It’s important to know what is covered and isn’t when it comes to healthcare because there are a lot of different plans for Medicare. It can be very confusing to know which plan will give you the right coverage. Luckily, there are some tools available which can make it easy for you to choose.
What is Medicare?
Medicare is the insurance plan offered by the federal government for people who are 65 and above, people with disabilities, and those with permanent kidney failure. The four parts of Medicare are- A, B, C, and D. Each of the parts covers different aspects of healthcare. You can purchase one or more parts of Medicare. The most commonly selected ones are Parts A and B because they cover the majority of services. Usually people have to pay a premium monthly, but this varies based on income.
Part A: It is also known as “Original Medicare”. It covers charges for hospital stays and services, skilled nursing facilities, wheelchairs and walkers, and hospice care. It also covers home healthcare services if you are unable to go to a hospital.Additionally, it also covers blood transfusion, in case you ever need it.
Part B: It is also a part of the “Original Medicare”. It pays for your visits to your doctor and preventive healthcare, like yearly doctor visits and tests. Most people have Parts A and B of Medicare together to get the maximum coverage. For example, staying at a hospital would be covered under Medicare Part A but the doctor’s services would be covered by Part B.
Part C: It is also known as “Medicare Advantage” plan. It is a supplemental plan that provides more coverage for extra charges. These are private insurance plans which are approved by Medicare that fills the gaps in services and hospital care. People who have enrolled for Medicare Part C are already enrolled with Parts A and B. These plans help you to get prescription drug coverage, dental and vision coverage, and various other benefits.
Part D: Medicare Part D is nothing but a plan which covers some prescription drugs that are not listed under the Part B. These types of medications need to be administered by a doctor such as an infusion or an injection. This plan is totally optional, yet many people choose to enroll in it so that almost all of their medications are covered.