Money Wise (Special Tips for Those 65 and Up ) - Medicare 4-1-1. If you or someone you care for is 65 or older, or disabled, you need the 4-1-1 on Medicare. Medicare is the health insurance program administered by the US government. There are four key parts: Part A, for hospital insurance. For anyone over 65 or who paid Medicare taxes for at least 10 years, Part A is free and helps pay for hospital stays, nursing facilities and more. Next is Part B — for doctor, outpatient and clinical services. This is optional insurance that supplements anything not covered in Part A. You have to pay a monthly premium based on your income. A lot of services are covered, but it’s always smart to check with Medicare before you visit a new doctor. Part C is known as Medicare Advantage. Formerly Medicare + Choice, it lets people receive Medicare benefits through private insurance plans like HMOs and PPOs. It’s ideal for anyone who needs the flexibility of a private insurance plan. Finally, there’s Part D for prescription drugs. This helps members pay for part or sometimes all of prescription drug costs. It’s optional and requires a monthly premium. For more information on Medicare, visit www.medicare.org.

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