Medicare Glossary

Medicare Part A

Hospital insurance. Covers inpatient hospital stays, skilled nursing facility care, hospice care, and some home health care. Most people don't pay a monthly premium for Part A if they or their spouse worked and paid Medicare taxes for at least 10 years.

Also known as: Hospital Insurance

Medicare Part B

Medical insurance. Covers most doctor services, outpatient care, preventive services, home health care, and durable medical equipment. You pay a monthly premium for Part B (adjusted based on income for higher earners).

Also known as: Medical Insurance

Medicare Savings Program

State programs that help people with limited income pay Medicare premiums, deductibles, copays, and coinsurance. The four types are QMB, SLMB, QI, and QDWI, each with different income and eligibility thresholds.

Also known as: MSP

Medicare SELECT

A type of Medigap policy that requires you to use specific hospitals and, in some cases, specific doctors (except in emergencies) to get full benefits. In exchange, premiums are typically lower than standard Medigap plans.