Preparing For Aging: Understanding Medicare
Health care needs tend to increase with age. For senior citizens and soon-to-be senior citizens, it is crucial to have an understanding of Medicare coverage. At Fisher Law LLC, we are proud to be a leading elder law firm serving Massachusetts. Within this article, our Norwood elder lawyer provides an overview of the key points seniors and near-seniors should know about Medicare and health care more broadly.
Medicare is a Federal Health Insurance Plan for Senior Citizens
Medicare is the federal health insurance program for those 65 years of age and older. Some limited younger people with disabilities may also qualify for coverage. It is a comprehensive and complex federal program. Medicare helps cover many medical expenses—though, there are multiple different parties. Here is an overview for seniors and near-seniors in Massachusetts:
- Part A: Part A covers inpatient hospital stays, hospice care, and some home health services. For most people, there is no monthly premium for Part A if you or your spouse have paid Medicare taxes for a certain amount of time. Though, some deductibles and coinsurance apply for certain types of services.
- Part B: Part B takes care of outpatient care like doctor’s visits, preventive services, and medical supplies. Unlike Part A, Part B requires a monthly premium. The monthly premium can vary based on your income. Deductibles and coinsurance may apply as well.
- Part C: Medicare Part C is also known as Medicare Advantage. It is offered by private companies approved by Medicare, Part C combines Parts A and B and often includes additional benefits like prescription drug coverage, dental, and vision care. These plans may have different out-of-pocket costs. You or your loved one may want to review the options.
- Part D: Part D helps cover the cost of prescription medications. These plans are offered by private insurers and can vary in terms of covered medications and costs. Similar to Medicare Advantage (Part C), enrollment in Medicare Part D is entirely optional.
Medicare Provides Limited Nursing Home Care Benefits (Medicaid is Public Program)
A key misconception about Medicare is that it will cover a senior citizen’s long-term care needs. With very limited exceptions, that is actually not the case. It may cover short-term stays in a skilled nursing facility after a qualifying hospital stay, that is, rehab, but it does not cover long-term custodial care. For those needing extended nursing home care, Medicaid—a separate public program—provides coverage. The difference matters because Medicaid is strictly means-tested. As a senior or near-senior, you should start Medicaid planning at least five years before long-term care needs.
Contact Our Norwood Elder Law Attorney Today
At Fisher Law LLC, our Norwood elder law attorney is a member of the National Association of Elder Law Attorneys (NAELA) and its Massachusetts chapter. Our Norwood attorney is also a VA-accredited attorney and helps certain Veterans with securing another benefit used to help pay for certain long-term care needs at home or in assisted living facilities. In addition, she is a member of the Academy of Special Needs Attorneys If you have any questions about elder law and long-term care planning, we are here as a committed resource. Contact us today for a confidential consultation. With an office in Norwood, we provide legal representation in Norfolk County and throughout the Greater Boston area.
