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Parts of Medicare

If you are nearing Medicare eligibility, it’s important to know what each part of Medicare is to find the coverage that works for you! Medicare is divided into four different parts: Part A, Part B, Part C, and Part D. Each part has its own specific coverage and costs.

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Part A

Medicare Part A is Medicare’s inpatient coverage. You may have premium-free Part A if:

  • You receive or are eligible to receive retirement benefits from the RRB or Social Security
  • You had Medicare-covered government employment
  • You have worked and paid Medicare taxes for at least ten year (40 quarters)
For others, the monthly premium can be between $278 and $505. As of 2024, those with Part A will also have to pay a $1,632 deductible per benefit period.

Part A Covers:

Part B

Medicare Part B is Medicare’s medical insurance.

Part B Covers:

Costs include:

  • Annual deductible of $240
  • Monthly premium of $174.70 (higher-income individuals will have a higher monthly premium)

Part B will cover 80% of your Medicare-approved costs, and you will pay 20% out-of-pocket.

Part C

Part C is also known as Medicare Advantage. It combines Part A and B coverage, and may include additional benefits, such as:

  • Prescription drug coverage
  • Vision
  • Hearing
  • Dental
  • Transportation to doctor visits
  • Health and wellness services
  • Gym memberships

Some Medicare Advantage plans will have little to no monthly premium, but you will still need to cover Part A and B-related costs.

Part D

Part D provides coverage for prescriptions. All Part D plans will provide coverage for a range of prescriptions, including most drugs in protected classes.

Part D Covers:

Find Coverage That Works For You

At Toni Buffington Medicare Solutions, we are committed to finding you coverage that meets your needs! To learn more about your Medicare options and to get Medicare help from experts, reach out to us today!