MEDICARE PART A
- This government program helps with the cost of hospitalization, skilled nursing up to 100 days, and hospice care to eligible individuals.
- This program has deductibles and co-payments.
- Part A and Part B make up Original Medicare. No drug coverage is provided.
MEDICARE PART B
- This program helps with the cost of doctor visits, outpatient services such as lab work or radiology, to eligible individuals.
- This program has deductibles and co-payments.
- Part A and Part B make up Original Medicare.
- No prescription drug coverage is provided.
MEDICARE PART C
- Medicare Advantage plans are sometimes referred to as Part C. These plans are offered by private insurance companies.
- Combining the benefits of Part A and Part B some of these plans also offer Part D Prescription drug plans embedded in the plan.
- Plans vary from county to county and may change from year to year.
- Plan benefits, premiums, co-payments and co-insurance may also vary greatly.
- These plans normally have networks and will require a referral to a specialist.
MEDICARE PART D
- Part D Prescription drug plans are offered by private insurance companies.
- They provide help with the cost of prescription drugs.
- While it is not mandatory to enroll in these plans, if you do not enroll upon eligibility you may incur a permanent penalty later.
- Plans include formularies which is a list of covered drugs and are organized by tiers.
- Plan benefits, premiums, co-payments and co-insurance may also vary greatly.
MEDICARE SUPPLEMENT INSURANCE PLANS
- Private insurance companies offer these plans to help cover some of the cost associated with Part A and Part B services.
- These plans are sometimes referred to as Medi-gap plans. There are numerous plans to choose from in most states.
- These plans do not offer prescription drug coverage.
- Plan benefits, premiums, co-payments and co-insurance may also vary depending on your location, age and level of coverage you choose.
- Plans have no network so you may go to any doctor who contracts with Medicare and will accept you as a patient.