What is Medicare?
Medicare is the federal health insurance program for people aged 65 and older, as well as certain younger people with disabilities. Understanding its four parts is essential to getting the coverage you need.
Part A: Hospital Insurance
Medicare Part A covers inpatient hospital stays, skilled nursing facility care, hospice care, and some home health services. Most people don't pay a premium for Part A if they or their spouse paid Medicare taxes for at least 10 years.
Part B: Medical Insurance
Part B covers doctor visits, outpatient care, preventive services, and medical equipment. The standard Part B premium for 2026 is set by Medicare and is deducted from your Social Security benefits.
What Part B Covers
- Doctor and specialist visits
- Lab tests and X-rays
- Preventive screenings
- Outpatient surgery
- Durable medical equipment
Part C: Medicare Advantage
Medicare Advantage plans are offered by private insurance companies as an alternative to Original Medicare (Parts A and B). These plans must cover everything Original Medicare covers and often include additional benefits like dental, vision, and hearing coverage.
Part D: Prescription Drug Coverage
Part D plans help cover the cost of prescription medications. These plans are offered by private insurers and vary in which drugs they cover (formulary), what pharmacies you can use, and how much you'll pay.
Choosing the Right Medicare Coverage
Your ideal Medicare setup depends on your health needs, preferred doctors, medications, and budget. Consider working with a licensed Medicare advisor who can help you compare options in your area at no cost.