Medicare is important for people 65 years or older. In this system, there are four parts to the Medicare benefits.
Let’s begin with Part A - Hospital Coverage. Part A provides coverage for inpatient hospital care, inpatient stays in nursing facilities, and hospice services. Relying solely on Medicare Part A is risky since it doesn’t give you complete health care coverage, so you should also enroll in Medicare Part B to cover regular visits and other needs outside of in-patient care.
Medicare Part B – Medical Coverage has a monthly premium for most beneficiaries and provides benefits and coverage for doctor services, preventive care, home health care, surgical fees, physical therapy and most of your regular health care needs. You are eligible for Medicare when you reach the age of 65, but it is also available for anyone under the age of 65 with a disability, or anyone who has ALS (Amyotrophic Lateral Sclerosis).
Medicare Part C (Medicare Advantage) is government subsidized and combines both Medicare Parts A and B along with Part D. This means if you enroll in a Part C, you will receive hospital insurance, medical insurance and prescription drug coverage in one plan. In addition to receiving all your medical benefits, the Part C plan may include coverage for vision, hearing, dental, and other wellness programs.
Lastly, as mentioned above, Medicare Part D - Prescription Drug can be combined with Part C, a Medicare Advantage plan or can be offered as a stand-alone Part D plan. Part D plans help cover the cost of your needed prescription drugs and can help lower your cost and protect you against higher costs for your medications throughout the year.
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