Lesson 2: Overview of Medicare Benefits and Coverage -- Parts A, B, C, and D

Medicare is divided into four main parts:

1. Part A (Hospital Insurance)
   This part covers inpatient hospital stays, skilled nursing facility care, hospice care, and some home health care services. Most people do not pay a premium for Part A if they or their spouse paid Medicare taxes for at least 10 years.

2. Part B (Medical Insurance)
   Part B covers outpatient care, doctor visits, preventive services, and some home health care. Unlike Part A, there is typically a monthly premium for Part B. It is important to enroll in Part B when you first become eligible to avoid penalties.

3. Part C (Medicare Advantage Plans)
   Part C, also known as Medicare Advantage, includes all benefits offered by Parts A and B and typically includes additional coverage such as vision, hearing, and dental services. Advantage plans are provided by private insurance companies approved by Medicare, and they may have different cost structures and coverage rules.

4. Part D (Prescription Drug Coverage)
   Part D offers prescription drug coverage and is also offered by private insurers. Enrollment in a Part D plan requires a separate monthly premium, and it’s advisable to consider adding this coverage to avoid late enrollment penalties.