The Medicare Plan - A - B - C - D

As I approach retirement, I have become curious as to what is the Medicare plan. Also, as my parents age, they have made more extensive use of the health care system. It was important for me to understand Medicare and their health insurance coverage.

You can find information on the government website, but before you do, read this article to get an overview and possibly find some links to private resources.

Medicare is a health insurance plan available to those people who are 65 years of age or older. You do not have to be 65 to receive Medicare plan benefits. If you receive Social Security Disability, or have End Stage Renal Failure, you also qualify for Medicare, regardless of age.

The Medicare program is divided into four parts - Medicare Part A, Part B, Part C and Part D.The rest of this hub is an overview of these four parts.

When you become ill, you may end up in the hospital. This is where Medicare Part A helps you. It is hospital insurance, which means it covers inpatient care. Inpatient care not only includes hospitals, but other types of facilities as well. Examples of inpatient facilities include acute care hospitals, skilled nursing facilities and hospice facilities. Plan A also includes some home health care services.

If you are eligible for Medicare, you automatically receive part A and no premium is required. Part A covers the costs of inpatient care, but it does not cover long term care and custodial care. Medical services, such as a visit by your doctor while you are in the hospital, are also not covered. So, your hospital room is covered by plan A, but your doctor's visits are not. Doctor's visits are covered by medical insurance, which is part B.

The purpose of Medicare part B is to cover medically necessary services. Medically necessary services are: doctors’ services including some preventive screenings, outpatient care, diagnostic tests, and physical therapy. Part A does not cover these services, even if you are in the hospital.

You need to choose to have Medicare Part B, you are not automatically enrolled. You will also have to pay a premium. Together Part A and Part B are referred to as the original Medicare plan.

If you choose only to be covered by Part A, none of your medical bills will be covered, this includes outpatient surgery. So to be more adequately protected, you need to sign up for Part B also.

Having Part A and Part B coverage will go a long way to covering your health care expenses, but there are still gaps in the coverage. Private insurance carriers provide coverage to fill these gaps. This type of insurance is known as Medicare supplemental insurance, which is also referred to as MediGap insurance.

Medigap insurance is not the only way to get additional coverage. You can enroll in Medicare Part C instead.

A Medicare Part C plan is a way to get additional coverage beyond the original Medicare plan. Part C is also known as Medicare Advantage. Medicare Advantage is an inclusive package the covers everything in Part A and B and generally includes additional coverages. The types and amounts of coverage are dependent upon the plan sold by the private insurer.

If you choose part C, you will be receiving your Medicare benefits from the private insurance company and not the government. You will be paying a premium. This premium includes the Part B premium, and any additional premium required for extended coverage. Also, Medicare Part C may include prescription drug coverage.

If your part C plan not include prescription drug coverage, you may want to enroll in a Part D plan.

Prescription drug coverage is covered under Medicare Part D. It is only available through private companies. These companies must be approved and certified by the Centers for Medicare and Medicaid Services.

Medicare Part D is optional coverage. You will pay a premium directly to the private insurance company. Also there are many hidden costs in Part D coverage. These hidden costs are too extensive to cover in detail here.

Also, you should note that some Part C plans include prescription drug coverage, so Part D is not necessary in these cases, and there may be penalties if you enroll.

This article has touched briefly on Medicare. You have found out that Medicare consists or Parts A, B, C and D.

Medicare Part A and Part B can be viewed as the original Medicare. You will need both parts to have minimal coverage. You can also extend your coverage with a Medicare Supplemental Insurance plan. Optionally, you could choose to replace and extend your coverage with a Medicare Advantage plan which is Medicare Plan C. If you need prescription drug coverage, your choices are either Plan C or Plan D. Plan D is specifically for prescription drugs.

This article has highlighted the different parts of Medicare. You can find more in depth information by clicking this Medicare Plan link. At this link you will find more detailed information about the various parts of the Medicare plan, along with advertiser links, and links to government information.