The Four Parts of Medicare Coverage
Medicare Alphabet Plans
The Medicare alphabet plans include parts A through D of Medicare. Part A is your hospital coverage. It will help cover costs associated with a visit to the hospital. Part B helps to pay for doctor visits and is known as medical insurance. Part C plans are generally Medicare Advantage plans. Advantage plans group parts A and B with other benefits such as vision coverage or even a gym membership. Part D covers prescription drugs. A part D plan can exist as a stand-alone plan or as part of a Part C Advantage plan depending on your particular needs.
Medicare Supplement Plans
The second type of Medicare Insurance Plan is what is known as a Supplement plan. A Supplement plan doesn’t offer different benefits from the Medicare alphabet options but rather gives you a few different options for payment. Supplement plans take care of the co-pay for your normal Medicare-covered benefits in exchange for a monthly premium. In many cases, Supplement plans can save beneficiaries a significant amount of money on medical services.