Dear Mr./Mrs./Ms.
Health insurance in the US consists of several programs that help pay for an individual's medical expenses. Medicare is an example of a government health insurance plan that covers anyone with end-stage renal disease, individuals above the age of 64, or those under 65 with disabilities (CMS, 2020). Medicare has been divided into four parts that will be further explained.
Medicare Part A
Medicare Part A covers hospital insurance. Services that one is eligible to include hospice care, trained nursing facility care, and home health care (CMC, 2020). Part A is premium-free if the beneficiary or their partner had been paying Medicare taxes for ten or more years while you were working, you are qualified for the premium-free Part A (HHS.gov n.d). This part only covers patient cost when admitted.
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Medicare Part B
Medicare Part B is part of an elective cover that recipients pay for the standard premium amount. Some of the services one is eligible to include durable medical equipment, outpatient care, and services from doctors and other health care providers (CMS, 2020). Part B is also considered to be part of the original Medicare part B premiums for 2020 cost from $144.60 monthly, depending on an individual or a couples' annual income (NC DOI n.d).
Medicare Part C
Medicare Part C is the benefits plan as it offers an all in one package. Part C offers a bundle plan that is inclusive of Part A, Part B, and Part D (CMS, 2020). There are different types of plans offered under Part C, each with its advantage, such as dental, hearing, or vision services (NC DOI n.d). Under Part C, one can pay a monthly premium. Part C may have a lower out of pocket cost than original Medicare.
Medicare Part D
Medicare Part D helps cover the price of prescription medication. Part D is managed by private companies that follow set guidelines by Medicare for outpatient drug coverage (CMS, 2020). The advantage of having this plan is that it not only helps in reducing the prices of drugs but may also impact the fee you pay for drugs in the future (NC DOI n.d). However, if you have credible drug coverage from your retiree insurance or employer, you can opt-out of purchasing this plan.
Conclusion
Medicare is a government health insurance plan that is divided into four parts. All these four parts offer different coverage for their beneficiaries. Understanding these parts will help you choose the best coverage plan for your needs.
Than k you.
Yours sincerely
Medical Nurse
References
CMS. (2020). What's Medicare? https://www.medicare.gov/Pubs/pdf/11306-Medicare-Medicaid.pdf
HHS.gov. (n.d). Who is eligible for Medicare? https://www.hhs.gov/answers/medicare-and-medicaid/who-is-elibible-for-medicare/index.html
NC DOI. (n.d). Basics of Medicare. https://www.ncdoi.gov/consumers/medicare-and-seniors-health-insurance-information-program-shiip/basics-medicare-parts-b-c
