PART A - Hospital Insurance
Part A covers inpatient hospital stays, skilled nursing facilities, hospice care, and some home health care. You may pay premiums for Part A, but the amount can vary.
PART B - Medical Insurance
Part B covers certain doctors’ services, outpatient care, medical supplies, and preventive services. Based on your situation, there may be a late enrollment penalty if you don’t sign up for Part B when you’re first eligible. You may pay premiums for Part B, but the amount can vary.
PART C - Medicare Advantage
This brings all your health care coverage under one plan, managed by a private insurance company. Most Medicare Advantage plans also include drug coverage. Your premium may vary depending on the plan you choose.
PART D - Prescription Drug Coverage
You can sign up for Part D with Original Medicare or in combination with some other Medicare-related plans. It’s optional, and the amount you pay for your premium may vary.
Medical Supplement - Sometimes called "Medigap"
It helps pay for some of the costs that Original Medicare doesn’t cover, such as copayments, coinsurance, and deductibles. It’s sold by private insurance companies. You pay another monthly premium for a supplement plan, in addition to your premium for Parts A and B.