The ABC&D of Medicare
Most Americans will qualify for Medicare when they turn age 65. Parts A&B are provided by the US Federal Government. Parts C&D are private health plans offered by insurance companies. Below is a short description of each. For a more detailed explanation, click here to download the Medicare and you book.
| Part | What it Covers | Notes |
|---|---|---|
| A | Hospitals Nursing Facility Hospice Home Health | If you or your spouse paid into Medicare for at least 10 Years, Part A is provided at no cost to you. Part A has an annual deductible for each service and days of use. |
| B | Doctors Outpatient Medical Equipment | Part B has a Monthly Premium. Most Americans will pay $170.10 per month for Part B in 2022. High income members may pay more. Part B requires that you pay a $233 annual deductible and 20% for services. |
| C | Combines A,B & D into one easy to use plan. | Also know as a Medicare Advantage Plan (MA). Medicare Advantage plans can include Part D (MAPD). MA and MAPD plans Cost as little as $0/month. Many include Dental, Vision, and Hearing benefits. |
| D | Prescription Drugs | Part D Plans cover your prescription costs with an additional monthly premium. Most have copays and deductibles. |
In addition to the 4 parts above Private insurance companies offer Supplement Plans (Medi-Gap). Supplements are regulated by the Center for Medicare & Medicaid Services and are the same coverage across all private insurance companies. Supplements are know by a letter like F,N,G. The purpose of a supplement is to pay for expenses that Part A and B do not pay for.
When you enroll in medicare you will have the ability to purchase a Medicare Advantage plan or a supplement with Part D.
