There are a range of insurance plans available through Medicare which is government and federal funded. These are divided into four parts: Part A, Part B, Part C, and Part D. A brief description of each of the parts is provided below. It is important to note that Part C has a wide variety of plans available, each with different benefits, and not all of these are available in all states, so it is best to seek advice from a professional provider before agreeing to any insurance.

Part A – Hospital Insurance

This part of Medicare is specifically to cover:

  • Inpatient care if admitted to hospital
  • Skilled Nursing Care, if placed in a skilled nursing facility
  • Terminal/End of life hospice care
  • Home based health care

Part B – Medical Insurance

Part B of the Medicare program is designed to cover:

  • Doctor or other healthcare providers services
  • Any outpatient care which may be required
  • The provision of Durable Medical Equipment (DME). Durable Medical Equipment is classified as:
    1. Equipment used to serve a medical purpose
    2. Equipment which in the absence of illness, disability, or injury would not be of use to the individual
    3. Equipment that is ordered or prescribed by a physician as it would be beneficial for the patient
    4. is reusable and can stand repeated use

Part C – Medicare Advantage

Part C will cover:

  • All of the services provided in parts A & B
  • Will usually cover prescription drugs (Part D)
  • Is run by private insurance companies who are approved by Medicare
  • Other benefits may be included at an extra cost
  • Advantage plans can vary depending upon each state, so it is important to find uot what is available in the area.

Part D – Medicare Prescription Drugs Coverage

Part D of Medicare can:

  • Help cover the cost of prescription drugs
  • May help lower the price of prescription drugs and prevent it from rising in the future
  • Is run by private insurance companies who are approved by Medicare