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.
Hospital Part A-
Is an admitted hospital stay (Not the Emergency Room). It also covers skilled nursing care following an admitted hospital stay.
Medical Part B–
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 Part C–
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.
Medicare Part D–
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.
Does Part D Automatically Come With Parts A and B?
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.
Is Medicare Free?
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(2024) of $174.70 which could be higher depending upon income.
What is included with Part C?
Part C is a Medicare Advantage Plan offered by private companies and supplies coverage for Parts A, B and most include Part D coverage.
What If I Just Sign Up For Parts A and B But Not Part D?
If you don’t have creditable(As good or better than Medicare) Drug coverage you will incur a penalty by not having one.