Millions of Americans over the age of 65 utilize Medicare health coverage. But very few fully understand what is covered and what is not.
Most people know that any American age 65 or over is eligible for Medicare coverage but few understand how this coverage really works. Medicare is a federal program created to assist older Americans with medical costs. The program is divided into two parts. Part A is hospital insurance, which covers some of the bills for a stay in a hospital or a nursing facility. Part B is medical insurance which pays for the costs of doctors and outpatient care. If you are 65 or older and eligible for Social Security, survivor’s or dependent’s benefits, you are automatically eligible for part A coverage. Even people who are not eligible for Social Security benefits may be eligible for Part A when they turn 65. For a monthly premium, anyone 65 or over can enroll in Part B coverage, whether or not they are eligible for Part A.
One of the worst misconceptions about Medicare is that it covers nursing facility care, The reality is that Medicare nursing facility coverage is very limited which means that most people must pay for virtually all long-term care out of their own pockets.
Because home health care can be much cheaper than nursing facility care, it would seem sensible for the government to encourage home care by covering a sizable portion of the cost. Unfortunately it does not. Medicare pay much less for home care than you would think. Medicare also pays absolutely nothing for custodial care in nursing facilities or other residential long-term care facilities.
It is important to know what long-term care Medicare pays for so you can get the most out of the coverage that is available to you. Bu it is just as important to find out what Medicare does not pay form so you can be prepared to either gather the money needed to get most of your health care and coverage for other resources.
Trying to figure out hat Medicare does and does not cover for long-term care on your own can be very confusing and frustrating. It can also be very costly to your wallet and your health if you make a mistake. There are professionals such as a geriatric care manageravailable that can help make sense of it all. Even though you will have to pay for these services it will save you money and frustration in the long run. It will also help you get the most out of the services available.
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