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Physicians Mutual Insurance Company

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1-800-235-7732


How Does Medicare Work?

Medicare is divided into four parts:

  • Part A - Hospital Insurance (Original Medicare)
  • Part B - Medical Insurance (Original Medicare)
  • Part C - Medicare Advantage (MA) Plans
  • Part D - Prescription Drug Coverage

Part A — Hospital Insurance

  • Benefits help cover inpatient care in hospitals, skilled nursing facilities, hospice and medically necessary home health care
  • Most people do not pay a premium

Part B — Medical Insurance

  • Benefits help cover services provided by doctors and other health care providers, outpatient care, durable medical equipment, home health care and some preventive services
  • Most people pay the standard Medicare Part B premium
 

Tip: Original Medicare has gaps in coverage. That means — if you have Parts A and B — there may be costs you must pay on your own. Medicare Supplement Insurance (also called Medigap) from Physicians Mutual Insurance Company can help. This is private insurance you can buy to help pay bills Medicare may not cover.

 

Time Saver: To help make your transition to Medicare as smooth as possible, download a copy of "Your Medicare Timeline" , an easy-to-follow list of steps to take before you turn 65.

 

Part C — Medicare Advantage (MA) Plans

  • Offers health plan options run by Medicare-approved private insurance companies
  • Enrollment is optional and replaces Original Medicare
  • Many MA plans offer Medicare prescription drug coverage (Part D)
  • Premiums and benefits vary by plan
  • If you go with an MA plan, you cannot have Medicare Supplement Insurance

Part D — Prescription Drug Coverage

  • Benefits help pay for prescription drug costs
  • Enrollment is voluntary
  • Plans are available through private insurance companies approved by Medicare
  • Premiums and benefits vary by plan
 

Next:
Find out how Medicare Supplement insurance can help provide more coverage than just Medicare alone … >

 

In NE: P020/P025/P026/P027/P029