What does Medicare Cover?
Part A (Hospital Insurance)
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Run by the federal government
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Helps pay for some of the costs of inpatient care in hospitals, skilled nursing facility care, and hospice and home health care
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You must pay a deductible. $1,600 is the medicare deductible for each benefit period in 2023
Private health plans under Part C or Medicare Supplement (Medigap) policies can help cover costs
Part B (Medical Insurance)
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Ran by the federal government
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Helps pay some of the costs of doctor services, outpatient care & other medical services.
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You must pay a Part B Premium. The standard Part B premium in 2023 is $164.90 (or higher depending on your income).
You must pay a deductible. In 2023 $226 is the deductible. After the deductible is met , you typically will pay 20% of the Medicare approved amount for doctor services (including most doctor services while you are in the hospital impatient ) outpatient therapy, and durable medical equipment(DME) .
Private health plans under Part C or Medicare Supplement (Medigap) policies can help cover costs.
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Part C (Medicare Advantage)
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Some Plans include extra benefits such as dental,hearing,vision,and health club memberships.
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Run by private insurers and regulated by the Federal Government.
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Costs, extra coverage, and rules may vary from plan to plan.
Many Part C plans have prescription drug coverage (part D) built in to the plan.
Part D (Prescription Drug Plans)
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Helps cover some of the cost of prescription drugs.
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Ran by Medicare approved private insurance companies
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May help lower your drug costs