Medicare is divided into four main parts, each covering different aspects of healthcare. Here’s a breakdown of each:
- Medicare Part A (Hospital Insurance):
- Covers inpatient hospital stays, skilled nursing facility care, hospice care, and home health care.
- Most people don’t pay a premium for Part A if they or their spouse paid Medicare taxes while working.
- Medicare Part B (Medical Insurance):
- Covers outpatient services like doctor visits, outpatient hospital services, some preventive services (like screenings and vaccinations), and certain medical supplies.
- Part B requires a monthly premium.
- Medicare Part C (Medicare Advantage):
- An alternative to original Medicare (Parts A and B), offered by private insurance companies approved by Medicare.
- Includes all the coverage of Part A and Part B, and often includes additional benefits like prescription drug coverage, dental, vision, and hearing care.
- There may be extra costs for Part C, depending on the plan.
- Medicare Part D (Prescription Drug Coverage):
- Provides prescription drug coverage through private insurance plans.
- Part D requires a separate premium, and the plans vary in cost and coverage.
Medicare Part D (Prescription Drug Coverage) can be combined with options like a Medigap (Supplemental Insurance) to cover gaps in coverage from Parts A and B. We will go over Supplements in another post.
Does that help clarify things? Let us know how we can help you by filling out this contact form.