Medicare covers many aspects of medical care. However, it can be confusing to distinguish among Parts A, B, C, and D. A PhRMA article discusses each component of Medicare coverage, noting that Part A covers hospital care while Part B covers outpatient care. Part C is a managed care option and Part D covers prescription medication that is purchased at a pharmacy or via mail order. Some proposed changes to these Medicare components could streamline healthcare access and reduce costs.
“While Medicare’s coverage of medicines has worked well for seniors and people with disabilities, we know there are ways it could work better. That’s why we put forth a number of solutions that could lower out-of-pocket costs for Medicare beneficiaries. In Part D, for example, policymakers could cap annual out-of-pocket costs, lower cost sharing and make out-of-pocket costs more predictable. They could also make sure savings from rebates and discounts pharmaceutical manufacturers negotiate with Part D health insurance plans are shared with seniors and patients with disabilities at the pharmacy counter.” Read more here.
(Source: Gabby Migliara, PhRMA, 5/13/21)