If you plan to enroll in a Medicare plan, you may be wondering what the best plan is for you. While there are several Medicare plans options to select from, the best plan for you will depend on your medical and financial situation. Fortunately, 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 choice available to people age 65 or older, as well as individuals receiving disability advantages. When you enroll in Medicare, you can select from a variety of coverage options.

Medicare Part A
Part A covers hospital services, involving emergency room visits, inpatient care, and outpatient services. It also covers house healthcare visits, short-term nursing facility stays, and hospice care.

Medicare Part B
Part B covers general medical services, involving diagnostic, preventive, and treatment services for health conditions. It also covers medical transportation costs.

Medicare Part C (Medicare Advantage)
Part C, also called Medicare Advantage, is offered by private insurance companies. It covers Part A, Part B, prescription drugs, and additional healthcare services, like dental and vision. You must be enrolled in Medicare parts A and B to enroll in Part C.

Medicare Part D
Part D offers additional prescription drug coverage for any medications that are not involved under original Medicare. A Medicare Advantage plan can take the place of Part D. If you do not want Medicare Advantage, Part D is a great alternative.

Medigap
Medigap is a supplemental private insurance choice that can aid pay for Medicare costs, like deductibles, copays, and coinsurance. Medigap is not necessarily an alternative to Medicare Advantage but rather, a cost-effective alternative for those who select not to enroll in Medicare Advantage.

Compare your options
Finding a good Medicare plan involves selecting a plan that fits all your medical and financial requirements.

Traditional Medicare
Traditional Medicare, or original Medicare, consists of Medicare parts A and B. For many Americans, this covers most necessary medical expenses. However, traditional Medicare does not cover prescription drugs, dental, vision, or other services.

Medicare Advantage
While most Advantage plans can cost more upfront, they can also aid to save money in the long run. There’re other factors to consider when selecting whether to enroll in Medicare Advantage.

Other factors to consider
If you’re still wondering what the best Medicare plan is for you or a loved one, you’ll want to consider the advantages and disadvantages of each plan.

These are the main things to consider when selecting the best Medicare plan:

• The type of coverage you already have
• The type of coverage you need
• How often you require medical services
• The prescription drugs you take
• How often you refill your prescription drugs
• Whether you travel often
• How much you can afford to pay each month and year

If you need help calculating costs for plans in your area, visit Medicare.gov and use their 2020 Medicare Plan tool. This can aid you in comparing plan kind, coverage, cost, and more.

The best Medicare plan will cover all the essential medical and financial needs. There are advantages and disadvantages to each Medicare plan option, ranging from cost-effectiveness to provider limitations, and more. If you select Original Medicare with add-ons or you select Medicare Advantage, simply shop around and compare the best Medicare plans.