What Medicare Is and Who It Serves Medicare is the federal health insurance program for people aged 65 and older, as well as certain younger individuals with disabilities or specific conditions like End-Stage Renal Disease. In 2026, it continues to serve as the primary health coverage for over 60 million Americans. The program is divided into distinct “parts,” each covering different services.
Medicare Part A: Your Hospital Insurance covers inpatient care in hospitals, skilled nursing facility care following a hospital stay, hospice care, and some home health services. For most beneficiaries, there is no monthly premium for Part A if they or their spouse have at least 40 quarters of Medicare-covered employment. However, cost-sharing does apply when you use services. The 2026 Part A inpatient hospital deductible is $1,736 per benefit period Source: CMS.
Medicare Part B: Your Medical Insurance covers outpatient care, doctor visits, preventive services, durable medical equipment, and ambulance services. Unlike Part A, Part B requires a monthly premium. The standard monthly premium for 2026 is $202.90. You must also meet the annual Part B deductible of $283 before coverage begins for most services Source: CMS.
Medicare Part C: The Medicare Advantage Alternative, also known as Medicare Advantage, allows private insurance companies approved by Medicare to provide your Part A and Part B benefits. These plans often include additional benefits like prescription drug coverage (Part D), along with dental, vision, or hearing services.
Medicare Part D: Your Prescription Drug Coverage is optional insurance to help pay for outpatient prescription medications. You can get Part D by joining a stand-alone Prescription Drug Plan (PDP) to add to Original Medicare, or by selecting a Medicare Advantage plan that includes drug coverage (MA-PD).
Where to Find Official Plan Information The definitive source for comparing all Medicare Advantage and Part D plans available in your area is the federal government’s Medicare Plan Finder tool at Medicare.gov/plan-compare. This tool allows you to input your medications and preferred pharmacies to see exact costs.
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