Health Insurance

Medicare Part B

The part of the Medicare program that pays for physician services, outpatient hospital services, durable medical equipment, and other services and supplies.

Medicare Part A Coverage

- Hospitalization (per episode of illness (DRG)- cost for person goes up the longer they are there) - Skilled nursing facility (no coverage beyond 100 days) - home (skilled) health care (100 visits per illness) - hospice care

Medicare

A program added to the Social Security system in 1965 that provides hospitalization insurance for the elderly (65 and older) and permits older Americans to purchase inexpensive coverage for doctor fees and other health expenses.

Terms of major medical policy

Deductible Co-insurance maximum amounts

During the disability elimination period

no benefits are payable

Corridor deductible

Once a major medical policy has paid the full stated amount of limits or benefits to an insured, if additional expenses still exist, the corridor deductible is the amount that must be borne by the insured before additional coverage is available.

Financial consequences Social Security provides protection for

Premature Death Disability Retirement

Medicare Part C (Medicare Advantage)

vision and dental care