Medicare benefits are provided by the federal government. The good news is that they pay for the majority (but not all) of most senior’s medical bills.
Unfortunately, the not so good news is that Medicare benefits typically do not cover about 20% of senior’s medical bills; and with medical expenses frequently running into thousands and hundreds of thousands of dollars, uncovered expenses can be a very big number. In addition, Medicare does not cover most home care and long-term care expenses.
Fortunately, in addition to Medicare, there are several low-cost and possibly no-cost government funded healthcare insurance options. ACCESSMed’s mission is to help low income seniors understand and enroll in them.
Original Medicare is made up of two parts: Medicare Part A covers hospital insurance, and Medicare Part B covers medical expenses such as doctor visits, lab work and some medical equipment.
Original Medicare typically covers about 80% of Part A and Part B expenses. Patients are responsible for the remainder of their medical expenses, including prescriptions.
Individuals who select Original Medicare should consider selecting an additional private insurance plan to to cover their prescription drug expenses, or a more comprehensive Medicare Supplement Insurance plan (known as Medigap) to fill in the “gaps” in hospital and medical expenses that Original Medicare does not cover.