Medicare is the federal health insurance program primarily for people age 65 and older. It also provides coverage for certain younger individuals with qualifying disabilities and people with End-Stage Renal Disease (ESRD) or Amyotrophic Lateral Sclerosis (ALS).
Medicare helps cover many healthcare services, including hospital stays, doctor visits, preventive care, medical equipment, and prescription drugs. While it pays for a significant portion of healthcare expenses, it does not cover every cost. Depending on the type of Medicare coverage you choose, you may still be responsible for premiums, deductibles, copayments, and coinsurance.
Medicare coverage is named by letters because Congress expanded the program over time. Rather than renaming the entire program with each addition, each new type of coverage was assigned a letter.
Here's how the lettering developed:
Medicare Advantage (Part C) is an alternative way to receive your Medicare Part A and Part B benefits through a private insurance company approved by Medicare.
Many Medicare Advantage plans also include additional benefits beyond Original Medicare, such as:
✔ Prescription drug coverage (Part D)
✔ Dental, vision, and hearing benefits
✔ Fitness and wellness programs
✔ Telehealth services
✔ Over-the-counter allowances (on many plans)
Each plan has its own provider network, costs, and benefits, so it's important to compare options available in your area.
Medicare Supplement Insurance (Medigap) is optional insurance that works with Original Medicare (Parts A and B) to help pay certain out-of-pocket costs such as deductibles, copayments, and coinsurance.
Unlike Medicare Advantage, Medigap does not replace Original Medicare. Most beneficiaries with Medigap also enroll in a separate Part D Prescription Drug Plan for prescription coverage.
Many beneficiaries choose Medigap if they want:
The best time to buy a Medigap plan is during your 6-month Medigap Open Enrollment Period. During this one-time window, insurance companies cannot deny coverage or charge you more because of your health. After this period, you may have to answer health questions, and coverage is not guaranteed
If you're considering Original Medicare with a Medigap plan, it's important to compare your options based on your healthcare needs, budget, and preferred providers.
Every person's healthcare needs are different. We can help you compare your Medicare options, explain the differences, and answer your questions—at no cost or obligation.
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