Social Security Q&A

Q.: I will rely on Medicare when I retire. Can you explain the different parts of Medicare?

A.: The different parts of Medicare cover your specific needs. There are 4 parts, all of which work in tandem to deliver healthcare services:

• Part A (hospital insurance): This helps pay for inpatient care in a hospital or skilled nursing facility (following a hospital stay), some home health care, and hospice care.

• Part B (medical insurance): This helps pay for doctors’ and other health care providers services, outpatient care, home health care, durable medical equipment, and many preventative services (such as screenings, shots or vaccines, and yearly wellness visits).

• Part C (Medicare Advantage plans): If you have Medicare Parts A and B, you can join a Medicare Advantage plan. Private companies offer Medicare Advantage plans, which are approved by Medicare. These plans generally help you pay the medical costs not covered by Medicare Part A and B.

• Part D (prescription drug coverage): This helps pay for prescription drugs (including many recommended shots and vaccines).

Q.: I worked for the last 10 years, and I now have my 40 credits. Does this mean that I can get the maximum Social Security retirement benefit?

A.: The 40 credits are the minimum number you need to be eligible for retirement benefits. However, we do not base your benefit amount on those credits, but on your earnings over a lifetime of work. To learn more about how you earn Social Security credits and how they work, read, or listen to our publication How You Earn Credits, available at www.ssa.gov/pubs/EN-05-10072.pdf.