Medicare

Business / Taxes / Medicare: Medicare is a federal government insurance program designed to provide healthcare coverage for people 65 or older, certain disabled people, and people with chronic kidney disease. Anyone who qualifies for Social Security is automatically eligible for Medicare at 65. Part A, which covers hospital and certain other costs, is provided when you enroll. You can also sign up for Part B, which covers doctor visits and related costs, and Part D, which covers prescription medicines, at the same time. You pay a separate premium for both Part B and Part D. The Part B premium is set annually and carries surcharges for people whose incomes are above the annual ceilings. Your Part D premium is determined by the private insurer plan you select. If you postpone applying for Parts B and D and don’t have equivalent or better coverage — called creditable coverage — from another plan, you face a permanent surcharge when you do enroll. You may also have a choice between Original Medicare, which is a fee-for-service plan run by the government, or a Medicare Advantage plan if one is available where you live. Medicare Advantage plans are private insurer plans.

Medicare Choice MSAS

Health / Health Insurance / Medicare Choice MSAS: Accounts created by contributions from HCFA to pay out-of-pocket medical expenses for Medicare beneficiaries. The accounts are used in conjunction with high-deductible, catastrophic healthcare policie MORE

Medicare Part C

Health / Health Insurance / Medicare Part C: The part of Medicare that expands the list of different types of entities allowed to offer health plans to Medicare beneficiaries. Also known as Medicare+Choice. See also Medicare. MORE

Medicare Part D

Health / Dentistry / Medicare Part D: A prescription drug benefit for Medicare-eligible seniors and disabled persons. It was established as part of the Medicare Prescription Drug, Improvement and Modernization Act (MMA) that President Bus MORE

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