Medicare Guidance Made Simple

Original Medicare includes Part A and Part B and is administered by the federal government. Medicare Advantage plans are offered by private insurance companies approved by Medicare and provide Part A and Part B benefits, often with additional rules, networks, costs, and benefits. Plan availability varies by area.

Part D helps cover prescription drugs. You may obtain Part D through a stand-alone prescription drug plan with Original Medicare or through many Medicare Advantage plans. Delaying creditable drug coverage may result in a late-enrollment penalty unless an exception applies.

Medicare Supplement insurance, also called Medigap, is private insurance designed to help pay certain out-of-pocket costs left by Original Medicare. You cannot use a Medicare Supplement policy together with a Medicare Advantage plan.

Your Initial Enrollment Period generally begins three months before the month you turn 65, includes your birthday month, and ends three months after it. Other enrollment periods may apply based on employment, loss of coverage, disability, or other qualifying circumstances.

That depends on the coverage option. Before enrolling, review provider networks, pharmacy networks, formularies, prior-authorization rules, and estimated costs. Providers and formularies can change, so current verification is important.