Medicare, the federal insurance program for individuals 65 or older, insures over 44 million individuals across the country. At Better Health Advisors, we frequently receive Medicare related questions from retirees and family offices. In response, we have put together a guide to take the confusion out of the enrollment process and ensure that you have the best coverage for your specific health and wellness needs. Here is what you should know:
There Are Four Parts Of Medicare:
- Part A: Hospital Insurance (inpatient care)
- Part B: Medical Insurance (outpatient care)
- Part C: Medicare Advantage (combines coverage of Part A, Part B and sometimes a prescription drug plan and other additional benefits)
- Part D: Prescription Drug Plan (prescription drug coverage also available through a Medicare Advantage Plan)
Part A and Part B are collectively referred to as “Original Medicare.”
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