Medicare is more than just a health insurance program—it’s a critical resource for seniors and those with disabilities, offering access to affordable healthcare at a time when it’s often most needed. However, to make the most of your Medicare benefits, it’s essential to understand the different parts of the program and how they work together.

Curious about the different parts of Medicare? In the next slide, we’ll break down the four key components and what each one covers.

Medicare is divided into four main parts, each covering different healthcare services. Some parts may be better suited for different individuals and scenarios.

Understanding how these parts work together can help you decide what coverage best suits your healthcare needs. 

Here’s a breakdown of the four main components:

Medicare Part A – Hospital Insurance

Services covered by Part A include:

• Inpatient hospital care: Covers hospital stays, surgeries, and treatments you receive while admitted.
• Skilled nursing facility care: Helps cover rehabilitation and care after a hospital stay.
• Hospice care: Supports end-of-life care, including pain relief and support services.
• Home health services: Limited home health services are available if you meet certain conditions.

Most people don’t pay a premium for Part A if they’ve worked and paid Medicare taxes for at least ten years. If you or your spouse haven’t met these requirements, you may need to pay a premium to receive Part A benefits.

Medicare Part B – Medical Insurance

Services covered by Part B include:

• Doctor visits: Routine appointments, specialist visits, and preventive services like screenings and vaccines.
• Outpatient services: Services that don’t require an overnight stay, such as lab tests, X-rays, and physical therapy.
• Durable medical equipment: Includes medical devices like walkers, oxygen equipment, and mobility aids.

Part B is optional, but most people choose to enroll in it to ensure coverage for routine doctor visits and other outpatient care. All Medicare Part B recipients pay a monthly premium. 

Medicare Part C – Medicare Advantage Plans

Part C, also known as Medicare Advantage, is an alternative way to receive Medicare benefits through private insurance companies approved by Medicare. These plans must cover all the services included in Parts A and B, but they often offer additional benefits, such as vision, dental, hearing coverage, and prescription drug plans.

Medicare Advantage plans usually operate within a network of healthcare providers, so it’s important to check that your doctors are in-network before choosing a plan. Key features of Medicare Advantage (Part C) include:

• All-in-one coverage: Combines the benefits of Parts A, B, and often D into a single plan.
• Additional benefits: Many plans offer extras like dental, vision, and wellness programs.
• Provider networks: Coverage is typically limited to a network of providers, so check to ensure your preferred doctors and hospitals are included.

Medicare Part D – Prescription Drug Coverage

Part D is designed to help cover the cost of prescription medications. You can enroll in a standalone Part D plan or opt for a Medicare Advantage plan that includes prescription drug coverage. 

Like other parts of Medicare, Part D plans are offered by private insurance companies and vary in cost and coverage.

Part D plans include a formulary or list of covered drugs, so make sure the medications you take are included in your chosen plan. Here’s what you need to know about Part D:

• Prescription drug coverage: Helps pay for both generic and brand-name medications.
• Formulary: Each plan has its own list of covered medications, so it’s important to check that your prescriptions are included.

Varied costs: Premiums, copays, and deductibles can vary widely, so compare plans to find the best fit for your needs.