What are 4 types of Medicare? This is a question you may come across when you have to decide what you want covered. In actual sense, they are not types but rather parts of Medicare. Each of them covers a specific area but they are somehow tied to the original Medicare.
What are the 4 Types of Medicare
Health insurance is necessary because it helps relieve the stress when unexpected medical costs occur. When you find yourself in the dark about the Medicare types, this post has the help you need. It will detail the various parts of Medicare and what is covered in each. It will also explore the Original Medicare and tell you when you need it.
Parts of Medicare
Medicare is subdivided into 4 parts as follows;
- Part A: It is dedicated to cover inpatient costs or what is called hospital expenses in some quarters. You sign up for Part A when you enroll for Medicare.
- Part B: In general, Part B covers medically necessary services, as well as preventive services.
- Part C: This is an option you can add to Parts A and B to enjoy your Medicare benefits and have additional coverage..
- Part D: is for prescription drugs, not Part F which is a separate plan to cover cost sharing with patients.
As you can see, each part/type of Medicare covers a specific area in the health circles. Generally, Part A and B are the most popular types partly because they offer a comprehensive cover for both inpatient and outpatient services. Again, it is because both can be accessed collectively through the original Medicare. Another thing that makes the original Medicare quite popular is the fact that it is under the custodian of the federal government. With it, you can walk into any hospital in the country, receive treatment, and the federal government pays for that service directly.
The Components of the Original Medicare
You can quality for Medicare Part A and B once you are 65, and reach other requirements. In some quarters, original Medicare is referred to as the fee-for-service Medicare. Actually, this is the actual description of how it works. Here are some of the features of the original Medicare as drafted in the act;
- You do not require permission or authorization beforehand to go to hospital or see a doctor. You can see a doctor any time and any day without any problem at all and have your expenses covered by Medicare.
- You will be paying premiums for part B each month. Some cases also have to pay premiums for Part A. Confirm if you fall into that category before you run into any inconvenience.
- For each service you get, you are typically supposed to pay a copay for it.
- Hospitals and doctors have a capping to how much they should charge you.
With original Medicare, as you may have already noticed, you are not getting any cover for prescription drugs. You will have to get a separate cover for such from your pocket. Just you know; there are several government-initiated programs that can help you cut down the costs of prescription drugs.
You should now know the answer to what are the 4 types of Medicare? With this, you can make a decision on what suits your needs. Typically, part A and B come as a package in the traditional Medicare. However, you should make private arrangements for prescribed drugs.