There are two main parts of Original Medicare; Part A and Part B. Part C Advantage and Part D prescription drug plans are both additional coverage options. In the content below, we’ll discuss all four parts of Medicare. Then, you can decide on the options that work best for you. First, let’s discuss the basics of each part. Then, we can discuss each benefit in further detail.
What are the Different Parts of Medicare?
Part A covers inpatient services and Part B is outpatient benefits. Part D covers prescriptions. Then, Part C is a combination of Part A, B, and sometimes D. If Part C doesn’t meet your needs, you have the option to choose Medigap instead.
Part A covers your inpatient services while visiting the emergency room. For example, if you need hospice care or skilled nursing after a hospital stay, Part A covers 80% after the deductible. The deductible applies each benefit period; so, you could pay this multiple times in the year. Most people get Part A premium-free; but, if you didn’t pay enough into Medicare taxes, you might have a premium.
Part B covers your outpatient services while at the doctors. It covers 80% of the service after the deductible. Those that delay enrolling risk paying a penalty that will stick with them forever.
Part C is required to offer the same benefits as Part A & Part B. To enroll in Part C, you must have BOTH Part A and Part B. Many Advantage plans include Part D and other extra benefits. These plans vary by county.
Part D covers your prescription medications. It’s a smart decision to enroll in Part D, even if you don’t have a reoccurring prescription. Delaying enrollment in Part D can result in penalties. You must have either Part A or Part B to enroll. Most plans include a deductible. If you have expensive medications, you’ll likely reach the donut hole.
Medicare Parts FAQ’s
Find the Best Medicare Part for You
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