If you are eligible for Medicare or will be eligible soon, you may be wondering whether your Medicare coverage will pay for all of your healthcare expenses. Unfortunately, only a portion of certain procedures are covered and there are some treatments and types of care that are not covered at all. You can tailor your benefits with a Medicare Advantage plan sometimes, but even this does not guarantee complete coverage for all medical expenses.
This is what we know about the costs covered by Medicare.
What is Medicare?
Medicare is a public health insurance program that provides health insurance to senior citizens and people with qualifying disabilities. Tens of millions of people currently have Medicare, but not all of them receive the same benefits. Although the core benefits offered through Parts A and B of Medicare are available to everyone, people who purchase Medicare Advantage plans may receive additional benefits that are not available to Original Medicare beneficiaries.
Through Part A, plan members receive hospital insurance that covers inpatient treatment and stays in healthcare facilities. Part B offers medical insurance instead, providing financial support for the costs of medically necessary services and preventive care. With Part D prescription drug coverage, Medicare beneficiaries can also get help paying for their prescription medications. For Medicare Advantage plan members, Part D benefits are usually included directly through their plans.
What is Not Covered by Medicare?
It is important to note that Parts A and B do not usually cover the full costs of medical services that are technically covered by the policies. Even when treatments are covered, you will likely be responsible for out-of-pocket costs like deductibles, copayments, and coinsurance. In some instances, excess charges can also be charged to Medicare beneficiaries.
Beyond those out-of-pocket costs, there are also treatments and services that are not covered at all. Some of the items that are not covered by Medicare include:
- Long-Term Care (also called custodial care )
- Most dental care
- Eye exams (for prescription glasses)
- Dentures
- Cosmetic surgery
- Massage therapy
- Routine physical exams
- Hearing aids and exams for fitting them
If you need these services, you will likely need to pay for them directly or using another form of insurance policy, such as long-term care insurance.
Find the Right Medicare Coverage
You may not have known that you have options when it comes to Medicare coverage. To shop for a Medicare Advantage plan that covers the services you may need in the future, work with Better Insurance Management to compare your options. We can help you get started immediately!
