Medicare: What is it?

Dear Nana,

I have been working hard to understand Medicare insurance so that I can explain it to you and your friends. This market is confusing, many insurance topics are. I feel that the way technology is improving the world today at such high speed, your generation is being forced to adapt to “improvements” that don’t seem to suit the lifestyle you’ve grown fond of.

These letters are for you to learn the basics, if you need more explanation, I’m always a phone call away. I was given an office phone, put my number in your contacts: 701-478-0113

I want to tell you what Medicare is, and how it can help protect your dream for a happy retirement. Let me start by defining Medicare, and sharing the outline of the program.

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Medicare is tax payer funded health insurance. The government provides insurance benefits to retirees and disabled citizens to ensure that in retirement there is accessible health insurance for you.

Medicare has two sides, four parts, and countless plan options. To be certain we choose the options you need, let’s talk before you make any decisions.

Medicare has two “sides”, one that is public and one that is private. The government provides health insurance to citizens, and private companies offer insurance plans that supplement what is provided by “Original Medicare.” To get private Medicare insurance, you must be enrolled in what the government provides.

Medicare has four parts.

1. Part A (Hospital Insurance)
2. Part B (Medical Insurance)
3. Part C (Medicare Advantage)
4. Part D (Prescription Drug Insurance)

Parts A and B are what the government provides, they make up “original Medicare.”

Part C and Part D are two examples of private Medicare insurance. These and a number of other private insurance options allow you to purchase more protection, if desired.

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This is basis for an understanding, but only an introduction. Call me, write me, or message me and I will share more of my learning with you.

I hope to see you soon,

Dylan