Medicare is so popular that the vast majority of Americans want to extend its coverage to everyone. In fact, nearly 70% of all American voters support a Medicare-for-all program.

Currently, this entitlement program provides health coverage to tens of millions of elderly people. It is a crucial program for retirees as many are no longer eligible for employer-based health insurance. However, many people do not understand how Medicare works.

Read on to explore the different types of Medicare plans. Learn how many types of Medicare plans are there and what coverage they provide.

Part A

The first part of Medicare is referred to as Part A. It is the insurance type that you use for hospital stays.

It also covers expenses incurred at nursing homes or a hospice facility. If you require a home health aide, Medicare Part A would be used as well.

It is important that you utilize a hospital that accepts Medicare. Also, you will need to be recognized as an inpatient of the hospital to receive coverage.

Part B

Part B is the next type of Medicare coverage. This insurance type focuses more on the diagnosis and treatment side of medical care. It also covers preventative health care like blood work or checkups with a primary care physician.

For example, consider that your gastroenterologist wants you to get an endoscopy. They are scoping your digestive system in an attempt to diagnose discomfort in that region.

This type of diagnostic test is covered under Medicare Part B. It is also going to cover things like blood tests or ultrasounds.

There are a few other notable health care items that are covered. Ambulatory services are covered under Medicare Part B.

Also, durable medical equipment (DME) and mental health are covered here. There is also a limited prescription drug benefit.

Part C

This insurance type is commonly referred to as Medicare Advantage. Many retirees do not consider Parts A and B sufficient for their health care needs.

They believe that they are too restricted by the network of doctors and hospitals that accept Medicare. The solution for these individuals is to pay extra and get a Medicare Advantage plan.

Medicare Advantage is not offered by the federal government. Instead, private health insurance companies offer it. You can find a company that suits your needs on a website like Medicarewise.com.

At a minimum, they must meet the coverage thresholds of Medicare Parts A and B. These companies provided added coverage including for prescription drugs.

Part D

This type of Medicare is exclusively for prescription drugs. Most people get Medicare Parts A and B when they sign up.

Like Medicare Advantage, Part D is an optional benefit. You can get it any time although you will pay a late-enrollment fee if you do not sign up when you first become eligible.

A Recap of the Different Types of Medicare Plans

Medicare is a crucial part of the American retirement plan. This is how our elderly citizens receive health care when their employer no longer provides coverage.

If you enjoyed this article about the different types of Medicare plans, check out our blog for more great content.