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Your Medicare Community - MedicareFAQ

Medicare Parts Explained

May 03, 2021 Lindsay
Your Medicare Community - MedicareFAQ
Medicare Parts Explained
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Your Medicare Community - MedicareFAQ
Medicare Parts Explained
May 03, 2021
Lindsay

Medicare comes with many different parts and plans. We're going to break down Medicare Parts A through D in a simple way so that you know which parts to enroll in.

Medicare comes with 4 different parts, Part A, Part B, Part C, and Part D. Part A and B are both run by the Federal Government. Part C and D are offered through private insurance companies. When talking about Medicare plans, you're usually referring to supplemental Medicare options such as Medigap and Medicare Advantage. 

Part A is your hospital coverage for inpatient care. This includes room and board, nursing care received while at the hospital, meals, and diagnostic tests. Part A also covers skilled nursing and hospice. 

Part B is your coverage for outpatient care. This includes services at the doctors and other health care providers. Part B also covers preventive services, home healthcare, and items such as durable medical equipment. Basically, Part A will cover your services received at the hospital. Part B will cover any services received at the doctor's office. Part A and Part B is what makes up Original Medicare.

Now we're going to go over Part C. Also known as Medicare Advantage. Part C or Medicare Advantage is not part of Original Medicare. It's another way to get Part A and Part B coverage. It's Medicare coverage offered through private insurance companies. Since Part A and Part B don't cover 100% of your medical cost, most beneficiaries opt to enroll in additional supplemental coverage to fill in the gaps. This is done through either a Medicare Supplement Plan or Medicare Advantage plan. 

Medicare Advantage plans are a form of managed care. With these plans, you opt to receive your Part A and Part B benefits through the carrier's network of providers instead of Original Medicare. To be eligible for Part C, you still must enroll in both Part A and Part B, as well as live in the plans service area. It's important to remember, Part C is optional. Not every Medicare beneficiary will choose to enroll in a Part C plan.

Last but not least, is Part D. Part D is your prescription drug coverage. Part D plans are also offered through private insurance companies. It covers the prescriptions you pick up at your local pharmacy. Part D is also optional. However, if you don't have another form of prescription coverage that's considered creditable under Medicare, you could face enrollment penalties if you choose to enroll later. Part D plans do change annually. That's why it's important to compare all the options in your area each year during the fall Annual Enrollment Period.

Resource Links:
https://www.medicarefaq.com/original-medicare/medicare-parts/
https://www.medicarefaq.com/original-medicare/medicare-parts/medicare-part-a/
https://www.medicarefaq.com/original-medicare/medicare-parts/medicare-part-b/
https://www.medicarefaq.com/original-medicare/medicare-parts/medicare-part-c/
https://www.medicarefaq.com/original-medicare/medicare-parts/medicare-part-d/

Like what you see? Join our Facebook group! It's a group dedicated to helping people become educated on Medicare. Whether you're a current Medicare beneficiary, taking care of a loved one on Medicare, or will be aging into Medicare shortly, this is your Medicare resource center.

https://www.facebook.com/groups/MedicareFAQ/

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Show Notes Transcript

Medicare comes with many different parts and plans. We're going to break down Medicare Parts A through D in a simple way so that you know which parts to enroll in.

Medicare comes with 4 different parts, Part A, Part B, Part C, and Part D. Part A and B are both run by the Federal Government. Part C and D are offered through private insurance companies. When talking about Medicare plans, you're usually referring to supplemental Medicare options such as Medigap and Medicare Advantage. 

Part A is your hospital coverage for inpatient care. This includes room and board, nursing care received while at the hospital, meals, and diagnostic tests. Part A also covers skilled nursing and hospice. 

Part B is your coverage for outpatient care. This includes services at the doctors and other health care providers. Part B also covers preventive services, home healthcare, and items such as durable medical equipment. Basically, Part A will cover your services received at the hospital. Part B will cover any services received at the doctor's office. Part A and Part B is what makes up Original Medicare.

Now we're going to go over Part C. Also known as Medicare Advantage. Part C or Medicare Advantage is not part of Original Medicare. It's another way to get Part A and Part B coverage. It's Medicare coverage offered through private insurance companies. Since Part A and Part B don't cover 100% of your medical cost, most beneficiaries opt to enroll in additional supplemental coverage to fill in the gaps. This is done through either a Medicare Supplement Plan or Medicare Advantage plan. 

