Summary: What is Medicare: Part E? What does it cover? What are the costs?

Are you in the know about the ABCDs of Medicare: Part E?

Medicare is defined according to Medicare.gov (the official site for Medicare) as “the federal health insurance program for people who are age 65 or older, certain younger people with disabilities, and people with End-Stage Renal Failure (permanent kidney failure requiring dialysis or a transplant, sometimes called ERSD)”.

This article is part of a series of articles:

1. Medicare Overview
2. Medicare Part A
3. Medicare Part B
4. Medicare Part C
5. Medicare Part D
6. Medicare Part E? Medicare Supplements

What does Medicare Part E cover?

You might be aware of now decade old proposal for a Medicare Part E(veryone). Nothing ever become of the proposal, but with the current political climate revisiting “Medicare for All” you may want to read this Brookings report on the subject.

In lieu of an official Part E of Medicare, there is an additional aspect of Medicare deserving consideration. The missing link is called Medigap insurance or maybe referred to as a Medicare supplement. This type of insurance is used to fill in the gaps and provide coverage for some of the things Medicare doesn’t cover such as: coinsurance, co-payments, and deductibles.

For more information on Medicare Supplemental Insurance, visit AARP.

Here is a good article on how does Medicare Advantage, Medicare Supplemental Insurance differ.

8 facts specific to Medicare Supplements

1. You must have both Medicare A and B since this type of insurance is a “supplement”.
2. You can apply for a Medicare supplement even if you have a Medicare Advantage plan.
3. Premiums are charged for Medicare Supplements in addition to the premiums paid for Plan B.
4. Medicare supplements apply to only one person – doesn’t extent to a spouse.
5. You can buy Medicare supplements from any insurance company licensed in your state.
6. Medicare supplements require guaranteed renewal.
7. Medicare supplements do not cover prescription drugs.
8. It is illegal for anyone to sell you a Medicare supplement if you have a Medicare Medical Savings Account plan.

This article completes the series on Deciphering the ABCDs of Medicare. We hope they have been enlightened and we have provided clarity as to the differentiation of each of Medicare’s parts.

Comments

We invite all comments in regard to this article. What are your thoughts on Medicare? What are your thoughts on the Affordable Care Act and Medicare?  Do you think the system is working? Do you think Medicare should be regulated and administered at the individual state level? How will the healthcare insurance exchanges impact Medicare?

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