The ABC’s of Medicare
Medicare Part A (Hospital Insurance)
Part A of Original Medicare, covers hospital stays (Your must be admitted to the hospital), skilled nursing care, home health care, and hospice care. For most Medicare eligible seniors, Medicare Part A comes at no additional cost. To get Part A at no additional cost you must work and pay FICA tax on your pay check for a total of 40 quarters. There is a Part A premium if you do not meet the 40 quarter requirement.
Medicare Part B (Medical Insurance)
Part B Original Medicare, covers out-patient hospital services, doctor visits, preventive services, diagnostic testing, and durable medical equipment. For the majority of seniors, The Part B Premium for most people in 2025 is $185.00 per month. However, the Part B Medicare premium can increase annually and is based on your annual income.
Medicare Part C (Medicare Advantage)
Medicare Advantage Plans are offered by private insurance companies approved by Medicare. If you join a Medicare Advantage Plan, you still have Medicare. You’ll get your Medicare Part A (Hospital Insurance) and Medicare Part B (Medical Insurance) coverage from the Medicare Advantage Plan and not Original Medicare. Medicare Advantage Plans cover all Original Medicare services. Most Medicare Advantage Plans also offer extra coverage, like Medicare Part D Prescription Drug Coverage. Also included in many plans are vision, hearing and dental coverage. Some Medicare Advantage plans have a premium and some do not have a premium. You will still be required to pay the Part B premium. Some plans may change annually. Some plans may leave and others may become available. Most plans only work in the county you live in. Some plans work in a larger service area. You will be required to stay within a network of doctors and hospitals. Some plans will allow you to go outside their network for additional out of pocket charges. To compare benefits and prices, it is easiest to contact a licensed agent at no cost to you, an agent can help you find the right balance between Medicare premiums and coverage for your individual needs. There is an Annual Election Period available to you to keep your plan or move to a different plan based on availability and need. There is no medical questions or underwriting necessary to make changes. See the bottom of this page for more information about the Annual Election Period.
Medicare Part D (Prescription Drug Insurance)
Medicare Part D provides coverage for prescription drug medications, Medicare Part D, is sold by private insurance companies. New in 2025, there is no longer a Coverage Gap, "Donut Hole," in Medicare Part D. The elimination of the Coverage Gap will save many people a significant amount of money. Many Medicare Advantage plans (Part C plans) include Medicare Part D. Medicare Supplement plans do not include Medicare Part D.
Medicare Supplement Plans or (Medigap Plans)
Medicare supplement plans provide a more predictable out-of- pocket cost option, while helping fill the gaps in your Medicare Part A and B coverage. Medicare Supplement plans have national coverage. All Doctors and Hospitals that accept Medicare Patients are available to you nationally. Medicare Supplement plans are organized by letter (A, B, C, D, F, G, K, L, M, and N). See Chart. When purchasing a Medicare Supplement plan, seniors should carefully review the difference between the plans and what is and is not covered. Medicare Supplement plans require a monthly premium in addition to the Part B premium and do not include Prescription Drug Coverage, Vision Coverage, Dental Coverage or Hearing Coverage. There is no underwriting during your initial election period. You may make changes anytime during the year but you will need to expect to answer medical questions and go through underwriting to make these changes.
Annual Election Period
The Annual Election Period starts October 15th. Each year, the Medicare Annual Election Period (AEP) runs from October 15th through December 7th. This is a special time frame when Medicare beneficiaries have the option to make changes to certain types of Medicare health insurance plans. Any changes made during AEP will take effect January 1st of the upcoming year. Insurance carriers are required to provide a detailed update each year by September 30th regarding your existing Medicare Advantage Plan or Part D Prescription Drug Plan. This notice is called the Annual Notice of Change (ANOC). Since these Medicare insurance plans run on a calendar year basis, there are usually some sort of changes in plan benefits and features from year-to-year. This is exactly why the Medicare AEP exists. It provides you with the “option” to change your plan, if it’s beneficial. Please call me: 678-591-4894 if you want to discuss changes in your existing plan. I am a Licensed Insurance Agent representing United HealthCare here in Palm Beach County. Call me if you are unhappy with your current plan and want to move to a United HealthCare plan for 2025. I live in Indian Spring and have been a Licensed Insurance Agent since 2008.