Medicare Part A (Hospital Insurance)

Care in hospitals as an inpatient, critical access hospitals (small facilities that give limited outpatient and inpatient services to people in rural areas), skilled nursing facilities, hospice care, and some home health care. Most people get Part A automatically when they turn age 65. They do not have to pay a monthly payment called a premium for Part A because they or a spouse paid Medicare taxes while they were working.

Part A Cost: Most people get Part A automatically when they turn age 65. They do not have to pay a monthly payment called a premium for Part A because they or a spouse paid Medicare taxes while they were working.

​

Medicare Part B (Medical Insurance)

Doctors, services, outpatient hospital care, and some other medical services that Part A does not cover, such as the services of physical and occupational therapists, and some home health care. Part B helps pay for these covered services and supplies when they are medically necessary.

Part B Cost: Medicare beneficiaries pay a monthly Part B premium. The standard Part B premium amount is $121.80 (or higher depending on your income) in 2016. However, most people who get Social Security benefits will continue to pay the same Part B premium amount as they paid in 2015. This is because there wasn't a cost-of-living increase for 2016 Social Security benefits.

​

Medicare Part C (Medicare Advantage Plans)

Medicare Advantage plans are offered by private insurance companies as an alternative to Original Medicare; plans are government subsidized and regulated. Medicare Advantage Plans (also known as Medicare Part C) are health plan options that are part of the Medicare program. If you join one of these plans, you generally get all your Medicare-covered health care through that plan. This coverage can include Medicare Part D prescription drug coverage or you can enroll in a separate Medicare Part D prescription drug coverage plan. Medicare Advantage Plans include:

 

• Health Maintenance Organizations (HMO)

• Preferred Provider Organizations (PPO)

• Private Fee-for-Service (PFFS) Plans

• Special Needs Plans (SNP)

• Medical Savings Accounts (MSA)

​

Medicare Part D (Prescription Drug Coverage)

Medicare Part D is the federal government’s prescription drug program that covers both brand-name and generic prescription drugs at participating pharmacies in your area. The coverage is available to all people eligible for Medicare, regardless of income and resources, health status, or current prescription expenses. Medicare prescription drug coverage provides protection for people who have very high drug costs.

​

Medicare Supplement Insurance (Medigap)

A “Medicare Supplement Insurance” policy (also called Medigap) is private health insurance that’s designed to supplement Original Medicare. This means it helps pay some of the health care costs that Original Medicare doesn’t cover (like copayments, coinsurance, and deductibles). These are “gaps” in Medicare coverage. Note: Medicare doesn’t pay any of the costs for you to get a Medigap policy.