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Most people consider Part A as their hospital insurance coverage, however it provides more coverage than just hospitalization care. What else does Medicare Part A also cover?
Medicare Part B is considered by most as your Doctors office visit coverage. But it's riches benefit happens when you have an outpatient surgery needs. What else does Medicare Part B cover?
Medicare Part C plans is also provided by private health insurance companies. How is it different than regular Medicare Coverage? What does Medicare Part C cover?
Medicare Part D is a voluntary program but without it you will be responsible to pay for 100% of the total cost of your prescription medications that you need down the road. Do I need Part D? And how much does it cost?
Medigap plans are purchased separately in order to fill in the gaps of Original Medicare as these policies help pay for your share of Medicare expenses, such as deductibles and co-insurance. How does it work?
Medicare Part A is under Original Medicare , part of federal health insurance program that covers:
As you can see this is much more than just Hospital coverage. For most Americans this coverage Part will come to you at no additional cost as you have already paid for this coverage through your payroll taxes. If you did not work a total of 40 quarters or 10 years you can incur a separate monthly cost. You can log into your Social Security portal to confirm you have all 40 quarters.
Part B coverage has different coverage options included. Part B can help cover the following:
Medicare Part C, also known as Medicare Advantage, is a type of Medicare health plan offered by private insurance companies that contract with Medicare. Medicare Advantage plans provide all the benefits covered under Original Medicare (Part A and Part B) and and often include prescription drug coverage. Medicare Advantage plans may have lower out-of-pocket costs than Original Medicare, but they also have more limited provider networks and require you to get prior authorization for certain procedures.
Medicare Part D is the prescription drug coverage component of Medicare. It is offered by private insurance companies that contract with Medicare, and it helps cover the cost of prescription drugs for Medicare beneficiaries. Participation in a Part D plan is voluntary, but beneficiaries who do not enroll in a plan when they are first eligible may face a penalty if they choose to enroll later. Enrollees typically pay a monthly premium for a Part D plan, and they may also be responsible for deductibles and copayments. The cost and coverage of Part D plans can vary depending on the specific plan and the drugs it covers, so it's important to compare plans and choose one that best meets your needs.
Medicare Supplement, also known as Medigap, is a type of insurance policy that helps cover some of the costs not covered by Original Medicare (Part A and Part B). These costs include copayments, coinsurance, and deductibles. Medigap policies are sold by private insurance companies, and they can help pay for some or all of the costs not covered by Original Medicare. Medigap policies are standardized, meaning that each plan must provide the same basic benefits, regardless of which insurance company sells it. There are 10 standardized Medigap plans, labeled A, B, C, D, F, G, K, L, M, and N. Each plan has a different set of benefits.
If you are seeking a plan option that provides you with open access to medical Doctor, outpatient facilities, top cancer centers, and hospitals with little to no copays, deductibles, and co-insurance this is our top recommendation.
** Benefits information from Medicare.gov
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