Parts of Medicare
01.
You usually do not pay a monthly premium for Medicare Part A coverage if you and your spouse paid Medicare taxes for a certain amount of time while working (10 years or 40 quarters). This is sometimes called "Premium-Free Part A". Most people get premium free Part A. This helps cover inpatient care in hospitals, skilled nursing facility care, hospice care, and home health care.
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02.
Part B: Medical Insurance
Helps cover: Services from doctors and other health care providers. Outpatient care. Home health care. Durable medical equipment (like wheelchairs, walkers, hospital beds, and other equipment). Many preventative services (like screenings, shots and vaccines, "Wellness" visits).
03.
Part C: Medicare Advantage Plans
Medicare Advantage Plans combine Part A and Part B with many plans, prescription drug coverage (Part D) is also known as MAPD. Plans are offered by private insurance companies and must be as good or better than original Medicare. Medicare Advantage plans are NOT a Medicare Supplement or Medigap plans. It provides the same rights and protections as original Medicare. There are copays and coinsurance. The plans have a maximum out-of-pocket for each year and it caps your out-of-pocket costs.
04.
Part D: Prescription Drug Plans
Helps cover the cost of prescription drugs. You join a Medicare drug plan in addition to Original Medicare, or you get it by joining a Medicare Advantage Plan with drug coverage included in the plan. Plans that offer Medicare drug coverage are run by private insurance companies that follow rules set by Medicare. Each company has their own drug formularies and benefits and can and do change from year to year.
Before choosing a plan we want to be sure you know the difference between your many options; In particular how Medicare Supplement Insurance Plans and Medicare Advantage Plans differ. Many people sign up for Medicare Advantage Plans thinking they are Medicare Supplement Insurance Plans, they are not.
