If you’re unfamiliar with the different parts of Medicare, you may be questioning, “What is Medicare Part C and D Coverage?” Medicare Part C and D coverage is health insurance offered to those 65 years of age or older or with certain disabilities. Part C is also known as Medicare Advantage, and Part D is known as prescription drug coverage. In this blog, we’ll review the key components of Medicare Part C and D coverage so you can make an informed decision about your health insurance needs.
Senior Insurance Solutions is here to be your solution for all things Medicare. As a licensed Medicare insurance agent, I understand that choosing the right plan can be overwhelming. However, I will work with you every step of the way to understand your healthcare needs so you can make the best decision for your budget and your health.
Want to know if Medicare Part C or D is right for you? Keep reading to discover more about the different parts of Medicare, including cost and enrollment information!
What are the Parts of Medicare?
There are four parts to Medicare: Part A, Part B, Part C, and Part D. Parts A and B are referred to as “Original Medicare” whereas Part C is known as “Medicare Advantage”. Here is a breakdown of these four parts:
- Part A is hospital insurance that covers inpatient care, nursing facility care, hospice care, and home health care.
- Part B is medical insurance that covers doctor visits, outpatient care, preventive services, and durable medical equipment.
- Part C is known as Medicare Advantage. It’s a way for beneficiaries to receive their Parts A and B benefits through a private health insurance company instead of through Original Medicare. Medicare Advantage plans often include prescription drug coverage (Part D).
- Part D is prescription drug coverage. It helps pay for drugs prescribed by your doctor or other health care provider.
Ultimately, you can understand the different parts of Medicare by what they cover. Think of Medicare Part A as hospital insurance, Part B as medical insurance, Part C as Medicare Advantage, and Part D as drug coverage.
If you already have Medicare Part A or B, you may be wondering if it’s a good idea to enroll in Medicare Part D for drug coverage. At the same time, you could make the decision to buy a Medicare Advantage plan that includes what you need.
To help you make your decision, let’s take a look at the different parts in depth.
What is Medicare Part C Coverage?
Medicare Part C plans, also known as Medicare Advantage plans, are an alternative way to get your Original Medicare benefits. These plans are provided by private insurance companies that contract with Medicare. If you enroll in a Medicare Advantage plan, you will still have Medicare Parts A and B, but your coverage will be through the private insurance company instead of Original Medicare.
You may be wondering, “What does Medicare Part C cover?” Medicare Advantage plans must offer at least the same benefits as Original Medicare. Most plans also offer extra benefits, such as routine dental, vision, or prescription drug coverage. Therefore, if you were to enroll in a Medicare Advantage plan, you could get your Original Medicare benefits and extra coverage all in one plan.
Medicare Part C Cost
The cost of Medicare Part C plans can vary. You will still pay your Part B premium, but you may also have to pay an additional premium for the private insurance company. Some plans may have no monthly premium, but you will likely have to pay copayments or coinsurance for your medical services.
Medicare Part C Eligibility
To be eligible for a Medicare Advantage plan, you must first enroll in Medicare Part A and Part B. You must also live in the service area of the plan you choose.
What is Medicare Part D Coverage?
Medicare Part D is prescription drug coverage. It helps pay for drugs prescribed by your doctor or other health care provider. You can get this coverage through an optional, standalone Part D plan or through a Medicare Advantage plan that includes prescription drug coverage.
Medicare Part D Cost
The cost of Medicare Part D plans can vary depending on the type of plan you choose and the drugs you need. You will pay a monthly premium for your plan, and typically the more you earn, the more you’ll pay for coverage.
Medicare Part D Eligibility
To be eligible for Medicare Part D, you must first enroll in Medicare Part A and/or Part B. When you first sign up for Original Medicare, remember to also sign up for a Part D plan to avoid payment penalties if you decide to enroll later.
Can I Have Medicare Part C and D at the Same Time?
You cannot have both a Medicare Advantage plan and a standalone Part D plan. There are two options for individuals looking for prescription drug coverage.
First, if you have Original Medicare, you can add a standalone Part D plan to get prescription drug coverage.
Secondly, you can enroll in a Medicare Advantage plan that includes prescription drug coverage. However, not all plans do, so keep this in mind because you can’t have Medicare Part C and D at the same time.
If you are enrolled in a Medicare Advantage plan that doesn’t offer drug coverage, such as a Medicare Medical Savings Account, understand that you will be disenrolled from your Medicare Advantage plan and returned to Original Medicare should you join another Medicare drug plan. Therefore, if you want to keep your Medicare Advantage plan, that means you would have to either use other prescription drug coverage, such as employer coverage, or go without it.
The Takeaway of Medicare Part C and D Coverage
If you already have Medicare Part A and B, enrolling in a Medicare Part D plan may be a great option for you! These plans are standalone prescription drug coverage plans. You can get this coverage through an optional, standalone Part D plan or through a Medicare Advantage plan that includes prescription drug coverage.
Get the Best Medicare Enrollment Help with Senior Insurance Solutions
Knowing the different parts of Medicare can be confusing. It is difficult to know which plan has the best coverage for your needs. Hopefully, this blog has helped you understand which parts of Medicare you require and how to get the best coverage.
Senior Insurance Solutions can help you understand your Medicare options! I am a licensed Medicare insurance agent with years of experience. As an expert in my field, I help my clients choose the best Medicare drug plans for their needs. Do you have questions about enrolling in Medicare? I can help! Contact Senior Insurance Solutions to get the best Medicare enrollment assistance.
