Do you know what Medicare is? It is the US federal public health insurance for older people and disabled people. Many of us do not realise that there are over forty million Medicare beneficiaries.

With such huge population of Americans being served by the federal health insurance plans, it is understandable that there are a lot of choices available to recipients these days. There is no way to pick one best plan for everybody.

Before you make a choice, try to understand the basics. The original Medical included parts A and B. These are hospital and medical coverage plans. But they do not cover everything. A beneficiary must also pay copays and deductibles. So expect some out of pocket expenses.

For an extra premium, a beneficiary could purchase a medicare supplement plan. Health insurance companies sell these to cover deductibles and copays.

A new option is called MA (Medicare Advantage). Some people still refer to it as Medicare Part C, but this is a little misleading. The plans do not supplement the original plan. Instead, members will find these plans work alone to provide health coverage. They are partially funded by tax money that would have funded that person’s Part A and B.

Do not confuse MA with supplements. Supplements add benefits to Part A and B. MA plans replace them. They are required to provide benefits as good as, or better than, the original Part A and B.

Part D is the newest option. This refers to a variety of prescription health plans on the market. They are sold by private insurers, but still partially funded with tax money. These are the new prescription drug plans.

So which plan is right for you? That choice depends upon your own situation, budget, and needs. It is important to understand how they work so you can make the best choice.

Visit us to Compare Medicare plans. You can learn more about the basics so you can make a good choice for you!