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The A, B, & C's of Medicare
Mar 01, 2010
Understanding the Different Parts of Medicare.
The A, B, C’s of Medicare
Medicare Part A covers hospital and related services. For example,
Medicare part A will cover:
- Inpatient hospital care
- Inpatient skilled nursing care (not custodial or long-term care)
- Home health care
- Hospice care
Medicare Part A premium is often free. It is free for those who have worked 40 quarters and paid into the Medicare system.
Medicare Part B covers physician and related expenses. For example,
Medicare Part B will cover:
- Physician services received inpatient or outpatient
- Emergency hospital care
- Ambulance services
- Medical equipment
- Medical supplies
- Health services like lab fees, tests, etc
Medicare Part B premium in 2009, is $96.40 for most people. There is also a deductible for Part B. In 2009, the deductible is 135.00 dollars. In most cases, Medicare Part A and B only pay 80% of covered charges. You must pay the other 20%. Unless, you have a Medicare Supplement, also known as Medigap.
If your Medicare premiums and co-payments are difficult for you to afford, Medicare Savings Programs help pay for your Part A and/or Part B premiums, deductibles, and/or copayments. To qualify for Medicare Savings Programs you need to have Medicare Part A and limited income and resources. These programs can help people with Medicare save money each year. Call or visit the state Medicaid office or local social service agency for more information.
Medicare Part C, also known as Medicare Advantage (MA) plans, are healthcare plans approved by Medicare and provided by private insurance companies. MA plans provide all of your Part A (hospital insurance) and Part B (medical insurance) coverage and other medically necessary services, just like you have under Original Medicare. These plans may also include additional benefits such as dental, vision, or transportation cost assistance, in addition to prescription coverage.
MA Plan premiums vary, with the costs ranging anywhere between $0 and a couple hundred dollars, depending upon the plan. MA plans are available to people who have both Medicare Part A and B and do not have End Stage Renal Disease. People on MA plans will continue to pay their Part B premium in addition to any MA plan premiums.
Some examples of Medicare Advantage plans include Health Maintenance Organizations (HMO), Preferred Provider Organization (PPO), Private Fee For Service (PFFS), and Special Needs Plans (SNP).
Before you purchase a Medicare Advantage plan, make sure your doctors and hospitals will accept the plan you choose.
