There are different types of Medicare covering different types of health care services
Medicare Insurance is categorized into four parts-Part A, Part B, Part C and Part D.
1) Hospital Insurance (Part A) that helps to cover inpatient care in the hospital, skilled nursing facility, facility care, home health care, hospice care and blood.
2) Medical Insurance (Part B) that helps to cover doctors services, outpatient hospital and emergency room, home health care, durable medical equipments, clinical laboratory and many other services.
3) Medicare Advantage Plans (Part C) combines Medicare Part A (Hospital insurance) and Medicare Part B (Medical insurance) and also sometimes Medicare Part D (Medicare Prescription Drug Coverage).
4) Medicare Prescription Drug Coverage (Part D) helps to cover prescription drugs and hence reduces the expenses of prescription drugs.
Medicare Part A is free mostly to all people without premium. The payment schedules are usually decided by Medicare. The organization providing health care is not permitted to charge more than the approved amount by Medicare. Some people have Part A and some have both Part A and Part B. Original Medicare compensates the payment for visit to any hospital, clinic or health care provider accepting Medicare services. The approved share is paid by Medicare and the remaining cost has to be bared by the person.