Medicare Parts: Do You Need All 4 Parts?
Medicare Parts A, B, C, and D: Do You Need All 4 Parts?
Medicare (Including Medicare parts A, B, C, and D) is a federal health insurance program for individuals 65-years and older, individuals with particular disabilities and individuals of all ages with end-stage renal disease. Payroll taxes from employers and self-employed individuals fund this insurance program.
What is this ABCD Thing?
The 4 Medicare Parts are A, B, C, and D. Known as the Original Medicare, parts A and B offer the most basic coverage you can get. Meanwhile, parts C and D are available via private health plans and provide ways to enhance your healthcare coverage if you need more than the Original Medicare provides.
Medicare Part A: Hospital Insurance
Medicare Part A covers the costs of the medical facility. If you enroll in Medicare, Part A is automatically offered to you. And for most people, there’s no cost to receive this part.
Services under part A includes doctor visits, surgeries, tests, hospice care, home healthcare inpatient care in nursing facilities and hospitals and home healthcare services.
Medicare Part B: Tests and Doctors
Medicare Part B covers anything done to you. These include medical equipment, doctor’s services, home healthcare, outpatient care, ambulance services, blood purchase and more.
You are required to enroll in Medicare Part B if you do not have creditable coverage from another source, for instance, an employer or a spouse. You will pay a monthly premium with part B. And if you do not enroll and don’t have a credible coverage then you need to pay a penalty.
Once you meet your deductibles, you will need to pay 20 percent of Medicare-approved costs of the service, as long as your healthcare provider accepts Medicare assignment.
What Parts A and B Do Not Cover
The one thing that Original Medicare does not cover is long-term care. In case you are diagnosed with a chronic disease which requires constant personal-care assistance, the type that needs an assisted-living facility, Medicare will cover none of the costs. This also includes all help with everyday activities such as dressing and bathing.
Other uncovered items include dentures, routine eye or dental care, cosmetic surgery, hearing aids, and acupuncture.
Medicare Part C: Medicare Advantage
A good alternative to traditional Medicare coverage, Part C coverage usually includes all of Medicare Parts A and B, prescription drug plan (Medicare Part D) and other benefits.
Private insurance companies administer Medicare Part C, collecting your Medicare payment from the government.
Depending on your plan, you may or may not pay an extra premium for Part C. You do not have to enroll in advantage plans and they have these limitations, such
as the possibility of not covering healthcare if you are away from home.
However, for most people, these plans are better than paying separately for Parts D, B, and A.
Medicare Part D: Prescription Drugs
Medicare Part D covers prescription drugs and also administered by private insurance companies. It is required unless you already have a prescription drug plan from another source such as a Medicare Advantage plan.
Still Need Help?
If you need help with choosing the best Medicare plan, log onto One Source Benefits or you can call me and we can talk about it.
I look forward to talking you through all of this. Take advantage of my 30 years in this industry! As free consultations are hard to come by, simply because of the time and the demand, unfortunately, we have a short window.
But, give me a call today at my Medicare phone number (877-549-1212,) we’ll schedule a time. Let’s discuss about all your Medicare concerns!