How to Compare Medicare Plans

If you're over the age of 65 or you have a permanent disability, you may be eligible to receive Medicare health coverage. Because there are a variety of plans from which to choose, it's important to understand your medical needs in order to find the plan that's best for you. While Medicare covers many health care components, including doctor's visits and services, medical supplies and some prescriptions, you may need to purchase additional insurance depending on your medical needs. When comparing Medicare plans, take note of what's covered, monthly premiums and other costs.

Instructions

• 1

  Make a list of your health care needs and a list of all medications you're currently taking. Use these lists when comparing Medicare plans.

• 2

  Research Medicare plans that are currently available.
  Medicare plans include:
  -The original Medicare plan includes two parts: A and B.
  Part A covers short term and long term hospitalization costs. Most people who receive Medicare do not have to pay for this coverage. Part B covers doctor's visits, medical supplies and some prescription drug coverage. Those who receive Medicare pay a monthly premium for this health coverage.
  -Medicare Advantage plans -- These plans are available in most regions of the U.S. and cover additional health costs such as prescription drug coverage and medical supplies not covered under the original Medicare plan. Additional monthly premiums may be necessary to receive this coverage.
  -Medicare Prescription Drug Plans - These plans cover additional prescriptions not covered under other Medicare plans. These plans are sold by individual health insurance companies and include a monthly premium.

• 3

  Determine how much you can contribute to health care costs, as those not covered under Medicare plans may include:
  -co-payments
  -prescriptions (certain plans may cover some medications, but not others)
  -physical therapy
  -mental health costs
  -emergency care
  -preventive care

  Medigap insurance may be purchased to help cover these costs.

• 4

  Compare insurance companies that offer Medicare plans. Some vary in monthly cost and overall coverage. Obtain quotes and other information before making a selection.

• 5

  Review your Medicare plan annually and take note of any changes that could affect the care you receive. Medications that were once covered, for example, may no longer be covered. Research generic medications or seek medical advice to switch to medication that is covered under your plan.