It’s important to know each of the Parts of Medicare. We will continue to discuss your options in greater detail in future articles. Let’s begin by defining each Part to build a foundation on which to build knowledge.
Medicare Part A (Hospital Insurance)
Medicare Part A helps pay for hospital stays and inpatient care. Individuals cannot be denied Part A coverage. They can go to any qualified health care provider in the United States who participates in the Medicare program and is accepting Medicare patients.
Medicare Part B (Medical Insurance)
Individuals cannot be denied Part B coverage. They can go to any doctor or qualified health care provider in the United States who participates in the Medicare program and is accepting Medicare patients.
Medicare Part C (Medicare Advantage)
Medicare Advantage (Part C) plans require enrollment in Parts A & B. Medicare Advantage Plans plans are offered by private insurance companies approved by Medicare. Choices vary depending on location. Coverage and costs beyond the standards set by Medicare vary from plan to plan. Some plans require the use of provider networks.
Medicare Part D (Prescription Drug Coverage)
Medicare Part D helps with the cost of prescription drugs. Individuals must be enrolled in Part B to be eligible for a Part D plan. They can get drug coverage with a standalone Part D plan or as part of a Medicare Advantage plan (Part C). Part D plans are offered by private insurance companies approved by Medicare. Choices vary depending on location. Coverage and costs beyond the standards set by Medicare vary from plan to plan. Some plans have pharmacy networks and mail order pharmacies that offer discounted prices.
