Understanding the Parts of Medicare
No one wants to learn about Medicare until they need to, partly because it is so confusing. However, there are many aspects you will want to become familiar with, such as eligibility, enrollment periods, and Insurance options.
One of the most common questions I am asked is what are all the different parts of Medicare? Here is a very brief breakdown of the “alphabet soup.”
The two parts that cover basic Medicare are Part A & B, plus Part D.
Part A covers your hospital stay.
Part B covers your medical.
You are also required to add a prescription drug plan if you do not have creditable coverage from somewhere else (like veterans benefits, etc.) Part D covers your prescription drugs.
What about Part C?
Part C is all of the above combined into one. Part C is also known as an Advantage Plan. This is one option for improving your coverage offered by original Medicare.
You may have seen the commercials for the generous benefits of a Medicare Advantage Plan. Do they seem too good to be true? Like is there is a catch? There isn’t!
What I like about Advantage plans is that there are many to choose from. So we can find a plan that not only fills your healthcare and prescription drug coverage needs, but you also get an abundance of additional benefits such as removing the need for additional dental and vision insurance, paying for a gym membership, and saving on some over the counter drug costs.
Medicare Education Series
If you still have questions, join me for an Educational Event for a more detailed explanation and an opportunity to get your questions answered.
Tuesdays at 10:00 am, join me here for an online meeting by simply clicking this link or by clicking on the button at the top of this post.
If online events are not your thing, please give me a call! We can go over the same information over the phone.