Know the A, B, Cs and D’s of Medicare

William Slyter

50plus Magazine

 

When first dipping your toes into the deep pool that is Medicare, one of the first things to understand is the different parts, how they’re similar and different, and how they work together. To help make sense of it all, let’s take a look at Medicare Parts A, B, C, and D, plus Medigap.

 

The A, B, Cs & Ds

 

Part A  (HOSPITAL Insurance)

Covers inpatient care in a hospital, skilled nursing facility, and hospice, as well as some home health care services.

 

Part B  (MEDICAL Insurance)

Covers services from doctors and other healthcare providers, outpatient care, and home health care. It also includes many preventive services such as screenings, vaccines, and wellness visits. Part B also covers durable medical equipment (DME) such as wheelchairs, walkers, hospital beds, and other assistive items.

 

Part C  (Medicare ADVANTAGE)

An alternative to Original Medicare, Medicare Advantage plans are offered by private companies approved by Medicare. These plans bundle Parts A, B, and often D (prescription drug coverage). Medicare Advantage plans typically require you to use doctors within their network, but often have lower out-of-pocket costs compared to Original Medicare. These plans may also offer extra benefits like vision, hearing, and dental services, which are not covered by Original Medicare.

 

Part D  (Prescription Drug COVERAGE)

Helps cover the cost of prescription medications, including many recommended vaccines. You can join a standalone Medicare drug plan with Original Medicare or opt for a Medicare Advantage plan that includes drug coverage. These plans are run by private insurance companies that follow rules set by Medicare.

 

Mind the Gap

Medigap (Medicare Supplemental Insurance) is offered by private companies and helps cover some out-of-pocket costs not covered by Original Medicare. In Oregon, there are 10 different Medigap plans, labeled A-D, F, G, and K-N. Every Medigap policy is standardized, meaning that any plan with the same letter offers identical basic benefits, no matter which insurance company you choose or where you live. The only real difference between plans with the same letter(s) from different insurers is the price. Every Medigap policy is required to comply with federal and state laws in place to safeguard consumers.

 

In addition to Medigap, some individuals may have additional coverage through a former employer, a union, or Medicaid.

 

You Needn’t Go it ALONE

Compassionate and knowledgeable agents are available throughout your community to help you navigate Medicare. Many can be found within these pages, and their expert assistance is completely free.