Medicare is the nation's federal health insurance program. Through taxes deducted from your paycheck, you contribute to the Medicare program during your working years. Then, usually at age 65, you are eligible for coverage. Medicare is designed to provide basic assistance with health care costs; but it does not cover all medical expenses, nor the cost of long-term care. Medicare has two parts: part a is hospital insurance. It helps pay for a hospital stay, skilled nursing facility, home health care, and hospice care. Everyone who has paid into Medicare while working can get part a, at no cost. Part b Medicare is medical insurance; to receive this, you must pay a monthly premium. However, you do not have to take part b; it's your option. The medical insurance portion covers doctor's fees, x-rays, ambulance services, and other items not covered by part a Medicare. To get specific costs for Medicare part b, such as premium amounts, deductibles, and coinsurance payments, contact social security. These figures change each year, and are published in their fact sheet, titled 'social security update.
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