Medicare is a federal health insurance program that helps pay for medical costs and services for Americans aged 65 and older, as well as those with certain disabilities and/or conditions. Medicare is made up of four parts, which are Parts A, B, C, and D. Each part covers different services and comes with different costs.
At Senior Insurance Solutions, I am a licensed Medicare insurance agent. I have the knowledge and experience to help you review and choose the right Medicare plan that meets your medical needs and budget. I also am here to be a resource for you and provide guidance on understanding the different parts of Medicare.
Want to understand the different parts of Medicare and their importance? Keep reading to learn more!
The Different Parts of Medicare
There are four parts of Medicare and they each cover different services: Part A, Part B, Part C, and Part D.
Medicare Part A
Part A coverage is also known as hospital insurance. It helps pay for inpatient care in a hospital or skilled nursing facility, as well as some home health needs. Most people don’t have to pay a premium for Part A since it is typically paid for by taxes.
Medicare Part B
Part B coverage helps pay for medically necessary services, such as doctor appointments, preventive care, lab tests, and ambulatory services like physical therapy. It also covers some medical equipment such as wheelchairs or crutches. Most people do have to pay a premium for Part B.
Medicare Part C
Part C coverage is also known as Medicare Advantage Plans. These plans are a combination of Parts A and B, and sometimes even Part D, that are provided by private insurers. They typically come with extra benefits such as vision or dental coverage. You must pay a premium for Part C since it is offered through private insurance companies.
Medicare Part D
Part D coverage provides prescription drug coverage to help you pay for your medications. It works just like any other insurance plan — you can choose a Pharmacy Benefits Manager (PBM) that offers different types of plans with different costs and levels of coverage. Most people will have to pay a premium for Part D as well.
How to Choose the Right Medicare Plan
Choosing the best Medicare plan for your needs and budget can be overwhelming. When you turn 65, you will start to receive a Medicare Summary Notice from the Social Security Administration every three months. This will provide you with information about your Original Medicare coverage (Parts A and B) and what Medicare paid.
If you have Medicare Part C through a private insurer, you will also receive statements from them. It is important to review these statements and consider if any changes need to be made. If you have questions, talk to a licensed Medicare insurance agent who can review your coverage options with you.
Understand the Different Parts of Medicare with Senior Insurance Solutions
This article has provided an overview of the four different parts of Medicare — Part A, Part B, Part C, and Part D. It is essential to understand the different parts of Medicare and how they work together. Doing so can help you make the best decisions for your medical needs and budget.
As a licensed Medicare insurance agent, I am here to help guide you through this process at Senior Insurance Solutions. I strive to provide exceptional customer service and will answer any questions or concerns you may have about understanding the different parts of Medicare and selecting the right plan for your situation. Reach out to me today if you’re ready to explore your options!
