes with a monthly premium.
MEDICARE OVERVIEW
The Government Side
Part A
Part A covers hospital care, including inpatient stays, skilled nursing facilities, and some home health services. Most people qualify for Part A at no monthly cost if they’ve worked and paid Medicare taxes for at least 10 years.
Part B
Part B covers doctor visits, outpatient care, preventive services, and medical tests. It requires a monthly premium and typically covers about 80% of approved services, leaving you responsible for the remaining costs.
Part D
Part D provides prescription drug coverage. It is offered through private insurance plans and may require an additional premium, depending on the plan you choose. Enrolling on time can help you avoid late penalties.
Dental / Vision / Hearing
Original Medicare generally does not cover routine dental, vision, or hearing services. These are available through certain Medicare Advantage plans or separate supplement coverage, depending on your needs.
Together, Parts A and B typically cover about 80% of your medical expenses, leaving you responsible for the remaining 20%.
With a supplement, you will also need to sign up for Part D Drug Card now ( penalty if you don’t) / with Advantage it is included at no charge with virtually all plans.
Traditional supplements are alacarte & require additional premiums. Even if you don’t sign up for a dental plan, but you will still have dental expenses. Many people like the convenience and simplicity of Advantage plans since they almost always are all inclusive.
Once you have Medicare Parts A and B in place, you’ll reach an important decision point.
You now need to decide how to cover the remaining costs and gaps, this is often referred to as the “fork in the road.”
In the next step, we’ll walk you through your options so you can decide which path fits your needs best.
Private Side Pays the Remaing 20%
