Enrollment in Medicare is divided into four sections: Part A is fee-for service and covers Hospital and Hospice care, Part B is also fee-for-service and covers outpatient services and tests, Part C is sometimes referred to as Medicare Advantage and provides similar services to Part A and B as well other services not typically covered by those Parts, Part D is the prescription drug plan created in 2006 and is designed to help people pay for self-administered prescriptions to the extent that those covered have little to no prescription drug costs.
One important note on Medicare coverage is that Medicare is not designed to pay for all medical costs. By design, the program contains premiums, deductibles and co-pays like traditional health care plans. Open enrollment for all Medicare plans is between October 15 and December 7 each year.
For more on this important healthcare topic, check out our new article Thursday.