The ABCs of Medicare

Medicare* health insurance is broken out into different sections, called “Parts.” Each of the parts of Medicare help to cover costs for specific services.

Medicare Part A

Medicare Part A is also referred to as “Hospital Insurance” and is part of what is referred to as Original Medicare. Part A covers:

• Inpatient care in a hospital
• Skilled nursing facility care
• Nursing home care (inpatient care in a skilled nursing facility that’s not custodial or long-term care)
• Hospice care
• Home health care

Medicare Part B

Medicare Part B is also referred to as “Medical Insurance” and is part of Original Medicare. Part B offers you affordable access to two types of services:

• Medically necessary services
• Preventive services

Medicare Part C

Medicare Part C is also referred to as “Medicare Advantage.” Part C is essentially an alternative to original Medicare. Through Medicare Advantage, you obtain benefits through private health insurance providers. These plans typically bundle the benefits of Medicare Parts A, B, and usually D, plus a few other added benefits as well.

Medicare Part D

If you take any type of prescription drugs, Medicare Part D will help pay for the cost of your medicine. Part D covers prescription drug coverage through private health insurance companies with contracts with the government to offer this service.

Medicare Supplements

Medicare Supplement plans, also called Medigap, helps fill in the “gaps” that Original Medicare doesn’t cover. To purchase a Medicare supplemental policy, you must first enroll in Medicare Part A and Part B. These plans are sold by private insurance companies and may help cover additional costs such as copayments and deductibles.

Original Medicare vs. Medicare Advantage

You have the choice of how to enroll in your Medicare health insurance coverage. There are two main ways for you to receive Medicare benefits: Original Medicare and Medicare Advantage.

• Original Medicare includes both Part A (hospital insurance) and Part B (medical insurance). If you’re looking to include prescription drug coverage, you can also enroll in Part D.
• Medicare Advantage, also known as Medicare Part C, is an alternative to Original Medicare that bundles Part A, B, and usually D and is purchased through a private insurance carrier. Most plans also offer additional benefits, such as dental and vision coverage.

Each individual’s situation is unique, so it’s entirely up to you and your needs when it comes to choosing how to receive your Medicare coverage. But keep in mind, your choice affects how much you pay for coverage, the quantity and quality of the services you receive, and the doctors that are available within your network.

Do you have questions about your Medicare coverage options? LIG can help! LIG is your resource for all health coverage needs – we have the solutions, with no added costs.

Call 866-230-0222 to be connected to a LIG licensed agent today.

*Disclaimer: Medicare is available to some individuals under the age of 65 in limited circumstances. LIG Solutions is not affiliated with the U.S. government or federal Medicare program. LIG Solutions complies with applicable federal civil rights laws and does not discriminate on the basis of race, color, national origin, age, disability, or sex.

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