Medicare is health insurance for:
- People age 65 or older
- People Under 65 with certain disabilities
- People with end-stage renal disease (ESRD)
The four parts of Medicare are Parts A, B, C and D.
Medicare Parts A & B are often referred to as Original Medicare. Medicare Part C refers to Medicare Advantage plans and Medicare Part D covers prescription drug plans.
Medicare Part A (hospital insurance) helps cover:
- Inpatient hospital care
- Care in a skilled nursing facility
- Hospice care
- Home health care
Medicare Part B (medical insurance) helps cover:
- Care from doctors and other healthcare providers
- Hospital outpatient care
- Home health care
- Durable medical equipment (canes, wheelchairs, oxygen tanks etc.)
- Some preventive services such as Diabetes screenings, Mammograms, flu shots etc.
Medicare Part C (Medicare Advantage plans)
- Run by private insurance companies that are approved by Medicare
- Include all the benefits and services covered under Part A and Part B
- Sometimes cover extra benefits and services at extra costs
- Usually, include a Part D prescription drug plan
With a Medicare Advantage Plan, you get your coverage through the plan and not Original Medicare.
Medicare Part D (Medicare prescription drug coverage)
- Part D helps cover some of the cost of prescription drugs
- Plans are provided by private insurance companies approved by Medicare
If you do not join Medicare Part D when you are first eligible and do not have other creditable coverage, you will pay a late enrollment penalty if you choose to join later.
Medicare Supplement (Medigap)
- Offered by private insurance companies
- Pays some or all of the copayments, coinsurance, and deductibles not covered by Original Medicare
Before choosing to enroll in a Medicare Advantage plan ensure your primary care physician, hospital as well as any specialist you see, are in the plan’s network.
When Medicare covers a service or item, either you or your plan will generally have to pay any deductibles, coinsurance, or copayments.
Unsure of the differences between a Medicare Supplement and a Medicare Advantage plan? Read my article here.
Medicare can be confusing. I will provide you with the information you need to make an informed decision and help you find the plan that will fit your budget and that meets your unique needs.
I make the complex simple by shopping the plans and rates for you. There is never a fee and you are under no obligation to use my services.
I specialize in Medicare products and represent all Medicare Supplement Plan types
Medicare Explained in Plain English