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Medicare Explained

How does Medicare work?

There are four parts to Medicare

Part A (Hospital Insurance). Part A covers inpatient hospital stays, care in a skilled nursing facility, hospice care, and some home health care.

Part B (Medical Insurance). Part B covers certain doctors’ services, outpatient care, medical supplies, and preventive services. Part C Otherwise known as Medicare Advantage is another way to get coverage It combines part A, Part B and sometimes Part D. It is managed by Private companies approved by Medicare. These plans must cover Medically necessary services.

Part C plans could be a cost effective option for you as many of them have low premiums some even $0. Part C plans Often offer additional benefits such as vision, dental, hearing, which original Medicare does not cover. However, all plans can charge different copays coinsurance and deductible so it is best that you speak with someone that is knowledgeable about all the different plans that are offered in your Area.

Part D offers prescription drug coverage. This coverage could save you money on your medicines and prevent higher cost in the future.

Another option is choosing a Medigap supplement plan. Medicare Supplement insurance plans work with Original Medicare, Part A and Part B, and may help pay for certain costs that Original Medicare doesn’t cover. These plans don’t provide stand-alone coverage; you need to remain enrolled in Part A and Part B for your hospital and medical coverage. If you need prescription drug coverage, you’d need to enroll in a stand-alone Medicare Prescription Drug Plan. When you buy a Medicare Supplement insurance plan, you are still enrolled in Original Medicare, Part A and Part B.