What Are the Three Types of Medicare?
Original Medicare (Parts A & B) provides hospital insurance and medical insurance for people who have paid into the Medicare program while working. Part A covers inpatient hospital care, hospice care, and some home health services.
Part B offers a wide range of doctors’ services, outpatient care, medical supplies and preventive services. Typically, people who have Part B pay a monthly premium and may be required to meet deductibles or co-payments for certain Medicare services.
Medicare Advantage is a kind of plan that offers all the benefits of Original Medicare medicareknowledge.wordpress.com through private companies that contract with the Centers for Medicare & Medicaid Services. Advantage plans must offer at least the same coverage as traditional Medicare, but can have different rules, costs, and coverage restrictions that affect how and where you get your care.
Some Medicare Advantage plans are HMOs, which means you get all your care from a network of hospitals and providers. Other Advantage plans are PPOs, which allow you to go outside the network for treatment, if you choose.
Many people with Medicare receive supplemental insurance, called Medigap. This type of coverage fills in the gaps left by Medicare’s high deductibles, cost-sharing requirements and lack of an annual out-of-pocket limit for Medicare Parts A and B. If you have questions about your options or want to learn more about Medicare and Medigap, contact a neutral advisor who can guide you through the process.