WHAT’S THE DIFFERENCE BETWEEN PART A, B, C, AND D?
October 5, 2017
The world of health insurance can be very complicated, and government-provided health care options such as Medicare can be even more confusing. Today we’ll discuss what benefits Medicare part A, B, C, and D provide and the biggest differences between the four.
Medicare Part A – Cover Hospital Visits.
Part A will cover most medically necessary visits to the hospital or a skilled nursing facility, along with coverage for home health and hospice care. If you have paid Social Security taxes for the last ten years, you have earned this coverage, and it comes at no cost to you! If you haven’t worked and paid taxes for the entire ten years, you will have to pay some monthly premium for this plan.
Medicare Part B – Covers Medical Expenses.
This plan will provide coverage for many necessary doctor’s services, preventive care, hospital outpatient services, lab work, x-rays, and more. This program is not free, and you will have to pay a monthly premium for continued coverage.
Medicare Part C – A Private Insurance Option.
Part C is different than both Parts A and B (Original Medicare) in that it’s a private insurance option. They are often referred to as Medicare Advantage plans and must be purchased through a private insurer. By law, these Part C options must provide the same coverage as Original Medicare. They will alsousually cover other things such as vision and dental services along with prescription drugs in some cases. Keep in mind that you must first enroll in Original Medicare before upgrading to Medicare Advantage plans.
Medicare Part D – Covers Your Prescriptions.
Part D provides coverage for your prescription drugs and is sold exclusively through private insurers contracted by the government. When enrolled in a Part D plan, you will pay monthly premiums along with a deductible in some cases.