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Medicare Confidence Through Every Stage of Retirement

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Medicare Basics: What You Need to Know

As you approach age 65 or plan for retirement, understanding your Medicare options is key to protecting your health and your wallet. Medicare covers millions of Americans, but it’s not one-size-fits-all. Choosing the right plan helps you avoid unexpected costs and coverage gaps.

  • Medicare is a federal health insurance program for:

    • People 65 and older

    • People under 65 with certain disabilities

    • People with End-Stage Renal Disease (ESRD) or ALS

    It’s made up of different parts, each covering specific healthcare needs.

  • Part A – Hospital Insurance
    Covers hospital stays, skilled nursing care, hospice, and limited home health services.
    Cost: Usually free if you or your spouse paid Medicare taxes while working.

    Part B – Medical Insurance
    Covers doctor visits, outpatient care, preventive services, and medical equipment.
    Cost: Monthly premium (based on income), plus a deductible and coinsurance.

    Part C – Medicare Advantage
    An all-in-one alternative to Original Medicare, offered by private insurers. Most plans include:

    • Part A and B coverage

    • Prescription drug coverage

    • Extras like dental, vision, and hearing (varies by plan)
      Note: Often lower costs when using in-network providers.

    Part D – Prescription Drug Coverage
    Helps pay for medications. Available as a standalone plan with Original Medicare or included in many Medicare Advantage plans.
    Cost: Varies by plan (premium, deductible, and copays).

  • Medigap (Medicare Supplement Insurance) helps cover out-of-pocket costs like copays, coinsurance, and deductibles.

    • Only works with Original Medicare (not Advantage plans)

    • Sold by private insurance companies

    • Healthcare Costs Add Up
       Medicare doesn’t cover everything. The right plan can help reduce expenses for doctor visits, hospital care, and prescriptions.

    • Fill the Gaps
       Services like dental, vision, hearing, and long-term care aren’t covered by Original Medicare. Advantage plans or Medigap policies may help.

    • Protect Your Savings
       Health issues can lead to large medical bills. Coverage that includes prescriptions or supplements your plan can ease the financial strain.

    • Customize for Your Needs
       Medicare offers options so you can build a plan that fits your health and budget.

    • Get Preventive Care
       Screenings and wellness visits are included with Part B and Advantage plans, helping you stay ahead of health issues.

Medicare Basics: What You Need to Know

As you approach age 65 or plan for retirement, understanding your Medicare options is key to protecting your health and your wallet. Medicare covers millions of Americans, but it’s not one-size-fits-all. Choosing the right plan helps you avoid unexpected costs and coverage gaps.

Need Help Navigating Medicare?

Choosing your coverage is a big decision. Whether you prefer Original Medicare with added coverage or a Medicare Advantage plan, we’re here to help.

Call our office to schedule a free consultation with one of our licensed agents. We’ll walk you through your options and help you find a plan that fits.

Licensed Insurance Agency

Medicare has neither reviewed nor endorsed this information. Our agency is not connected with or endorsed by the U.S. government or the federal Medicare program. We do not offer every plan available in your area. For information on all your options, visit Medicare.gov or call 1-800-MEDICARE.