Medicare Part A: Covers inpatient hospital care, skilled nursing facility care, hospice care, lab tests, surgery, and home health care costs.
Medicare Part B: Covers doctor visits and other health care providers' services and outpatient care. Part B also covers durable medical equipment, home health care, and some preventive services.
Medicare Part C: Also called Medicare Advantage, Part C includes both Part A (Hospital Insurance)and Part B (Medical Insurance).This is private insurance provided by companies that have been approved by Medicare. You may need to use health care providers who participate in the plan’s network (much like a PPO or HMO). If you choose Part C, you can’t buy or use separate supplemental coverage.
Medicare Part D: Offers prescription drug coverage.
Medigap: A Medicare Supplement Insurance (a.k.a. Medigap) policy helps pay some of the health care costs that Original Medicare doesn't cover, like copayments, coinsurance and deductibles. Medigap policies are sold by private companies and subject to their costs and limits.
Out-of-pocket: Anything not covered above, such as remaining copays or deductibles.