What Are The Different Parts Of Medicare?

What Are The Different Parts Of Medicare?

Medicare is made up of four parts:

Part A: Hospital Insurance

Part B: Medical Insurance

Part C: Medicare Advantage

Part D: Prescription Drug Coverage

Part A, sometimes called “Hospital Insurance,” pays for inpatient hospital services, skilled nursing facility services, hospice care, home health care, and some home health visits if they're medically necessary.

Part B, sometimes called “Medical Insurance,” pays for many of your doctor's services and outpatient care that are not paid for by Part A (such as lab tests, x-rays, and care from your doctor).

Part C, sometimes called “Medicare Advantage,” gives you all the coverage of Part A and Part B (and more), and you get to choose a Medicare Advantage plan from a list of private insurance companies.

Part D covers prescription drugs. It's the only part of Medicare that you pay for, and it's optional. The standard premium is $134 a month in 2016. However, if you or your spouse is still working, you may be able to continue getting prescription drug coverage through your employer.

What is a Medicare Advantage plan?

A Medicare Advantage plan (sometimes called “Part C” or “MA”) gives you all the coverage of Medicare Parts A and B, plus other benefits that insurance companies offer.

Depending on the plan, you may pay a monthly premium and a deductible, and you might have to pay for some services that are covered under traditional Medicare.

How does Medicare Advantage work?

It works just like Part B. You get to choose from a list of plans, and the Part B premium is taken care of for you.

Some Medicare Advantage plans include prescription drug coverage, which will supplement the coverage you get from Part D. But most Medicare Advantage plans do not have prescription drug coverage.

What are the costs of Medicare Advantage?

The monthly Medicare Advantage premium is $109 a month in 2016 for most Part C plans.

Of course, when you sign up for a Medicare Advantage plan, you pay the premium for the year. Part D premiums vary depending on the plan you choose.

Is Medicare Advantage worth the cost?

That depends. If you're happy with the Medicare Part D plan you have, you might not benefit much from a Medicare Advantage plan. If you have to pay for extra services under traditional Medicare, you might find that the value of the extra benefits in a Medicare Advantage plan is worth the extra cost.

What is a Medicare Supplement plan?

A Medicare Supplement plan (also called “Part D” or “Medigap”) is a policy that you can buy to supplement Medicare.

You can buy a Medicare Supplement plan to cover what Part D doesn't cover, such as copayments, coinsurance, and deductibles. There's a limit to how much a Medicare Supplement policy will pay, so you might still have to pay some out-of-pocket costs.

How does Medicare Supplement work?

Some Medicare Supplement plans include prescription drug coverage, which will supplement the coverage you get from Part D. But most Medicare Supplement plans do not have prescription drug coverage.

What are the costs of Medicare Supplement?

The monthly Medicare Supplement premium is $134 a month in 2016.

Of course, when you sign up for a Medicare Supplement plan, you pay the premium for the year. Part D premiums vary depending on the plan you choose.

Is a Medicare Supplement worthwhile?

That depends. If you're happy with the Medicare Part D plan you have, you might not benefit much from a Medicare Supplement plan. If you have to pay for extra services under traditional Medicare, you might find that the value of the extra benefits in a Medicare Supplement plan is worth the extra cost.

What if I need help choosing a plan?

Ask for help with “plans available.”

You can call Social Security at 1-877-690-1012 (TTY 1-877-690-1012) Monday through Friday from 7:00 a.m. to 7:00 p.m. local time. You can also visit your local Social Security office.

What if I have a question about my Medicare Advantage or Medicare Supplement plan?

Call the number on your insurance card or go to the website.

You may also be able to ask your doctor for help finding the information you need.

What if I need help getting or using my prescription drugs?

Your doctor will be able to help you find a pharmacy that works for you.

Call Social Security at 1-877-690-1012 (TTY 1-877-690-1012) Monday through Friday from 7:00 a.m. to 7:00 p.m. local time. You can also visit your local Social Security office.

What if I have a problem or question?

Social Security has offices all over the country.

Start by visiting the Social Security website at www.socialsecurity.gov.

You can also call Social Security at 1-877-690-1012 (TTY 1-877-690-1012) Monday through Friday from 7:00 a.m. to 7:00 p.m. local time. You can also visit your local Social Security office.

What if I'm worried about Social Security?

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