What is Medicare?

01:49

Types of Insurance

Share Video

This video provides an overview of the various parts of Medicare, aiming to simplify a complex topic:

  • Medicare consists of several parts: Parts A, B, C, and D.

  • Part A, often called "Hospital Insurance," covers services related to inpatient hospital care, skilled nursing facility care, nursing home care, hospice care, and more. It can be thought of as the healthcare provided during an extended stay at a healthcare facility.

  • Part B, known as "Medical Insurance," covers medically necessary services and preventive care. This part focuses on outpatient healthcare services, including doctor's visits, preventive visits, home health care, and more.

  • Part C, referred to as "Medicare Advantage," is offered by private insurance companies and combines parts A, B, and sometimes D. These plans provide benefits similar to original Medicare but may include additional services like vision, hearing, and dental coverage, along with potential cost savings.

  • Lastly, Part D is "Prescription Drug Coverage," which helps cover the cost of prescription medications. Participation in Part D is voluntary and designed for those who need prescription drug coverage.

  • While these are the four main components of Medicare, there are many more details and nuances to explore. Seeking additional Medicare education can provide a deeper understanding of this complex area of the healthcare system.