What is Medicare?

Medicare is Federal Health Program for citizens who are Age 65 and older and individuals with certain disabilities (typically collecting Social Security benefits). The program is funded by Social Security and Medicare taxes that most Americans pay through payroll deductions through an employer or an individual tax return. 

Types of Medicare

The A, B, C, D's of Medicare

Part A: helps cover hospital expenses such as room, board and other inpatient services, limited stay in a skilled nursing facility, and helps cover hospice care and home-health care
Part B: helps cover medical expenses, such as doctor's services, outpatient services and other medical supplies. It also helps cover some occupational and physical therapy services and some home-health care. It also covers some preventive services. Typically, the monthly premium you pay for Medicare Part B is deducted from your Social Security benefits.
Part C: also known as the Medicare Advantage Plan. It covers all of your Medicare Parts A and B benefits plus they may also include Medicare Part D prescription drug coverage. With a Medicare Advantage plan that includes prescription drug coverage, you simply choose to receive your benefits through a private health insurance company, giving you the convenience of an all-in-one plan. You may also receive ancillary insurance through Medicare Part C.
Part D: helps manage the costs of your prescription medications, you generally will need to add on a Medicare Part D plan, also known as prescription drug coverage.

Components of Medicare

Beneficiaries of Medicare will enroll in Part A and to be eligible for Part C and D, you have to enroll in Part B. In most cases, beneficiaries who turn 65 get automatically enrolled in Part A and then elect Part B online or through the Social Security office.

Virginia Asset Group Insurance Services, is a licensed and certified representative of Medicare Advantage organizations with a Medicare contract. Enrollment in any plan depends on contract renewal.