The Parts of Medicare

Learn More About Medicare Parts A & B

The Parts of Medicare

The parts of Medicare FME

Medicare is a federal health insurance program for individuals who are 65 years or older or have certain disabilities. Medicare has four parts: Medicare Parts A, B, C, and Medicare Part D or Medicare Drug plan. Parts A and B are known as Original Medicare, while Parts C and Part D are considered a Medicare Supplement plan coverage options that beneficiaries can choose to enroll in that helps pay for preventive care, dental care, extra benefits, and more.

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The Parts of Medicare

Medicare Part A covers inpatient hospital care, skilled nursing facilities, hospice care, and some home health care services. Medicare Part B covers outpatient care, preventive services, and medical equipment. Together, Parts A and B provide coverage for a range of healthcare services. However, there are gaps in coverage, such as prescription drug coverage, which is not covered by Parts A and B.

Medicare Part D or Medicare Drug Plan is a prescription drug coverage plan that helps beneficiaries covers prescription drugs. This Medicare Supplement plans is offered by private insurance companies that are approved by Medicare. Beneficiaries can enroll in a Part D plan as a standalone plan or as part of a Medicare Advantage plan. Part D prescription drugs plans have a formulary, which is a list of covered drug coverage. The cost of the plan and the drugs covered can vary depending on the plan.

Medicare Part C

Medicare Advantage plans, also known as Medicare Part C plans, are an alternative to Original Medicare. These plans are offered by private insurance companies and provide all the benefits of Parts A and B, and often include additional benefits, such as prescription drug coverage, dental, and vision. However, beneficiaries may face out-of-pocket costs, such as deductibles, copayments, and coinsurance.

Overall, Medicare Parts A and B provide essential healthcare coverage, while Part D offers prescription drug coverage. Beneficiaries can choose to enroll in a Part D plan or a Medicare Advantage plan to supplement their coverage and help reduce out-of-pocket costs. It is important for beneficiaries to review their coverage options annually during the Medicare Annual Enrollment Period to ensure that they have the coverage that meets their healthcare needs.

Original Medicare (Parts A and B)

Original Medicare covers a lot of extra benefits! Let’s discuss the Parts of Medicare, Original Medicare, Medicare Advantage Plans, Medicare Part D, the health care costs, services covered, and more!

Parts of Medicare, Medicare Part A:

  • Covers hospital stays or hospital insurance

  • Inpatient Hospital Insurance or Care

  • Skilled Nursing Care or Skilled Nursing Facility Care

    • Medicare covers your room, board, and certain services provided in a skilled nursing facility care

  • Hospice Care

    • Hospice Care Medical Insurance is covered for as long as your provider certifies it is necessary.

Parts of Medicare, Medicare Part B:

  • Covers doctor visits and outpatient doctor visits.

What is the Cost For Original Medicare Medical Coverage?

Most of the time, Original Medicare Part A has NO cost. Certain taxes you paid during your working years are specifically for Medicare coverage.

Good to Know

As long as you worked for at least 10 years in your lifetime in the United States, most of the time you won’t pay a dime. If you have not, you can still purchase Original Medicare Part A if you have been a legal resident or have had a green card for at least five years.

Medicare Part B

Covers all of the original medical insurance stuff filling in the gap on services between hospital room and board and prescriptions. Original Medicare Part B has a calendar year deductible of $203 ONE TIME for the calendar year. This is the amount you will pay 100% before Part B starts picking up anything. After the deductible is met, Part B turns into 80/20 coverage with NO CAP.

The standard Original Medicare Part B premium in 2021 is $148.50 monthly. If your modified Adjusted Gross Income is above a certain amount, you may pay an Income Related Monthly Adjustment Amount (IRMAA). Original Medicare uses the MAGI reported on your IRS tax return from 2 years ago.

Worried about the cost of the 20% coverage? Don’t be! It’s our pleasure to make sure we find you that specific plan that covers the remaining 20% at little to zero cost to you!

What Are The Benefits To Original Medicare?

It may seem strange to automatically get enrolled in a healthcare plan without asking for it, but it can be a positive in many ways. By working with Florida Medicare Expert, we will make sure you don’t have to miss your window to gain access. We will review your current health insurance and revise the coverage to be more in sync with your current specific healthcare needs.

Medicare Advantage Plan

Medicare Advantage plans, also known as Part C plans, are an alternative to Original Medicare. Also known as a Medicare Supplement plans, Medicare Advantage plans are offered by private insurance companies and provide all the benefits of Parts A and B, and often include additional benefits, such as drug coverage, dental, and vision. Medicare Advantage plans have a network of providers and may require beneficiaries to receive care from providers within the network. Medicare Advantage Beneficiaries may also face out-of-pocket costs, such as deductibles, copayments, and coinsurance. Medicare Advantage plans may have different costs and benefits than Original Medicare, so it’s important for beneficiaries to carefully review plan options and compare costs and benefits to determine the best fit for their healthcare needs.

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