Medicare Parts A, B, C and D
Here is information about the various parts of Medicare:
Medicare Part A covers all treatments in hospitals. It has an annual deductible. The annual deductible changes yearly. There is no cost for Part A coverage for people who worked at least 10 years and paid FICA taxes during that period. If not, you may be able to purchase Part A.
Medicare Part B pays for physicians, outpatient hospital care, some home health services and durable medical equipment like walkers. There is a monthly cost or “premium” for Medicare Part B. Most people pay the standard Part B premium, but those with a higher adjusted gross income may pay more. Additionally, Part B has a deductible and generally only covers 80% of costs.
Medicare Part D plans (also called Medicare Prescription Drug Plans) help cover costs for prescription medications (Rx). They have monthly premiums and most have deductibles. The plans vary greatly in formularies so people need to consider what prescriptions they take in choosing one.
What about Medicare Part C? Part C offers an alternative, combining Part A + Part B + Part D in one plan. Medicare Part C refers to “Medicare Advantage” plans. Medicare Advantage plans usually combine coverage for in-hospital care, doctor and specialist visits, and prescriptions into one plan. Most of these plans are HMOs, with a primary care doctor coordinating your medical care, but there are PPO plans available in some areas. They are more affordable than other options, but you must receive care from the doctors and hospitals.
What about F, G, N and other Medicare Supplemental Plans?