Medicare & You Handbook.
This is the OFFICIAL U.S. GOVERNMENT HANDBOOK for MEDICARE.
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What is Original Medicare?
Do You need to Upgrade your Medicare Insurance?
For years, there wasn't much to consider when it came to Medicare. You could sign up for Part A, which covers health care providers, and you could add Part B for prescription cost insurance. While you can still go about your Medicare insurance this way, it isn't always the correct path. This is because there are other products that you may want to add or use instead.
One of the oldest additions to this system is Medigap insurance. This coverage takes care of any amounts left owing after Medicare insurance has done its part. It typically covers deductibles and copays. Since the copay for a serious health condition can easily reach tens of thousands of dollars, it's worth it if you think that you are at high risk for such a health issue.
A newer option is Medicare Advantage, or Part C coverage. This is a plan that combines Parts A and B to provide a comprehensive package. One of its main benefits is that it streamlines things so that you don't have to remember which insurance covers what.
If all of this seems confusing, there's no need to worry. A Medicare insurance advisor can talk to you to learn your individual needs, and then suggest the best plan for you. Your advisor can also help you make changes as needed to keep up with changes in your life. For example, many people are fine with starting out with the most basic form of Medicare, but as they get older, it can be worth it to add the prescription benefit. Your Medicare insurance advisor can let you know when this is a good idea.