Parts A and B of Medicare are collectively known as what?

Parts A and B of Medicare are collectively referred to as Original Medicare. This designation includes Part A, which covers inpatient hospital services, skilled nursing facility care, hospice, and some home health care, and Part B, which covers outpatient services, preventive services, and some home health care as well. Original Medicare serves as the foundational program for those aged 65 and older, as well as certain younger individuals with disabilities.

This terminology differentiates it from other programs such as Medicare Advantage, which is a type of Medicare plan that offers an alternative way to receive benefits, typically through private insurance plans. Medicare Supplement, on the other hand, refers to additional insurance that helps cover the costs that Original Medicare does not, such as co-payments, coinsurance, and deductibles. Medicaid is a completely separate program designed to provide health coverage for low-income individuals and families, often in conjunction with Medicare for those eligible for both.

By understanding these distinctions, one can better navigate the complexities of Medicare and related programs, reinforcing the importance of recognizing Original Medicare as the core structure around which many other options are built.