There are the four general parts of Medicare: A, B, C, and D. Then you have the 10 types of Medicare supplementplans: A, B, C, D, F, G, K, L, M, and N.
As confusing as that might seem, it's important to take the time to educate yourself. Medicare’s parts and supplement plans cover different things. They have different costs; participating doctor and hospital networks; availability; and other rules. You'll most likely be enrolled in multiple parts and/or plans at the same time. Getting familiar with them lets you choose the best health insurance for your needs.
Medicare Parts A and B are run by a federal agency called the Centers for Medicare and Medicaid Services. Together, these two parts are known as Original Medicare. With Original Medicare, you can see any doctor or hospital anywhere in the country -- as long as they participate in the program and are accepting new Medicare patients. If you see a non-participating doctor, your out-of-pocket expenses go up.
Hospice care when doctors certify that you're expected to die within 6 months
If not, you can buy coverage. Your premium amount varies, depending on how long you paid Medicare taxes while you worked. You'll also pay a deductible. After that, you're responsible for a share of costs (this is called coinsurance).
While Part A is meant for inpatient care, don't make the mistake of thinking that it will pay for assisted-living care or long-term care that wasn't ordered by your doctor.
"Durable" medical equipment like walkers or oxygen tanks
If you want extra services like those -- and are willing to pay more to get them -- Part C, or a Medicare Advantage plan, may be for you.
These plans are basically another way to get your Medicare benefits. They're sold by private insurance companies that are approved by Medicare.
Most also offer the prescription drug coverage you'd otherwise get through Medicare Part D (more on that later).
Some Medicare Advantage plans also charge monthly premiums. If you enroll in one of these, you may pay that on top of your Part B premium. Some plans, though, cover all or part of your Part B premiums. You might hear this called the "give-back benefit."
Maybe you don't want to sign up for a Medicare Advantage plan, or the plans in your area don't offer the kind of drug coverage you need. You’ve got one more option to explore: a private insurance company’s Part D plan.
Drug coverage is optional. But if you don't sign up for Part D when you first enroll in Medicare, you may pay penalties for joining later on.
If you get drug coverage through your Medicare Advantage plan, you don't need a separate Part D plan.
There are 10 Medigap plans, which vary in what and how much they cover. Each is identified by a letter: A, B, C, D, F, G, K, L, M, and N. They're standardized, which means a Plan A offered by one company has the same benefits as a Plan A sold by another one. Your premiums may differ, though. To find out what benefits are offered under each plan, go to the Medicare website.
You'll still pay your Part B premiums, along with your Medigap premiums.
Those sold to people who are newly eligible for Medicare don't cover Part B deductibles. New enrollees haven't been allowed to buy C or F Medigap plans since Jan. 1, 2020.
The best time to buy one is when you're first eligible. You'll likely face fewer choices and higher prices if you try to get one later on.
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U.S. Centers for Medicare and Medicaid Services: “How Original Medicare works,” “How do Medicare Advantage Plans work?” "Costs for Medicare Advantage plans," “Different Types of Medicare health plans,” “Other Medicare health plans,” “What Part A covers,” “Inpatient hospital care,” “Skilled nursing facility (SNF) care,” “Hospice care,” “Home Health Services,” “Top 5 things you need to know about Medicare Enrollment,” “How do I get Parts A & B?” “Medicare Costs at a Glance,” “What’s not covered by Part A & Part B?” “What Part B covers,” “Ambulance service,” “Prescription drugs (outpatient),” “What is Medicare Part C?” “Medicare Advantage Plans,” “Drug coverage (Part D),” “What Medicare Part D drug plans cover,” “How Medicare works with other insurance,” “What’s Medicare Supplement Insurance (Medigap)?” “How to compare Medigap policies,” “Find a Medigap policy that works for you,” "When can I buy Medigap?"
U.S. Department of Health and Human Services: “What is Medicare Part C?”