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Medical Insurance

There are four parts in Medicare :

  • Medicare Part A -- Hospital Insurance
  • Medicare Part B -- Medical Insurance
  • Medicare Part C -- Medicare Advantage, which was formerly known as "Medicare + Choice"
  • Medicare Part D -- Prescription Drug Coverage.

Generally, people who are over age 65 and are getting Social Security automatically qualify for Hospital Insurance (Medicare Part A) and Medical Insurance (Medicare Part B).

The same applies to people who have been getting disability benefits for two years, to people who have amyotrophic lateral sclerosis (Lou Gehrig's disease) who receive disability benefits and to people who have permanent kidney failure and receive maintenance dialysis or a kidney transplant.

Medical Insurance (Medicare Part B)

Medical Insurance (Medicare Part B) helps cover doctors' services and outpatient care. It also covers some other medical services that Hospital Insurance (Medicare Part A) doesn't cover, such as some of the services of physical and occupational therapists, and some home health care.

Medical Insurance (Medicare Part B) helps pay for these covered services and supplies when they are medically necessary. Medical Insurance is paid for by the monthly premiums of people enrolled in this insurance and by general funds from the U.S. Treasury.

Monthly Premium of Medical Insurance

The Medical Insurance (Medicare Part B) premium amounts for 2007 are determined by the Department of Health and Human Services (HHS). The premiums paid by beneficiaries enrolled in Medical Insurance (Medicare Part B) cover physician services, outpatient hospital services, certain home health services, durable medical equipment and other items.

The standard Medicare Part B monthly premium will be $93.50 in 2007, an increase of $5.00 from the 2006 $88.50 premium.

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