Medicare
In the United States, Medicare is a single-payer, national social insurance program administered by the U.S. federal government since 1966, currently using about 30-50 private insurance companies across the U.S. under contract for administration.
What's Medicare?
Medicare is the Federal health insurance program for people who are 65 or older, certain younger people with disabilities, and people with
end-stage renal disease (permanent kidney failure requiring dialysis or transplant, sometime called ESRD).
Part A (Hospital Insurance)
Covers inpatient hospital stays, care in a skilled nursing facility, hospice care, and some home health dare.
Part B (Medical Insurance)
Covers certain doctors' services, outpatient care, medical supplies, and preventive services.
Part D (Prescription Drug Coverage)
Adds Prescription drug coverage to Original Medicare.
What's a Medicare Advantage Plan?
You can get your Medicare benefits through Original Medicare or Medicare Advantage Plan. If you have Original Medicare, the government pays
for Medicare benefits when you get them. Medicare Advantage plans called "Part C" or "MA plans", are offered by private insurance companies approved by Medicare. Medicare pays these companies to cover your Medicare benefits. If you join Medicare Advantage Plan, the plan will pay
part A and Part B.
What's a Medicare Supplement Insurance?
A Medicare Supplement Insurance (Medigap) policy sold by private companies, can help pay some of the health care cost that Original Medicare doesn't cover, like copayments, coinsurance, and deductibles.