What is Medicare insurance? A short and simple guide to understanding Medicare insurance, parts A, B, C, and D included.
Medicare insurance comes in four parts: part A, part B, part C, and part D. All four parts have their own unique characteristics and cover different types of medical bills. Part A is the most common plan and is free for most seniors.
Part A of the Medicare program covers basic inpatient hospital care and some general health care as well. This part of the Medicare plan is the most basic part and is free to almost everyone over the age of 64. The only problem with part A of the Medicare plan is that it does not cover outpatient hospital care, which can be a big issue for some seniors.
Part B of the Medicare program covers post-hospital care, such as physical therapy. Most people under this program are required to pay a monthly premium, and most choose to do so. This is the main part of the plan for covering outpatient hospital care.
Part C of the Medicare program is where the government allows HMOs and PPOs to offer health insurance through Medicare. These plans must provide the Original Medicare benefits under Part A and Part B. They are also allowed to offer additional benefits if they choose to do so; but they have the right to limit which doctors and hospitals a patient may visit.
Part D of the Medicare program helps pay for prescription drugs. This part of the plan also requires that beneficiaries pay a premium. Part D is run through private insurance companies.
Medicare Insurance is available to Americans past the age of 64. Eligibility also extends to people below the age of 65, provided they have disabilities or end stage renal disease.