Medicare is divided into several parts, each covering specific services: • Medicare Part A (Hospital Insurance): Part A covers inpatient hospital care, skilled nursing facility care, hospice care, and some home health services. Most beneficiaries receive Part A coverage automatically upon turning 65, provided they or their spouse have paid Medicare taxes while employed. • Medicare Part B (Medical Insurance): Part B covers doctor visits, outpatient care, preventive services, and durable medical equipment. Beneficiaries must enroll in Part B during their Initial Enrollment Period (IEP) to avoid late enrollment penalties unless they are eligible for a Special Enrollment Period (SEP). • Medicare Part C (Medicare Advantage): Part C allows private insurance companies to offer Medicare-approved plans that provide all Part A and Part B benefits, often including additional benefits like prescription drug coverage and dental services. • Medicare Part D (Prescription Drug Coverage): Part D provides prescription drug coverage to help beneficiaries afford the cost of medications. Private insurance companies approved by Medicare offer Part D plans, which can be purchased as standalone plans or as part of Medicare Advantage plans. Understanding the basics of Medicare and its various components is essential for making informed decisions about your healthcare coverage. In the following chapters, we'll delve deeper into each part of Medicare, exploring coverage, enrollment processes, costs, and other essential details to help you navigate the Medicare system effectively. 1.3 Different Parts of Medicare Chapter 1: Understanding Medicare - An Overview 202404PMED1MDSIMPLE 5 www.Postal-Service-Health-Benefits-Program.com
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