Medicare is divided into 4 parts. In addition to Medicare Parts A, B, C, and D, there is also Medigap (or Medicare Supplement) insurance.
Medicare Part A is hospital insurance. Also referred to as original Medicare. It covers inpatient hospital care, skilled nursing facility or nursing home care, hospice, and home health services. There is no premium for Part A coverage if you or your spouse has earned at least 40 Social Security work credits.
Medicare Part B is medical insurance. It covers preventive care, doctor’s visits, and outpatient services.
Medicare Advantage (Part C) is a program in which private insurance plans are paid by the federal government to provide coverage that is equivalent to Medicare. It is a substitute for original Medicare and combines Part A, Part B, and sometimes Part D coverage.
Medicare Part D is prescription drug insurance. Part D plans are private insurance plans covering prescription medications.
Medigap plans or Medicare Supplements are private plans used to supplement traditional Medicare and help pay out-of-pocket expenses and other things not covered by Medicare, for example, copayments, coinsurance, and deductibles.
Medigap is optional but strongly recommended.
Call us today if you need more information regarding Medicare or Medigap insurance – 703-707-8270.
