Medicare Part A and Part B
Medicare, Parts A and B (sometimes known as “Original Medicare”), is run by the federal government. With Medicare Parts A and B, the government pays fees for your health care directly to the doctors and hospitals you visit.
With Parts A & B, Medicare covers 80% of the costs for your health care costs, after the deductibles have been met. The outstanding 20% (more if your doctor charges more) is covered by you. For this reason, most people opt for purchasing a Medicare Supplement Plan where, in most cases, their costs will be $0. Some people who are not concerned about limited selection of providers prefer to purchase a MedicareAdvantage plan which puts all their medical services under 1 umbrella. Some of these MedicareAdvantage plans include prescriptions and other do not, so you may need a purchase a separate Prescription Drug Plan (PDP).