There are four types of medicare plans.
We will start with Part A and explain what each individual plan offers coverage for.
It is required that you sign up for Part A.
Part A Medicare plan deals with hospitalization and the bills that may be incurred while you are in the hospital.
This plan is free to you if you have been employed (with a medicare-covered job) for ten years or more.
You are required to pay a deductible if you are hospitalized.
The U.
S.
government limits your coverage to 90 days in the hospital per illness.
After that, Part A will pay for a one time 60-day hospital stay.
Part B offers coverage for doctor visits and any tests your doctor may need to run.
The cost for Part B is based upon your income.
It is not required that you sign up for Part B Medicare.
You are required to pay a deductible before you are covered by this plan.
The way this deductible works is Medicare will pay 80% of the cost, if approved, and you are required to pay 20%, plus anything not covered by Medicare.
However, Part B only covers doctor bills as long as you are in the U.
S.
Part C is a more financially reasonable managed-care option.
This part of Medicare is also called the Medicare Advantage.
If you choose to apply for Part C, you are first required to sign up for Parts A and B.
Part D is the prescription drug coverage.
Part D is not required.
It is still a good idea if you do not have group health coverage to put off purchasing B and D until you have retired or no longer receive group coverage.