Medicare is divided into four Parts:
Medicare Part "A" covers hospital (inpatient, formally admitted only), skilled nursing (only after being formally admitted to a hospital for three days and not for custodial care), and hospice services.
Medicare Part "B" covers outpatient services including some providers' services while inpatient at a hospital, outpatient hospital charges, most provider office visits even if the office is "in a hospital", and most professionally administreerd prescription drugs.
Medicare Part "D" covers mostly self-administered prescription drugs.
Medicare Part "C" is an alternative called "Managed Medicare or Medicare Advantage Plans"
A Medicare beneficiary pays a monthly premium to a private insurance company and receives coverage for in-patient hospital (Part A) and outpatient (Part B) services. Typically, the plan also includes prescriptions drug coverage (Part D). Many plans also offer additional benefits, such as dental, vision, hearing, OTC benefits, gym memberships, and other benefits.
By contrast, under so-called "Original Medicare", a Medicare beneficiary pays a monthly premium to the federal government and receives coverage for Part A and Part B services, but must purchase other coverage for prescription drugs - Part D, a Supplement, and other benefits like dental, vision and hearing,
all sold separately.
Medigap refers to various private health insurance plans sold to supplement Medicare Plans in the United States. Medigap insurance provides coverage for many of the co-pays and some of the co-insurance related to Medicare - covered hospital, skilled nursing facility, home health care, ambulance, durable medical equipment, and doctor charges. Medigap's name is derived from the notion that it exists to cover the difference or "gap" between the expenses reimbursed to providers by Medicare Parts A and B for the preceding named services and the total amount allowed to be charged for those services by the United States Centers for Medicare and Medicaid Services (CMS).
Copyright © 2024 Gard Advisors - All Rights Reserved.
Powered by GoDaddy Website Builder