Aging causes you to look at your healthcare coverage in a whole new light. Even the healthiest seniors ask themselves “What does Medicare cover?” As you’re reaching retirement age and looking ahead to your next phase of life, find out what you can expect from Medicare so you can make educated, informed decisions about your coverage. It’s important to ensure that your healthcare coverage provides all of the benefits you need, but the costs stay minimal and within your budget.
- Does Medicare Cover Hospital Stays?
If you have original Medicare, you will pay a deductible, then Part A will cover 60 days of your hospital stay. After that, you will have to pay a daily coinsurance fee for days 61 to 90. From day 91 and beyond, the coinsurance fee goes up, and these days count against your lifetime reserve allotment, which is maxed out at 60. Once you’ve exhausted your reserve allotment, you are responsible for all hospital stay costs.
You can purchase a Medigap plan that pays for coverage for an additional 356 days after your Medicare coverage has run out.
- Does Medicare Cover Ambulance Services?
Medicare will cover ambulance services if it is the only safe way to transport you and you are in need of a covered Medicare healthcare treatment. The ambulance provider must meet Medicare’s ambulance requirements. While Medicare typically only covers ambulance services in an emergency, there are cases where scheduled transports are covered, such as if you have a signed doctor’s order that states ambulatory care is necessary during transport.
- Does Medicare Cover Medically-Necessary Equipment?
Part B covers durable medical equipment prescribed by your doctor for in-home use. You will be responsible for 20 percent of the Medicare-approved amount and your Part B deductible. Your doctor and the equipment supplier must be enrolled in Medicare for your plan to accept assignment.
- Does Medicare Cover Prescriptions?
There are two ways to get prescription drug coverage. You can sign up for Medicare Part D or you can sign up for a Medicare Advantage Plan (Part C). Depending on the number and exact types of prescriptions, your costs will vary from plan to plan
- Does Medicare Cover In-Home Healthcare?
Medicare will cover in-home care for people who meet certain conditions. First, their doctor must determine that home care is medically necessary. The doctor will have to outline a plan for at-home care involving therapy or skilled nursing. They must be cared for by a Medicare-certified agency and they must be home bound.
- Does Medicare Cover Mental Health Services?
Medicare Part B covers depression screenings, individual and group therapy, family counseling, psychiatric evaluations and more. The annual depression screening is free, and other care falls under your Part B coverage, meaning you are responsible for 20 percent of the Medicare-approved costs and your deductible applies.
- Does Medicare Cover Vision and Dental?
While original Medicare doesn’t provide vision and dental coverage, there is a wide selection of Medicare Advantage Plans that do – review your options to find a plan that meets your needs.
My Senior Health Plan can help you make the right decision on healthcare for both your finances and your wellness. Contact our team today for assistance in the Medicare enrollment process.