Retirement; like your parents, but way cooler
In 1991 Billy and Akaisha Kaderli retired at the age
of 38. Now, into their 4th decade of this
financially independent lifestyle, they invite you
to take advantage of their wisdom and experience.
the parts of Medicare?
The ABCD’s explained
Medicare is an insurance program in the
United States. A US citizen is qualified to receive Medicare if they are 65
years old and older or if they have a disability.
Medicare generally consists of two main
Medicare coverage plan options. These options are the Original Medicare plan and
the Medicare Advantage plan. There are also other Medicare plans that partner
with private companies to provide Medicare coverage. The Original Medicare plan
is the most basic plan received from Medicare. Those who receive Social Security
checks are automatically enrolled in the Original Medicare plan.
There are four different parts of Medicare,
each with their own types of coverage. The two main parts of Medicare are
Medicare Part A and Medicare Part B. Part C and D are different Medicare plan
types. Part C is another name for the Medicare Advantage plan, and Part D is
covered in Medicare drug plans.
Part A & B
Part A and Part B are both included in the
Original Medicare plan, which is the standard plan for Medicare. These plans are
also included in the Medicare Advantage Plan, or Part C. They are the two main
parts of coverage in both coverage plans for Medicare and the insurance program
as a whole.
In general terms, Part A covers the costs
of hospital-related care and is defined as Hospital Insurance by the
medicare.gov website. Part B covers necessary medical services and
preventative services. It is defined as Medical Insurance on the Medicare
Examples of the types of care Part A covers
include hospital visits, nursing home care, hospice care, nursing facility care,
and other similar services. Part B covers care such as ambulance services,
mental health services, and other medical or preventative services.
Part D refers to the prescription drug
portion of Medicare coverage. Although it is generally only covered to a certain
extent in the Original Medicare plan, it is included in most types of Medicare
Advantage plans and some of the other Medicare plans.
There is an option to add prescription drug
coverage to a Medicare plan that does not already cover it. Those with Medicare
can add a Medicare drug plan to their existing coverage plan. There is also the
option to choose the Part C Medicare Advantage Plan or another Medicare plan
that includes prescription drug coverage.
Part C or Medicare Advantage Plan
The Medicare Advantage Plan, or Part C, is
one of the plan options for Medicare. Along with providing the basic Part A and
Part B Medicare coverages, they also generally provide more benefits and
coverage. They are offered by approved private companies that are partnered with
As stated on the Medicare website, the most
common Medical Advantage Plans are Health Maintenance Organization (HMO) Plans,
Preferred Provider Organization (PPO) Plans, Private Fee-for-Service (PFFS)
Plans, and Special Needs Plans (SNPs).
Which plan is right for you?
There are a variety of Medicare insurance
plans that provide specific types of coverage. With the Medicare options having
a variety of coverage types and benefits, it can be hard to compare these plans
and decide which is the best option for the type of coverage that is needed.
To help guide the process, there are
resources that can help those who are looking to compare a variety of Medicare
like Part D. These resources allow for comparing plans online to find the
right type of Medicare plan based on the included coverage, benefits, and price.
For more information, medicare.gov also
offers a wide variety of resources and information in regards to choosing the
right Medicare insurance plan.
For more information on Medical Insurance and Health Insurance
For more information on Medical Tourism,
About the Authors
Early Lifestyle appeals to a different
kind of person – the person who prizes their
independence, values their time, and who doesn’t
want to mindlessly follow the crowd.
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About Billy & Akaisha