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How Does it Work? The Different Parts of Medicare Explained

If you’ve ever felt confused while reading about Medicare, you’re not alone. Medicare is a complicated program, and it can be tricky to keep track of the many options and layers of information. Thankfully, the program has been broken down into four basic parts that make it clear and easy to understand:

Here’s a detailed rundown of each of the four parts of Medicare and how they may apply to you:

Medicare Advantage Plans are offered by private companies that must follow rules set by Medicare. However, it’s important to know that each Medicare Advantage Plan can charge different out-of-pocket costs and may enforce different rules for how you get services (such as requiring a referral before you can see a specialist, etc). 

Every Medicare Part D plan is required to cover certain common types of drugs, which will be listed on their drug list (also known as formulary). However, each plan may choose which specific drugs it covers, so make sure you choose a plan that covers your medications before you enroll.

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