Medicare 101

Medicare is a government program that helps cover certain healthcare costs for age 65 above as well as certain yonder individual with disabilities. It is divided in 4 parts.

Parts Of Medicare

PART A  

Medicare Part A is hospital insurance that helps cover inpatient hospital stays, skilled nursing facility care, hospice services, and limited home health care. Most people do not pay a monthly premium if they have worked and paid Medicare taxes for at least 40 quarters. However, there is a deductible for each benefit period and potential coinsurance for longer stays. Part A is the foundation of Original Medicare and focuses primarily on inpatient care.

PART B 

Medicare Part B is medical insurance that helps cover doctor visits, outpatient care, preventive services, lab tests, durable medical equipment, and certain home health services. Unlike Part A, most beneficiaries pay a monthly premium for Part B. It also includes an annual deductible and typically requires members to pay 20% coinsurance for covered services. Part B is essential for ongoing medical care and routine health needs under Original Medicare. Even if you are enrolled in Medicare Advantage plan which includes Part A and Part B benefits, you will still pay for Part B premiums.

PART C (Medicare Advantage Plans)

Medicare Part C, also known as Medicare Advantage, is a private insurance plan that combines Medicare Part A (hospital) and Part B (medical) coverage into one comprehensive plan. Many plans also include prescription drug coverage (Part D) and extra benefits like dental, vision, and hearing. To enroll in a Medicare Advantage plan, you must first be enrolled in both Part A and Part B and continue paying your Part B premium. Part C replaces Original Medicare for how you receive your benefits, but you still remain in the Medicare program.

PART D (Prescription Drug Plans)

Medicare Part D provides prescription drug coverage to help reduce the cost of medications. It can be purchased as a standalone Prescription Drug Plan (PDP) to work alongside Original Medicare, or it can be included within a Medicare Advantage plan known as an MAPD (Medicare Advantage Prescription Drug) plan. Part D plans vary in premiums, formularies, and pharmacy networks, so it’s important to review your medications each year. Choosing the right Part D or MAPD plan can significantly impact your out-of-pocket drug costs.

Medicare Supplemental Plans

Medicare Supplement insurance, also called Medigap, helps cover out-of-pocket costs not paid by Original Medicare, such as deductibles, coinsurance, and copayments. These plans work alongside Original Medicare Part A and Part B and allow you to see any doctor nationwide who accepts Medicare. Medigap plans do not include prescription drug coverage, so a separate Part D plan is needed. They provide predictable costs and add peace of mind for those who want broader provider flexibility. 

Medicare Choices

Original Medicare Option
With Original Medicare, you enroll in Part A (hospital coverage) and Part B (medical coverage) directly through Medicare. You can add a standalone Part D plan for prescription drug coverage and purchase a Medicare Supplement (Medigap) policy to help pay for deductibles, coinsurance, and other out-of-pocket costs. This option offers the flexibility to see any doctor nationwide who accepts Medicare, with more predictable cost-sharing when paired with Medigap.

Medicare Advantage Option

Medicare Advantage (Part C) is an all-in-one plan offered by private insurance companies that combines Part A and Part B coverage and often includes Part D prescription drug coverage. Many plans also provide extra benefits such as dental, vision, hearing, and fitness programs. These plans typically use provider networks and have set copays, making them a more bundled and simplified approach to receiving your Medicare benefits.

Choosing the right Medicare coverage depends on your doctors, medications, budget, and long-term health needs. At Myriad Enterprises LLC, we simplify the process with clear, personalized guidance — at no cost to you  so you can make informed decisions with confidence.