Part A Hospital Insurance
- Helps cover inpatient care in hospitals
- Helps cover skilled nursing facility care, hospice care, and home health care
- Part A coverage is usually premium-free to anyone who has worked for a minimum of 10 years and paid Medicare taxes.
Part B Doctors
- Helps cover services from doctors and other health care providers, outpatient care, and home healthcare
- It Helps cover durable medical equipment
- It Helps cover many preventive services
- Helps cover mental health care
- Helps cover lab work
- The cost of Medicare Part B is dictated by Social Security and varies from year to year. People in higher income pay more than those in lower income. How much you pay is regulated by your adjusted gross income that was reported to the IRS.
Part C Medicare Advantage Plans
- Medicare Advantage plans are health plans run by Medicare-approved private insurance companies.
- Medicare Advantage plans replace Original Medicare and include Part A, Part B, and some other coverages like prescription drug coverage.
- The costs of these plans will differ by carrier, county of residence, and the plan you choose.
- To enroll in a Medicare Advantage plan, you must first be enrolled in Part A and Part B and also live in the plan’s service area. Once you enroll, your coverage will come from the Advantage plan
- Unlike Parts A and B, you don’t have to enroll in Medicare Part C at your Social Security office. This is because Part C is voluntary. Many beneficiaries would rather receive their Medicare coverage from Original Medicare and conventional Medicare Supplement plan.
Part D Prescription Drug Coverage
- Helps cover the cost of prescription drugs.
- You can have this as a standalone plan with Part A and/or Part B, or you can obtain prescription drug coverage through a Medicare Advantage plan.
