10 Things You Didn’t Know About Medicare

KOTRYNA ZUKAUSKAITE Facebook Twitter LinkedIn Key takeawaysMedicare covers millions of Americans, but you have several options.There is a late penalty if you miss deadlines, but you can

delay if still working.You enroll through the Social Security Administration.You have to pay premiums and copayments, but you could get financial help.It’s not a family plan and it doesn’t

cover everything, including foreign travel.You can change plans each year.

Ever since President Lyndon Baines Johnson signed Medicare into law in 1965, hundreds of millions of Americans have relied on this program to help pay for their medical care.

Today more than 67.4 million Americans are enrolled. Of those, more than 60 million are 65 and older, and 7 million are younger people with disabilities.

Medicare has evolved through the years. Part A and Part B, called original Medicare, were included in the 1965 law. In 1997, Congress officially created Part C, now known as Medicare

Advantage, the private insurance alternative to original Medicare. And in 2003, lawmakers added Medicare Part D, which covers prescriptions.

Here are answers to some frequently asked questions about Medicare. Detailed information on Medicare eligibility, enrollment and coverage can be found in AARP’s Medicare Made Easy 

series.

Medicare has four basic parts: Part A covers inpatient stays in a hospital or skilled nursing facility, hospice and some home care. Part B covers doctor visits, diagnostic tests and other

outpatient services. Part C, Medicare Advantage, includes coverage for Part A and Part B, but with different copayments than original Medicare; some plans offer additional coverage. Part D

covers prescription drugs.

When you sign up for Medicare, you’ll have to choose between enrolling in original Medicare or a Medicare Advantage plan.

If you pick original Medicare, you’ll need to enroll in a Part D prescription plan if you don’t have other drug coverage. You also should consider buying a supplemental Medigap policy, which

will help pay for your out-of-pocket costs.

If you decide to go with Medicare Advantage, you’ll have to choose the right plan for your needs. These plans typically provide health care and drug coverage and may cover dental, hearing

and vision care.

But each plan can have different coverage and costs. Medicare Advantage plans have provider networks, which means you may pay more or have no coverage if you use out-of-network doctors.