What Is Medicare Insurance? Everything There Is To Know

Posted on: 22 February 2022

If you're nearing your retirement age according to your state's retirement regulations or young and disabled, understanding insurance coverage like Medicare is vital. 

Also, it doesn't have to be you. It can be your spouse, sibling, or parent nearing retirement or living with a disability. Whichever situation you're in, Medicare is the best insurance option for your needs. All the same, because the probability of confusion about Medicare insurance is high in today's world, below is everything you need to know.

What Is Medicare Insurance?

Medicare is a U.S. federal health insurance program offering insurance coverage for retirees of age 65 and young people below age 65 with particular illnesses or disabilities.

To enroll and qualify for Medicare insurance, some mandatory specifications to be eligible for include being a citizen of the U.S., having a residency status, and having the demanded age and health status. 

Residency Status and Citizenship Requirements

To be legally qualified for Medicare insurance in the U.S., you must be a citizen or a permanent legal resident. You must have lived in the U.S. for at least five years consecutively for permanent legal residency status. However, as a non-citizen, a green card will help you benefit from Medicare Insurance.

Health Status and Age Requirements

When it comes to age and health status, you must be at least 65 years for retirees or meet the requirements for disability. Qualifying disability conditions include  end-stage kidney disease, lateral sclerosis, and Lou Gehrig's disease.

How Does Medicare Insurance Work?

Typically, the program has two parts—A and B. It also starts with its primary option, known as the original Medicare. Original Medicare is the section of the program under the federal government's management. Here, you'll be charged for each service.

Additionally, with the original Medicare insurance, you can visit any health care provider and hospital accepting the program for medical services. Moreover, the original cover you get after signing up for the program at your relevant department of Social Security offices or online at the Social Security official platform.

In part A of the program, it's where you receive institutional benefits. Usually, Part A of the program covers you when you get inpatient hospital visits, hospice, skilled nursing services, and home-based care. The program provides:

  • Outpatient medical services
  • Doctor visits
  • Therapy
  • Occupational and physical medical checkups
  • Diagnostic testing for part B

For more information about Medicare services and what qualifies you for this type of insurance, contact a medical provider or insurance agent who can discuss the details with you.