Medicare

1. Medicare Part A: Medicare Part A covers inpatient hospital stays, care in skilled nursing facilities, hospice care, and certain home health care services. Most people don’t pay a premium for Part A if they’ve paid Medicare taxes while working. However, there may still be out-of-pocket expenses such as deductibles and coinsurance.

Key Benefits of Part A: Inpatient hospital care, including surgeries and treatments
Skilled nursing facility care after a hospital stay
Home health care in specific situations
Hospice care for end-of-life comfort and care needs
2. Medicare Part B: Medical Insurance Medicare Part B provides coverage for doctor visits, outpatient care, preventive services, and certain medical supplies. While there is a monthly premium associated with Part B, it’s essential for covering routine medical services that keep you healthy and manage ongoing conditions.

Key Benefits of Part B: Visits to doctors and specialists
Outpatient services such as lab tests, X-rays, and physical therapy
Preventive services like flu shots, cancer screenings, and annual wellness exams
Durable medical equipment such as wheelchairs and walkers
3. Medicare Advantage (Part C) Medicare Advantage plans, also known as Part C, are an alternative to Original Medicare (Parts A and B). These plans are offered by private insurance companies and often include additional benefits like dental, vision, hearing, and even prescription drug coverage. Medicare Advantage plans offer a bundled solution that covers hospital care, medical services, and more under one plan.

Key Benefits of Medicare Advantage: Comprehensive coverage with hospital and medical services, and often additional perks
Dental, vision, and hearing benefits
Prescription drug coverage included in many plans
Low or no monthly premiums in some cases
Annual out-of-pocket maximum to protect you from high medical costs
4. Medicare Part D: Prescription Drug Coverage
Medicare Part D helps cover the cost of prescription medications, ensuring you have access to the medications you need to stay healthy. You can enroll in a standalone Part D plan or choose a Medicare Advantage plan that includes prescription drug coverage.

Key Benefits of Part D: Reduces the cost of prescription drugs
Covers both generic and brand-name drugs
Wide network of participating pharmacies
Helps prevent unexpected high out-of-pocket medication costs
5. Medicare Supplement Insurance (Medigap) Medicare Supplement Insurance, also known as Medigap, helps cover some of the out-of-pocket costs not covered by Original Medicare (Parts A and B). Medigap policies help with deductibles, copayments, and coinsurance, giving you peace of mind and reducing your financial burden.

Key Benefits of Medigap: Helps cover costs that Original Medicare doesn’t, like copayments and deductibles
Freedom to see any doctor who accepts Medicare
Standardized plans, so the benefits are the same no matter which insurance company you choose Can travel across the U.S. and still be covered