Did you know that there are currently 44 million people on Medicare?
With the way that Medicare is currently set up, it’s divided into four different parts. If you’re new to being on Medicare, you may find the current setup to be very confusing.
Today, we break down these four different parts of Medicare to make it easier for you to understand. The entirety of Medicare has different parts, so if you’re interested in learning more, keep reading!
Medicare Part A
The first part of Medicare is referred to as part A. This is your hospital insurance. This section of Medicare will help you to cover any medical expenses that come with hospital treatment.
Common expenses that are covered under Medicare part A include covering the cost of home health care, semi-private room stays, hospice, and stays at skilled nursing facilities. You will also find that this section of Medicare will also cover the cost of blood transfusions that require more than 3 pints of blood.
For the majority of people, Medicare part A is free. The only requirement are you have to meet to receive Medicare part A is that you have worked at least 10 years in the United States. If you have not worked for ten years in the United States, you have to be married to someone who was at least 62 years of age and has worked for those ten years.
Keep in mind that there are many things that aren’t covered with Medicare part A. That’s why you must ensure that you’re covered with at least Medicare part A and Part B.
Medicare Part B
Medicare Part B covers outpatient services for medically significant costs. Some of the costs of what is covered under Part B include Diagnostic Imaging, visits to the doctor’s office, surgeries, lab testing, chemotherapy, ambulance rides, surgeries, radiation, and dialysis care.
The majority of these procedures may take place in the hospital; they may not always require inpatient care and are therefore covered under Part B.
Medicare Part C
Medicare Part C is often commonly referred to as Medicare Advantage.
This is a type of private healthcare plan that you can choose in the replacement of Medicare. With Plan C, you will have access to a network of medical professionals that you will receive your care from.
Medicare Part C offers lower premiums than other types of plans. However, you should be aware that you will have to pay co-pays with Medicare Part C.
Medicare Part D
Medicare Part D covers drug plans. By paying a monthly premium, you’ll receive a discount on the co-pays required for your medications.
Understanding the Different Parts of Medicare
By having a solid understanding of the different parts of Medicare, you can enroll in the parts that best suit your personal needs.
Do you still have questions about the four different parts of Medicare and which ones you should sign up for? Contact us today. Our team of insurance experts are very knowledgeable and will be able to explain the different Medicare parts and what they cover.
