What Is Medicare

What is Medicare?

About Medicare

According to Medicare.gov – Medicare is the federal health insurance program for people who are 65 or older, certain younger people with disabilities, and people with End-Stage Renal Disease (permanent kidney failure requiring dialysis or a transplant, sometimes called ESRD).

Medicare Part A

(Hospital Insurance)

Medicare Part B

(Medical Insurance)

Medicare Part C

(Medicare Advantage Plans)

Medicare Part D

(Prescription Drug Coverage)

Medicare Supplements (Medigap Insurance)

If you would like more detailed information on these and other Medicare topics, please download your copy of the Medicare Blueprint. We wrote the book so that you will have just what you need to make an informed decision on your Medicare choices.

There are different "parts" to Medicare

A
Medicare Part A - Hospital Insurance

Part A covers the expenses you have if you’re in the hospital. In most cases, you don’t pay premiums for Part A

B
Medicare Part B - Medical Insurance

Part B covers many outpatient expenses. You have to purchase Part B coverage.

C
Medicare Part C - Medicare Advantage Plans

Part C is an alternative to “Original Medicare,” which is what we just described in Part A & B. Part C includes a range of health plans that are administered by private insurance companies but paid for (in part) by Medicare. This is also known as “Medicare Advantage,” and by law, such plans must cover all the same services that would normally be coverage by Parts A & B (but may also offer additional benefits).

D
Medicare Part D - Prescription Drug Plans

Part D is insurance for outpatient prescription drugs. These plans (sometimes called “PDPs”) add drug coverage to Original Medicare and may be included in Part C Medicare Advantage Plans.

Medicare Supplements

Medigap Insurance

A Medicare Supplement Insurance (Medigap) policy, sold by private companies, can help pay some of the health care costs that Original Medicare doesn’t cover, like copayments, coinsurance, and deductibles.

Some Medigap policies also offer coverage for services that Original Medicare doesn’t cover, like medical care when you travel outside the U.S.

If you have Original Medicare and you buy a Medigap policy, Medicare will pay its share of the Medicare-approved amount for covered health care costs. Then your Medigap policy pays its share.