What are the basic parts of the Medicare program now?
There are four parts to Medicare. Medicare Part A is hospital insurance – including hospital stays, rehabilitative nursing facilities, home healthcare, and hospice. Most people don’t have to pay a premium for Part A because it was prepaid through their payroll tax while they were working. Part B is medical insurance – including doctors’ services and outpatient care. There is a monthly premium for Part B. If you don’t sign up for Part B when you first become eligible at age 65 or when you have been disabled for two years and you decide you need to join in the future, you may have to pay a penalty for each year you didn’t belong. Medicare Part C is the Medicare Advantage plan. With this option, you can opt to have your Medicare Parts A and B provided by a private company like Humana. Medicare Part D is prescription drug coverage. In one way, Part D is like Part B: If you don’t join at age 65, you may have to pay a penalty when you do join.
A. There are four parts to Medicare. Medicare Part A is hospital insurance – including hospital stays, rehabilitative nursing facilities, home healthcare, and hospice. Most people don’t have to pay a premium for Part A because it was prepaid through their payroll tax while they were working. Part B is medical insurance – including doctors’ services and outpatient care. There is a monthly premium for Part B. If you don’t sign up for Part B when you first become eligible at age 65 or when you have been disabled for two years and you decide you need to join in the future, you may have to pay a penalty for each year you didn’t belong. Medicare Part C is the Medicare Advantage plan. With this option, you can opt to have your Medicare Parts A and B provided by a private company like CarePlus. Medicare Part D is prescription drug coverage. In one way, Part D is like Part B: If you don’t join at age 65, you may have to pay a penalty when you do join.
A. There are four parts to Medicare. Medicare Part A is hospital insurance – including hospital stays, rehabilitative nursing facilities, home health care, and hospice. Most people don’t have to pay a premium for Part A because it was prepaid through their payroll tax while they were working. Part B is medical insurance – including doctors’ services and outpatient care. There is a monthly premium for Part B. If you don’t sign up for Part B when you first become eligible at age 65 or when you have been disabled for two years and you decide you need to join in the future, you may have to pay a penalty for each year you didn’t belong. Medicare Part C is the Medicare Advantage plan. With this option, you can opt to have your Medicare Parts A and B provided by a private company. Medicare Part D is prescription drug coverage. In one way, Part D is like Part B: If you don’t join at age 65, you may have to pay a penalty when you do join.
