Medicare is a health insurance program run by the federal government which helps eligible persons with the costs associated with health care. Medicare consists four parts, Part A, B, C and D, and each part covers a separate area in the Medicare health care system. There are three main requirements you need to meet in order to qualify for Medicare benefits, they include the following:
- You must have paid taxes into the Medicare system for at least 10 years (usually automatically deducted from your paycheck)
- YYou must be 65 years or older
- YYou have a disability or permanent kidney failure
Medicare Part A covers hospital insurance which aids with the costs associated with inpatient care in a hospital, a skilled nursing facility (following a hospital stay), some home health care and hospice care. Most eligible individuals do not have to pay a premium for Part A due to the following circumstances:
- You receive or are eligible to receive Social Security benefits
- You receive or are eligible to receive railroad retirement benefits
- You contributed Medicare taxes when you were employed in a government job
- You are the dependent parent of someone who worked long enough in a government job where Medicare taxes were paid
Medicare Part B covers medical insurance which helps pay for doctor visits, outpatient hospital care and other medical services which Part A does not cover. Any individual eligible for Part A can enroll in Part B by paying a monthly premium.