Medicare A,B,C,D – what do they mean????
Medicare is health insurance for people age 65 and older, people under the age of 65 with certain disabilities, and people of any age with permanent kidney failure requiring dialysis or kidney transplant.
Medicare has four different parts:
Medicare Part A – provides assistance in covering inpatient care in an acute care hospital, rehab facility or long term care hospitals. Part A also helps cover skilled nursing facilities, hospice and home health care services. It does not cover long term care.
Medicare Part B – provides assistance in covering Doctor services and outpatient care. It assists with coverage of some preventative services to help maintain health and to keep some illnesses from getting worse. Part B generally pays 80% of the Medicare-approved amount for covered services.
Medicare Part C – This is referred to as “Medicare Advantage Plans” – this is when Private companies can provide Medicare Benefits which are approved by and under contract with Medicare. They include part A, Part B and usually other benefits not covered by Medicare. Most plans also provide prescription drug coverage.
Medicare Part D – This is run by private companies approved by Medicare, which can either be Medicare Advantage Plans or separate Medicare Prescription Drug Plans. This helps to cover the cost of prescription drugs. Each plan varies in cost and the drugs covered.