Medicare is divided into four main parts:
- Part A (Hospital Insurance): Covers inpatient hospital care, skilled nursing facility care, home health care, and hospice care. Most people don’t pay a premium for Part A if they or their spouse paid Medicare taxes while working.
- Part B (Medical Insurance): Covers doctor visits, outpatient care, preventive services, and medical equipment. Most people pay a monthly premium for Part B.
- Part C (Medicare Advantage): These plans are offered by private insurance companies approved by Medicare. They provide all the benefits of Original Medicare (Parts A and B), often with additional coverage, such as prescription drugs, dental, vision, and hearing. Many Medicare Advantage plans have $0 premiums and may offer extra benefits like fitness programs and transportation assistance.
- Part D (Prescription Drug Coverage): Helps pay for prescription drugs. You can get Part D coverage through a stand-alone plan or as part of a Medicare Advantage plan.
