Question:
I will rely on Medicare when I retire. Can you explain the different parts of Medicare?
Answer:
The different parts of Medicare cover your specific needs. There are four parts, all of which work in tandem to deliver healthcare services.
Part A (hospital insurance): Hospital insurance helps pay for inpatient care in a hospital or skilled nursing facility (following a hospital stay), some home health care, and hospice care.
Part B (medical insurance): Medical insurance helps pay for doctors’ services and many other medical services and supplies that hospital insurance doesn’t cover.
Part C (Medicare Advantage plans): If you have Medicare Parts A and B, you can join a Medicare Advantage plan. Private companies offer Medicare Advantage plans which are approved by Medicare. These plans generally help you pay the medical costs not covered by Medicare Part A and B.
Part D (prescription drug coverage): Prescription drug coverage helps pay for medications doctors prescribe for treatment.
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