Medicare Advantage plans are a form of managed care. With these plans, you opt to receive your Part A and Part B benefits through the carrier's network of providers instead of Original Medicare. To be eligible for Part C, you still must enroll in both Part A and Part B, as well as live in the plans service area. It's important to remember, Part C is optional. Not every Medicare beneficiary will choose to enroll in a Part C plan.

Last but not least, is Part D. Part D is your prescription drug coverage. Part D plans are also offered through private insurance companies. It covers the prescriptions you pick up at your local pharmacy. Part D is also optional. However, if you don't have another form of prescription coverage that's considered creditable under Medicare, you could face enrollment penalties if you choose to enroll later. Part D plans do change annually. That's why it's important to compare all the options in your area each year during the fall Annual Enrollment Period.

Resource Links:
https://www.medicarefaq.com/original-medicare/medicare-parts/
https://www.medicarefaq.com/original-medicare/medicare-parts/medicare-part-a/
https://www.medicarefaq.com/original-medicare/medicare-parts/medicare-part-b/
https://www.medicarefaq.com/original-medicare/medicare-parts/medicare-part-c/
https://www.medicarefaq.com/original-medicare/medicare-parts/medicare-part-d/

Like what you see? Join our Facebook group! It's a group dedicated to helping people become educated on Medicare. Whether you're a current Medicare beneficiary, taking care of a loved one on Medicare, or will be aging into Medicare shortly, this is your Medicare resource center.

https://www.facebook.com/groups/MedicareFAQ/

Medicare comes with many different parts and plans. In today's video, we're going to break down Medicare Parts A through D in a simple way so that you know which parts to enroll in. Hi, Medicare Community. My name is Lindsey Engle, Im the Medicare expert for Elite Insurance Partners and MedicareFAQ.com. Medicare comes with 4 different parts, Part A, Part B, Part C, and Part D. Part A and B are both run by the Federal Government. Part C and D are offered through private insurance companies. When talking about Medicare plans, you're usually referring to supplemental Medicare options such as Medigap and Medicare Advantage. Part A is your hospital coverage for inpatient care. This includes room and board, nursing care received while at the hospital, meals, and diagnostic tests. Part A also covers skilled nursing and hospice. Part B is your coverage for outpatient care. This includes services at the doctors and other health care providers. Part B also covers preventive services, home healthcare, and items such as durable medical equipment. Basically, Part A will cover your services received at the hospital. Part B we will cover any services received at the doctor's office. Part A and Part B is what makes up Original Medicare. Now we're going to go over Part C. Also known as Medicare Advantage. Part C or Medicare Advantage is not part of Original Medicare. It's another way to get Part A and Part B coverage. It's Medicare coverage offered through private insurance companies. Since Part A and Part B don't cover 100% of your medical cost, most beneficiaries opt to enroll in additional supplemental coverage to fill in the gaps. This is done through either a Medicare Supplement Plan or Medicare Advantage plan. Medicare Advantage plans are a form of managed care. With these plans, you opt to receive your Part A and Part B benefits through the carrier's network of providers instead of Original Medicare. To be eligible for Part C, you still must enroll in both Part A and Part B, as well as live in the plans service area. It's important to remember, Part C is optional. Not every Medicare beneficiary will choose to enroll in a Part C plan. Now, this video is specific to Medicare parts, so I won't go to into detail on Medicare Advantage, but we do have many different videos on our YouTube channel that you can check out. Last but not least, is Part D. Part D is your prescription drug coverage. Part D plans are also offered through private insurance companies. It covers the prescriptions you pick up at your local pharmacy. Part D is also optional. However if you don't have another form of prescription coverage that's considered creditable under Medicare, you could face enrollment penalties if you choose to enroll later. Part D plans do change annually. That's why it's important to compare all the options in your area each year during the fall Annual Enrollment Period. Thank you so much for watching. I hope you found this video helpful. If you did, don't forget to subscribe to our YouTube channel. Make sure notifications are turned on so you're notified each time we upload a new video. We also have a fantastic community on Facebook. We'll make sure to include a link below so you can join. Until next time. Bye.