What are the “4 parts” of Medicare? What do they cover?

What are the "4 parts" of Medicare? What do they cover?

  • Part A – Helps pay for hospital and other inpatient stays. Medicare Part A has a hospital deductible for each inpatient stay. The deductible for 2019 is $1364 per admission.
  • Part B – Helps pay for doctors and other outpatient services, such as labs and x-rays. Part B has a deductible and coinsurance for the doctor and other outpatient services. The annual Part B deductible for 2019 is $185. Medicare then pays 80% of allowed charges leaving you with the 20%. Medicare does not have a limit to the 20% you pay. Medicare Supplement plans cover some or all of these deductibles and coinsurance amounts.
  • Part C – Medicare Advantage Plans – Plans approved by Medicare offered by private insurance companies that cover all Medicare services. Some offer prescription drug coverage and extra benefits such as dental and vision. Plans are usually HMO or PPO type plans. They may include copays, coinsurance and out of pocket limits. Talking with a licensed professional can help you decide if this is a good option for you.
  • Part D – Helps pay for prescription drugs. Offered by private insurance companies approved by Medicare, may have deductibles and copays.