Parts of Medicare
There are four parts that make up Medicare and to most new Medicare beneficiaries this can be very confusing common questions include what the difference between the parts of Medicare and Medicare plans are do they need all the parts and how do they get them.
We break this down to make it easy to understand and utilize on your Medicare journey.
Medicare Part A
This is your hospital insurance it covers common hospital expenses for overnight stays, meals, hospice, home health care, skilled nursing and blood transfusions.
There is no cost for Part A as long as they have worked at least 10 years or are married to someone who is at least 62 years of age and has worked for the same period of time in the US.
Medicare Part B
This part of Medicare covers outpatient services, including coverage for doctor visits, lab work, x-rays/CT scans, preventive care, surgeries, ambulance rides and etc.
Medicare Part C
Part C can be confusing to new Medicare beneficiaries. Unlike the other parts of Medicare which are easily defined, Part C is not necessarily so. In 1997 the balanced budget act created part C which is commonly referred to these days\as Medicare Advantage. This is an alternative to original Medicare and is a private health plan offered by private insurance companies.
Unlike other insurance policies that cover the gaps in Medicare, Medicare Advantage plans often offer lower premiums but less coverage and many many restrictions from who, where and when you can receive your care.
We highly recommend that you check out our YouTube video Medicare Supplement versus Medicare Advantage
Medicare Part D
This is a federal program that was enacted to help lower the cost of retail prescription drugs for senior citizens in the United States.
These plans are sold by private health insurance companies and enrollment is direct through the company rather than the Social Security office.
These plans are optional however if you do not enroll when signing up for Parts A and B you may be charged a late enrollment penalty. There are also specific rules and periods of time in which a person can enroll and disenroll from these drug plans so it is important to be familiar with these plans and how they work.
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