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  • Published Date

    August 5, 2022
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The Four Parts of Medicare: What you need to know Medicare. Probably the most confusing topic of discussion among soon-to-be 65-year-olds. Are you eligible? Which parts do you need? When do you need to get them? How much does it cost? What does this all mean? And much more. Let's find out. You become eligible for Medicare when you turn 65, if you're under 65 with specific disabilities or have end-stage renal disease. If you are 65 or older and still working, you do not need to start Medicare until you come off your employer's health benefits. When you receive Social Security Benefits, you will be automatically enrolled in Medicare Parts A and B when you turn 65. If you are not yet receiving Social Security Benefits, you must apply for your Medicare Parts A and B through the Social Security Office. There are four parts to Medicare. Medicare Part A (Hospital Coverage) covers things like inpatient hospital stays, home health care and some skilled nursing facility care. As long as you or your spouse has worked 40 quarters to pay into Medicare Tax, you are eligible for Premium-Free Part A. Medicare Part B (Medical Coverage) covers things like doctor visits, outpatient services, lab tests and preventative screenings. You do have to pay for Part B. The standard premium for 2022 is $170.10 per month. Together, Medicare Parts A and B are referred to as Original Medicare. This is what you need when you turn 65 or retire. Medicare Part C (Medicare Advantage) are plans offered by private health insurance companies. When you join a Medicare Advantage plan, you still have Original Medicare. The difference is the plan covers and pays for your services instead of Original Medicare. These plans have a monthly premium anywhere from $0 - $150+ and must provide the same coverage as Original Medicare. So, you're not missing out on anything. They also offer extra benefits like dental, vision, hearing coverage and much more! Medicare Part D (Prescription Drug Coverage) are plans that only private insurance plans offer. It's usually included in a Medicare Advantage plan, or you can get a stand-alone Part D plan. Though Medicare Part B covers certain vaccines and medications, Part D provides much more comprehensive coverage of vaccines and prescription drugs. Once you are on Medicare, whether you have Part C (Medicare Advantage) or Part D, you have one opportunity each year to change your coverage. Medicare plans, as well as your personal medical situations, can change every year. October 15 through December 7 is called the Annual Enrollment Period. Whether you are already enrolled in a Medicare plan, or you just have Original Medicare and have not enrolled in anything else, this is your opportunity to make a change or enroll. Even if you have been happy with your coverage, reviewing changes happening in the Medicare world is always great. Health Benefits Group, Inc., located at 20 Donati Road, Suite 200 in Bethel Park, can help you review all changes at no cost to you. Give us a call at 412-851-7070 to schedule your Annual Enrollment Period review, and we are happy to answer any questions you may have. Sponsored content brought to you by HB Benefits Group, Inc. The Four Parts of Medicare : What you need to know Medicare . Probably the most confusing topic of discussion among soon - to - be 65 - year - olds . Are you eligible ? Which parts do you need ? When do you need to get them ? How much does it cost ? What does this all mean ? And much more . Let's find out . You become eligible for Medicare when you turn 65 , if you're under 65 with specific disabilities or have end - stage renal disease . If you are 65 or older and still working , you do not need to start Medicare until you come off your employer's health benefits . When you receive Social Security Benefits , you will be automatically enrolled in Medicare Parts A and B when you turn 65. If you are not yet receiving Social Security Benefits , you must apply for your Medicare Parts A and B through the Social Security Office . There are four parts to Medicare . Medicare Part A ( Hospital Coverage ) covers things like inpatient hospital stays , home health care and some skilled nursing facility care . As long as you or your spouse has worked 40 quarters to pay into Medicare Tax , you are eligible for Premium - Free Part A. Medicare Part B ( Medical Coverage ) covers things like doctor visits , outpatient services , lab tests and preventative screenings . You do have to pay for Part B. The standard premium for 2022 is $ 170.10 per month . Together , Medicare Parts A and B are referred to as Original Medicare . This is what you need when you turn 65 or retire . Medicare Part C ( Medicare Advantage ) are plans offered by private health insurance companies . When you join a Medicare Advantage plan , you still have Original Medicare . The difference is the plan covers and pays for your services instead of Original Medicare . These plans have a monthly premium anywhere from $ 0 - $ 150 + and must provide the same coverage as Original Medicare . So , you're not missing out on anything . They also offer extra benefits like dental , vision , hearing coverage and much more ! Medicare Part D ( Prescription Drug Coverage ) are plans that only private insurance plans offer . It's usually included in a Medicare Advantage plan , or you can get a stand - alone Part D plan . Though Medicare Part B covers certain vaccines and medications , Part D provides much more comprehensive coverage of vaccines and prescription drugs . Once you are on Medicare , whether you have Part C ( Medicare Advantage ) or Part D , you have one opportunity each year to change your coverage . Medicare plans , as well as your personal medical situations , can change every year . October 15 through December 7 is called the Annual Enrollment Period . Whether you are already enrolled in a Medicare plan , or you just have Original Medicare and have not enrolled in anything else , this is your opportunity to make a change or enroll . Even if you have been happy with your coverage , reviewing changes happening in the Medicare world is always great . Health Benefits Group , Inc. , located at 20 Donati Road , Suite 200 in Bethel Park , can help you review all changes at no cost to you . Give us a call at 412-851-7070 to schedule your Annual Enrollment Period review , and we are happy to answer any questions you may have . Sponsored content brought to you by HB Benefits Group , Inc.