What are the “parts” of Medicare and what does each cover? 

Relax in your favorite chair, grab your pumpkin spiced latte and light the logs in the fireplace…. it’s time to research your Medicare options for 2024. Medicare open enrollment is here.  So let’s dig in and look at what are the parts of Medicare and what does each part cover.

Medicare has 4 Different Parts

• Part A  – is hospital insurance and helps cover things like inpatient care in the hospital, skilled nursing facility care for short term rehabilitation after a hospital stay, hospice care, and some home health care.
• Part B  – is medical insurance and helps cover services from doctors and other health care providers, outpatient care, some home health care, durable medical equipment like wheelchairs and walkers, and many preventative services such as screenings and vaccines.

Other Medicare Parts 

There are other parts of Medicare that are run by private insurance companies.  They must comply with Medicare requirements.

• Part C  – also known as Medicare Advantage plans, take the place of traditional Medicare part A and B. Advantage plans are known to be cost-effective options that can provide additional services like gym memberships and vision coverage.  Plans operate within a defined network of providers which can limit flexibility. We caution our Hurley Elder Care Law clients about Medicare Advantage plans.
• Part D – helps cover the cost of prescription drugs.

Supplemental/Medigap Policies

These plans cover more expenses than traditional Medicare, such as the co-pay on short-term rehabilitation days as well as offering access to a wider array of providers.

Next week we will continue our discussion of Medicare 2024 open enrollment with an FAQ for our readers. As always, our team at Hurley Elder Care Law can help explain the Medicare basics and can also share the names of insurance professionals who can assist you with figuring out the best plan for your needs.