Medicare is made up of 4 parts, A,B,C and D. Each letter designation represents a different area of medical coverage. It all begins with what is known as “Original Medicare,” Hospital Part A and Medical Part B.
Is an admitted hospital stay (Not the Emergency Room). It also covers skilled nursing care following an admitted hospital stay.
Is all coverage outside of an admitted hospital stay. That coverage includes Doctor visits, Tests, Blood work etc.
In addition to Original Medicare(Parts A and B) there is also-
Medicare Advantage Plan– These are Health Insurance Plans provided by private insurance companies to help cover the cost sharing associated with Original Medicare and provide coverage for some items not covered by Original Medicare like Dental and Vision.
Prescription Drug Plan– Original Medicare does not cover prescription medications. Part D plans are provided by private insurers and some Part C Medicare Advantage Plans have Part D Drug plans embedded in them.
When signing up for Medicare you will be enrolling in Medicare Parts A(Hospital Coverage) and B(Medical Coverage).
No, to get Part D you must sign up with a private insurance company or a Medicare Advantage Plan(Part C) that has a Part D embedded in it.
No, for most individuals that worked and paid in for over 10 years Part A will be free but Part B has a base monthly premium(2023) of $164.90 which could be higher depending upon income.
Part C is a Medicare Advantage Plan offered by private companies and supplies coverage for Parts A, B and most include Part D coverage.
If you don’t have creditable(As good or better than Medicare) Drug coverage you will incur a penalty by not having one.