Editor's note: This article was updated in December 2019.
Despite covering 61 million Americans in 2019, Medicare can be difficult to navigate. The US-government-run program provides health coverage to people over the age of 65 and to those under 65 who have certain disabilities or other conditions. If you are ready to make the switch over to Medicare or know someone who is, this article is a guide on what you need to know for as smooth a transition as possible, understanding that there are plenty of complexities here!
Though Medicare is often thought of as one big plan, it actually has four different types of coverage:
Part A covers hospital stays, care in nursing facilities, hospice care, and home health care.
Part B covers doctors’ services, non-hospital (outpatient) care, some medical devices and preventative services. People pay a monthly premium for this coverage.
Part C allows people the option to enroll in private insurance plans (HMOs and PPOs) and to receive their benefits under Parts A and B. Those plans are called Medicare Advantage, and most offer additional benefits such as dental and vision.
Part D covers prescription drugs and is optional with an additional monthly fee.