Part
A is hospital insurance, covering inpatient hospitalization, skilled nursing facility stays, home health care, and hospice care.
Part B is medical insurance, covering doctors'
services, diagnostic tests, durable medical equipment, and outpatient hospital services
Part C covers Medicare Advantage Plans, and Part D
covers prescription drug plans.
Part
A, which is free for most Americans, and Part B, which charges a
monthly premium of $148.50 for most people, provides the foundation of health
insurance for Americans 65 and over.
But here's more. Medicare Part A has large deductibles (for example, $1,484 for
a hospital stay of 60 days or less). Medicare Part B has no cap on
out-of-pocket costs after Medicare pays 80 percent of approved expenses.
Once the annual amount of $203 Part B deductible is met, as an example, Medicare will pay 80 percent of your bill and you will have to pay 20% of whatever amount remains with no limits. The $203 is the 2021 deductible up from 2020. A ll deductibles, premium, and co-insurance amounts above are for Part A and Part B effective January 1, 2021.
Once the annual amount of $203 Part B deductible is met, as an example, Medicare will pay 80 percent of your bill and you will have to pay 20% of whatever amount remains with no limits. The $203 is the 2021 deductible up from 2020. A
Medicare Additional Coverage
The limitations
of Parts A and B prompts an estimated 39 percent of people on Medicare to enroll in a Medicare Advantage Plan. Medicare
Advantage plans, Part C, are offered by private companies approved by Medicare, Besides
services included in Medicare Parts A and B, they usually offer additional
coverage, including vision and dental, health club membership, and both prescription drugs and transportation.
Go to Medicare Advantage Plans And see what plans are available to you and take advantage of the benefits you have coming.