Medicare & Medicaid  Medicare  Medicaid

Part B (medical insurance). There are monthly premiums for Part B. Premiums can be higher if you are in a higher income bracket. There is a late enrollment penalty of 10% for every 12 months that you were eligible but did not sign up. An exception would be if you have coverage or are covered by a spouse through a group health plan based on current employment, you may be able to delay enrolling in Part B and won't have to pay a lifetime late enrollment penalty if you enroll later. However, the size of your employer determines whether you are able to delay enrollment without penalty. Part B helps cover:

• Medically necessary doctor's services, outpatient care, home health services, durable medical equipment, and other medical services including many preventive services

Part C (Medicare Advantage Plan) is an alternative way to receive your Medicare coverage. You must have both Part A and Part B and you will receive this coverage through a Medicare Advantage Plan and not Original Medicare. Medicare Advantage Plans (MA) are offered through Medicare-approved private companies that must follow rules set by Medicare. Medicare Advantage Plans may offer extra coverage, like vision, hearing, dental, and other health and wellness programs. Most plans include Medicare prescription drug coverage (Part D). In addition to your Part B premium, you may have to pay a monthly premium for the Medicare Advantage Plan. Different types of Medicare Advantage Plans are:

• Health Maintenance Organization (HMO)
• Preferred Provider Organization (PPO)
• Private Fee-for-Service (PFFS) plans
• Special Needs Plans (SNP)
• HMO Point-of-Service (HMOPOS) plans
• Medical Savings Account (MSA) plans

Part D (Prescription Drug Coverage) is offered to everyone with Medicare. This coverage is offered through Medicare-approved private companies. There is a monthly premium for prescription drug coverage and it can be higher if you fall into a higher income bracket. Even if you don't take prescriptions now, you should consider joining a Medicare drug plan. If you do not join when first eligible and you don't have other creditable prescription drug coverage or receive Extra Help*, you will be faced with a late enrollment penalty. In most cases, you will pay this penalty for as long as you have Medicare prescription drug coverage. You must have Parts A and B to join a Medicare Prescription Drug Plan. You can receive your coverage 2 ways:

• Medicare Prescription Drug Plans (PDP) coverage added to Original Medicare, some Medicare Cost Plans, some Medicare Private Fee-for-Service (PFFS) plans, and Medicare Medical Savings Account (MSA) plans
• Medicare Advantage Plans (like HMO or PPO) or other Medicare health plans that offer Medicare prescription drug coverage. You get all of your Part A, Part B and Part D through these plans. Medicare Advantage Plans that include prescription drug coverage are often referred to as MA-PD

*Extra Help is a Medicare program to help people with limited income and resources pay for Medicare prescription drug costs.