If you’re planning to enroll in a Medicare plan this year, you may be wondering what the best plan is.
While there are a number of Medicare plan options to choose from, the best plan for you will depend on your medical and financial situation. Luckily, you can compare the advantages and disadvantages of each Medicare offering to find a plan that works well for you.
What is Medicare?
Medicare is a government-funded insurance option available to people age 65 or older, as well as individuals receiving disability benefits. When you enroll in Medicare, you can choose from a variety of coverage options.
Medicare Part A
Part A covers hospital services, including emergency room visits, inpatient care, and outpatient services. It also covers home healthcare visits, short-term nursing facility stays, and hospice care.
Medicare Part B
Part B covers general medical services, including preventive, diagnostic, and treatment services for health conditions. It also covers medical transportation costs.
Medicare Part C (Medicare Advantage)
Part C, also known as Medicare Advantage, is offered by private insurance companies. It covers Part A, Part B, prescription drugs, and additional healthcare services, such as dental and vision. You must be enrolled in Medicare parts A and B to enroll in Part C.
Medicare Part D
Part D helps cover prescription drug costs and is used as an add-on to traditional Medicare.
Medigap helps cover additional medical costs and is also used as an add-on to traditional Medicare.