Medicare Part A covers inpatient hospital care, while Medicare Part B covers outpatient services like doctor visits, lab tests, and preventive care.

Medicare Advantage (Part C) is a private insurance alternative to Original Medicare. It often includes additional benefits like dental and vision but requires you to use a network of providers, unlike Original Medicare, which has no network restrictions.

A Medigap plan helps cover costs that Original Medicare doesn’t, such as co-pays, co-insurance, and deductibles. It’s a good option if you want to reduce out-of-pocket expenses.

Medicare Part D covers prescription drugs. It’s a standalone plan you can purchase to complement Original Medicare or certain Medicare Advantage plans that don’t include drug coverage.

HMO plans require you to use in-network doctors and hospitals, often including prescription drug coverage. PPO plans offer more flexibility to see out-of-network providers but may not always cover prescription drugs.

You can sign up for Medicare during your Initial Enrollment Period, which begins three months before your 65th birthday and ends three months after. There’s also an Annual Enrollment Period from October 15 to December 7 each year for making changes to your plan.

If you delay enrolling in Part B without having other qualifying insurance, you may have to pay a late enrollment penalty, which can increase your premium by 10% for each 12-month period you were eligible but didn’t enroll.

Yes, during the Annual Enrollment Period (October 15 to December 7), you can switch Medicare Advantage or Part D plans. There is also a Medicare Advantage Open Enrollment Period (January 1 to March 31) where you can make changes if you’re already enrolled in a Medicare Advantage plan.

Medicare does not cover long-term care or custodial care in nursing homes. However, it may cover short-term stays for rehabilitation purposes following a hospital stay.

A deductible is the amount you must pay before your insurance begins to cover costs. A co-pay is a fixed amount you pay for a specific service, such as a doctor visit or prescription, after you’ve met your deductible.