Medicare

In general, Medicare Part A helps pay for inpatient care you get in hospitals, critical access hospitals, and skilled nursing facilities. It also helps cover hospice care and some home health care.

Medicare Part B (Medical Insurance) helps cover 2 types of services:

• Medically necessary services: Services or supplies that meet accepted standards of medical practice to diagnose or treat your medical condition.

• Preventive services: Health care to prevent illness (like the flu) or detect it at an early stage when treatment is likely to work best.

You pay nothing for most preventive services if you get the services from a health care provider who accepts 

assignment.

A Medicare Advantage Plan (like an HMO or PPO) is another Medicare health plan choice you may have as part of Medicare. Medicare Advantage Plans, sometimes called “Part C” or “MA Plans,” are offered by private companies approved by Medicare.

If you join a Medicare Advantage Plan, the plan will provide all of your Part A (Hospital Insurance) and Part B (Medical Insurance) coverage. Medicare Advantage Plans may offer extra coverage, such as vision, hearing, dental, and/or health and wellness programs. Most include Medicare prescription drug coverage (Part D).

Medicare drug coverage

 (also known as Medicare Part D) helps pay for the brand-name and generic drugs you need. It's optional and offered to everyone with Medicare by insurance companies and other private companies approved by Medicare. Even if you don’t take prescription drugs now, consider getting Medicare drug coverage to avoid paying a 

late enrollment penalty

 if you join a plan later.

Supplements (Medigap) are extra private policies that help pay your out-of-pocket costs like copays, coinsurance, and deductibles left over by Original Medicare.

• Standardized benefits: Policies with the same letter (Plans A through N) offer the exact same basic coverage no matter which private company sells them, though prices vary.

• No network restrictions: You can visit any doctor or hospital in the U.S. that accepts Medicare.

• No prescription drugs: Medigap plans do not cover outpatient prescription drugs; you must buy a separate Medicare Part D plan for medications.

Popular Plan Options

• Plan G: Covers almost all out-of-pocket costs except the annual Part B deductible; very popular and comprehensive.

• Plan N: Offers lower monthly premiums but requires small copayments for some office and emergency visits.

• Plan F: Covers all remaining costs, but is only available if you were eligible for Medicare before January 1, 2020.

Medicare Advantage plans provide Medicare coverage through private health insurance companies approved to participate in the Medicare program. These plans can be HMOs, PPOs, Regional PPOs or Private Fee-for-Service plans.

Medicare Advantage plans provide all Part A and Part B (Original Medicare) services while including some additional services, such as wellness programs, hearing aids and vision services. These plans also tend to have lower cost sharing overall and maximum out of pocket costs for each calendar year — a feature not available through Original Medicare.