MEDICARE
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WHAT IS MEDICARE?
Original Medicare
Original Medicare refers to Medicare Part A and Medicare Part B, which are managed by the federal government. People can see any doctor that accepts Medicare assignment and the government program pays a significant portion of the cost.
Medicare Part A covers inpatient care in a hospital or skilled nursing facility, although not custodial or long-term care. Part A also helps pay for hospice care and some home health care.
Medicare Part B covers doctor visits and other medically necessary services and supplies. That includes preventive services or health care to prevent illness, as well as ambulance services, durable medical equipment, mental health coverage and a few types of outpatient prescription drugs.
PART D
Medicare Part D, the prescription drug benefit, is the part of Medicare that covers most outpatient prescription drugs. Part D is offered through private companies either as a stand-alone plan, for those enrolled in Original Medicare, or as a set of benefits included with your Medicare Advantage Plan.
MEDICARE SUPPLEMENT
Medicare Supplement plans are sometimes called Medigap plans because they help fill the coverage gaps left by Medicare Part A and Medicare Part B. You must enroll in Original Medicare Parts A and B to purchase a Medicare supplement insurance plan. Most Medigap plans cover some or all of the 20% not covered by Parts A and B.
Private insurance companies sell Medicare Supplement plans. Each plan is required by the Centers for Medicare & Medicaid Services (CMS) to provide the same benefit coverage nationally, but premiums can vary from provider to provider.