About Medicare and its Parts

• Medicare

• Medicare is a very popular term in the USA, as it is federal health insurance for anyone age 65 and older, and some people under 65 with certain disabilities.
  

• It is a Medicare-approved plan offered by  private insurance  company that offers customized benefit of the plan that may include   Part A, Part B, and  Part D benefits.
• Plans often have different out-of-pocket costs than Original Medicare or supplemental coverage like Medigap. You may also have an additional premium.
  
• Part D (Drug coverage)

• Part D helps cover the cost of prescription drugs. You join a Medicare drug plan in addition to Original Medicare, or you get it by joining a Medicare Advantage Plan with drug coverage.it is generally run by private insurance companies that follow rules set by Medicare.

          Medigap Plan 

• (it is also known as Medicare Supplement Insurance) is a private insurance plan that helps cover some of the out-of-pocket costs not covered by Original Medicare (Part A and Part B). it fills the “gaps” in Medicare, such as deductibles, copayments, and coinsurance. and in most states named by letters, like Plan G or Plan K.You must have Original Medicare (Part A and Part B) to purchase a Medigap plan.

Also read: Underpayment

1. Original Medicare includes Part A(Hospital Insurance) and Part B(Medical Insurance).

• Part A (Hospital Insurance)
• Part A helps cover inpatient care in hospitals, skilled nursing facility care, hospice care, and home health care.
• Part B (Medical Insurance)
• Part B helps cover: Services from doctors and other health care providers, Outpatient care, Home health care, Durable medical equipment (like wheelchairs, walkers, hospital beds, and other equipment)
• Many preventive services (like screenings, shots or vaccines, and yearly “Wellness” visits)

• Part C (Medicare Advantage Plan)

• It is a Medicare-approved plan offered by  private insurance  company that offers customized benefit of the plan that may include   Part A, Part B, and  Part D benefits.
• Plans often have different out-of-pocket costs than Original Medicare or supplemental coverage like Medigap. You may also have an additional premium.
  
• Part D (Drug coverage)

• Part D helps cover the cost of prescription drugs. You join a Medicare drug plan in addition to Original Medicare, or you get it by joining a Medicare Advantage Plan with drug coverage.it is generally run by private insurance companies that follow rules set by Medicare.

          Medigap Plan 

• (it is also known as Medicare Supplement Insurance) is a private insurance plan that helps cover some of the out-of-pocket costs not covered by Original Medicare (Part A and Part B). it fills the “gaps” in Medicare, such as deductibles, copayments, and coinsurance. and in most states named by letters, like Plan G or Plan K.You must have Original Medicare (Part A and Part B) to purchase a Medigap plan.

Also read: Underpayment