Understanding Your Medicare Coverage
Medicare is health insurance that can save beneficiaries thousands of dollars each year. Making the decision to enroll in Medicare is extremely important, as it can be a helpful resource during retirement. Once you’ve enrolled in Medicare, it’s important to make sure that you fully understand your policy and its coverage.
If you don’t fully understand your coverage and receive care that’s not within your policy, you may have to pay for some or all of the costs entirely out-of-pocket. Healthcare is expensive and this can be financially burdensome. Being able to understand your policy and its many features will save you money and ensure that your policy is paying for as much as possible.
The Various Areas of Medicare Coverage
Medicare Advantage and Original Medicare are the two main areas of coverage within Medicare. Picking between these options will determine the type of coverage you have and if there’s any flexibility built into it. If you’re confused about what these two options are, it’s best to reach out to an insurance agent. They’ll be able to answer your questions and provide guidance about what the best course of action is for you.
Inpatient Coverage
Inpatient coverage is provided primarily through Part A. It’s important to note that just because Medicare does cover some inpatient services, there are definitely some that are not within coverage. Keep this in mind if you’re admitted to a care facility.
Medicare provides coverage for a variety of inpatient facilities. From hospital care to hospice care, the variety of inpatient services is vast within Medicare.
Many people think of hospital services when asked about inpatient care. While Medicare does cover hospital admittance, there are restrictions in place. First off, Medicare only covers services if they’re medically necessary. There is tiered coverage when it comes to how much beneficiaries will pay. The longer the stay lasts, the more of the costs beneficiaries will need to cover. All of this resets at the beginning of the next insurance year, however.
Medicare coverage does exist for inpatient psychiatric care. This type of care follows the same lines as the rest of Medicare: if it’s medically necessary, it’s most likely covered.
Skilled nursing facility care is covered, but only if it’s short-term. Individuals that are looking for a long-term care option should seek another form of insurance to cover those costs. Medicare is not intended to be a permanent solution if you’re looking for insurance to cover 24/7 care for a long period of time.
Have Questions About Medicare?
Medicare can be complicated, so it’s always good to learn more. If you’re interested in the ways you can use your Medicare coverage, give us a call. We’re here to provide support and the answers that you need to use your coverage to the fullest. If you’re feeling at all confused, don’t hesitate to reach out to a professional. We make the process easier, so use all the resources you have available and give us a call.