Basics of Medicare
As you approach Medicare age, there’s a lot to think about. Once you turn 65, you can enroll in Original Medicare Parts A and B. Original Medicare helps pay some of the cost for hospital stays and doctor’s visits, but it doesn’t cover everything.
That’s where Alight comes in. Through Alight, you can shop for Medicare plans and get personalized, unbiased guidance, making sure you find the best plan to meet your needs.
Types of Plans
There are three main types of Medicare plans: Medicare Advantage, Medicare Supplement, and prescription drug plans.
Medicare Advantage
Also known as Part C, Medicare Advantage plans cover the same services as Original Medicare Parts A and B and often includes prescription drug coverage. Some plans offer additional benefits like dental, vision and hearing care. These plans can be a good value if you’re looking for all-in-one medical and drug coverage with low or $0 premiums.
Medicare Supplement
Sometimes called Medigap, Medicare Supplement plans help pay some of the out-of-pockets costs that aren’t covered by Original Medicare, like copays, coinsurance and deductibles. With this option, most people buy two separate plans — a Medicare Supplement plan for medical expenses and a prescription drug plan for medications.
Prescription drug plan
Having a prescription drug plan (also called Part D) provides protection against high drug costs. You can add a prescription drug plan to your Original Medicare plan or combine it with a Medicare Supplement plan.
Medicare Open Enrollment
Once you’re enrolled in Medicare, you can relax and enjoy the benefits of your health plan. But every year, during the Medicare open enrollment period October 15-December 7, you should reevaluate your plan and make sure it still fits your needs.
Even if you’re happy with your current plan, it's a good idea to look into any changes coming next year and compare it with other available plan options. You could even find plans that save you money!