How does Medicare work?

How does Medicare work?

Medicare is made up of several parts, including Medicare Parts A and B, Medicare Part C, Medicare Part D, and Medigap. The coverage you choose will depend on your specific situation.

Medicare Parts A and B

When they become eligible, most U.S. citizens are automatically enrolled in Medicare Part A, Medicare Part B, or both Medicare Parts A and B, which also known as
"Original Medicare". Medicare Part A is hospital insurance while Medicare Part B is medical insurance. 

If you are not automatically enrolled, you may need to manually enroll in the program. You can change your Medicare package to suit your lifestyle and alter your coverage. 

Aside from Original Medicare, there are additional Medicare plans you can choose from. 

Medicare Part C

Medicare Part C, or Medicare Advantage, allows one to receive their Original Medicare coverage through a private insurance company that has been approved by Medicare. This is an alternative to receiving your Medicare directly through the government. Medicare Part C offers all of your Part A and Part B benefits except for hospice care. However, Medicare Part C also includes benefits not offered by Part A or Part B. This may include extra prescription drug coverage and routine dental and vision care. Medicare Part C allows you to get all of your Medicare benefits from a single plan, which simplifies your coverage. Those who go down this route will still need to pay the monthly Medicare Part B premium.

Medicare Part D

If you choose to continue using your Original Medicare, note that prescription drugs are not typically covered. To help cover prescriptions, you can add Medicare Part D to your plan, which allows for prescription drug coverage through a private insurance provider that has been approved by Medicare. 

Medigap (Medicare Supplement)

If you opt for Original Medicare, you can also sign up for Medigap (Medicare Supplement) to help you pay for any out-of-pocket costs that arise with your Original Medicare plan. There are different Medigap plans that cover different amounts of co-payments, co-insurance, and deductibles.

The availability and costs of the Medicare plans will vary depending on location and insurance company. 

For help finding a Medicare plan, try our Medicare Cost Revealer. If you have any questions, please contact Medicare at any time at 1-800-MEDICARE (1-800-633-4227; TTY users 1-877-486-2048).When they become eligible, most citizens are automatically enrolled in either Original Medicare, Part A, or Part B. Medicare Part A is hospital insurance while Medicare Part B is medical insurance. 

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How does Medicare work?