Medicare 101 Series
Medicare · 101
The 4 Parts of Medicare,
Explained Simply
Turning 65 should be simple. Medicare makes it complicated. Most people don't realize Medicare has four separate parts, each covering different things — and skipping any of them can cost real money down the line.
Here's the plain-English version.
Initial Enrollment Period
3 months before, the month of, and 3 months after your 65th birthday. Miss it and you pay a late-enrollment penalty for the rest of your life.
Part A — Hospital Coverage
Covers inpatient hospital stays, skilled nursing after a hospital visit, and hospice. Most people get this free if they (or their spouse) worked at least 10 years and paid Medicare taxes. No monthly premium for most — but there's a deductible per hospital stay.
Part B — Doctor Visits + Outpatient
Covers doctor visits, outpatient procedures, lab tests, preventive screenings, and durable medical equipment. Has a monthly premium (around $175 in 2025 for most, more for higher incomes). You'll pay 20% of most costs after the deductible.
Part C — Medicare Advantage
A bundled alternative to A + B (and usually D), run by private insurers approved by Medicare. Typically includes dental, vision, hearing, and often gym memberships — coverage Original Medicare doesn't offer. Uses its own network of doctors with different cost structures. Not better or worse — different.
Part D — Prescription Drugs
Covers prescriptions. Bought from a private insurer with a monthly premium. Skipping Part D when first eligible costs you a lifetime late-enrollment penalty — usually 1% per month you went without it.
What Original Medicare (Parts A + B) Doesn't Cover
Original Medicare leaves real gaps. The good news: most of these are covered by Medicare Advantage (Part C) — which is one of its main draws. Staying on Original Medicare? A Medigap (Supplement) plan can help fill some of these gaps.
Your 7-Month Enrollment Window
The 3 months before your 65th birthday, your birthday month, and the 3 months after.
Miss this window and you may face penalties that follow you for the rest of your life.
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Educational content only. Not financial advice. Consult a licensed advisor for your specific situation.