Medicare benefits millions of people in the United States. According to Medicare Resources, in 2020, the total Medicare spending stood at about $917 billion. Unfortunately, there are some things that many people don't understand about Medicare. As a result, you may hear some myths and misinformation from time to time. Here are some of the most common myths regarding Medicare services.

1. Medicare Doesn't Cover Prescription Drugs

There are many stories about people failing to get access to prescription drugs because they're not covered by Medicare. It's true that Medicare Parts A and B offer limited coverage that doesn't extend to some drugs. However, Medicare Parts A and B aren't the only plans available. This is why Part D was established. Part D offers prescription drug coverage. However, it's offered as a standalone plan through private insurance companies. You can also purchase it as part of the Medicare Advantage (Part C) plan. It's crucial to ensure that the plan you choose covers all the drugs you need. If you aren't sure which plan to choose, you should talk with a Medicare expert.

2. Medicaid and Medicare Are the Same Thing

While these two have names that sound similar, they're very different things. Medicare is a program that provides health coverage for individuals over the age of 65 and those suffering from end-stage renal disease, among other conditions. On the other hand, Medicaid delivers health insurance to individuals with few resources and those with low incomes. There are people who are eligible for both programs. However, there are different application processes for each program.

3. Medicare Is Only Available to You If You Worked at Some Point

As mentioned before, there are several Medicare programs or parts. Each of these parts has different qualifying criteria. As such, it's important to research and find out the requirements of Medicare services that apply to your situation. For instance, an individual needs at least 40 Social Security Administration work credits, which is equivalent to about a decade of work, to qualify for Medicare Part A. On the other hand, this doesn't apply to Part B and Part D. These programs have separate premiums, and the requirements don't include anything about the applicant's work history.

These are some of the most common circulating myths about Medicare services. Get in touch with R W Evenson Inc. if you need clarity on any matters concerning Medicare. We would love to help you.