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Medicare Age Benefits

Thought there are some exceptions, the vast majority of Medicare beneficiaries are people aged 65 or older. Eighty-four percent of people who used Medicare in 2009 were 65 or older and the program was originally designed to help provide health care for people in this demographic. There are four parts to the Medicare program, each with its own benefits and costs. People who use Medicare can also purchase one of the standard supplement plans in order to gain additional benefits and coverage.

  1. Medicare Part A

    • Medicare Part A, along with Part B, is often called traditional or original Medicare. Part A has benefits for inpatient hospitalizations, skilled nursing facility stays, home health services, inpatient care in a non-medical religious health care institution and hospice care. Part A is offered free of premiums if you have worked at a job at least 40 quarters (10 years) and paid Medicaid taxes. If not, you purchase Part A through monthly premiums.

    Medicare Part B

    • Medicare Part B covers two kinds of health services: preventive and medically necessary. Preventive services include health screenings, wellness programs, smoking cessation therapy and certain vaccinations. Benefits for medically necessary services will only cover treatment and supplies you need to cure or diagnose a medical condition and that meet accepted standards for medical practice. Medicare Part B requires a monthly premium payment, and many of Part B's services also require a co-payment of 20 percent.

    Medicare Advantage

    • Medicare Advantage, Part C, bundles Part A and Part B Medicare with additional benefits. Medicare Advantage (MA) is offered through private companies instead of the government. While MA plans must include all the benefits of Part A and Part B, except for hospice, the companies that offer them can charge their own premiums, deductibles, out-of-pocket costs and co-pays. Additional benefits you may find in MA plans include prescription drug coverage, eyeglasses, eye exams, hearing and dental.

    Medicare Part D

    • Part D Medicare covers prescription drug coverage only. You are not required to get Part D, and if you already have medication benefits from a Medicare Advantage plan, you cannot also enroll in a stand-alone Part D plan. However, if you do not enroll in Medicare Part D when you are first eligible and then change your mind later, you will be responsible for late enrollment penalties.

    Medicare Supplements

    • The exact Medicare supplements you can purchase depend on your state. Each state can offer up to 10, although some states offer fewer. Medicare supplements, called Medigap, offer benefits such as original Medicare co-payment and coinsurance coverage, foreign travel emergency coverage and the costs of blood. During your open enrollment period for Medigap, which lasts six months, you can change plans as often as you like and companies cannot refuse to sell you a plan because of your age or health, although they can require a waiting period up to six months for pre-existing conditions.

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