With more Americans turning 65 (approximately 10,000+ every day), more people are enrolling in Medicare. Let’s look at the four part Medicare system together, to make sure everyone’s on the same page as you begin to plan:
Part A: Part A & B are known as Original Medicare. Part A, specifically, is hospital insurance that covers services related to inpatient hospital stays, inpatient nursing facility stays, hospice, and even home health care.
Part B: This section covers medical insurance that helps cover doctor’s visits, outpatient care, durable medical equipment, and preventive services.
Part C: This often falls under the umbrella of Medicare Advantage plans, and they’re offered by private insurance companies. Medicare pays a fixed amount of the cost each month, similar to an HMO or PPO health insurance policy.
Part D: Whether you are an Original Medicare enrollee or an Advantage Plan purchaser, you can purchase Part D prescription medication coverage.
Being prepared as you start to consider enrolling in Medicare is your best bet for finding the best health coverage for you and your lifestyle. Read our full article breaking down Medicare options in Columbia Daily Tribune.
As a financial planner specializing in comprehensive financial planning, Tim enjoys helping clients in Columbia, MO with managing their taxes, financial risks and other financial issues.
If you would like to learn more about this and other personal financial planning topics serviced by Clarity Financial please contact us at 573-447-7007. Clarity Financial, LLC is a fee-only financial advisory firm in Columbia, MO. Appointments are welcome and initial consultations are free.
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