Medicare

When you turn 65 you are faced with the task of choosing the right medicare plan for your situation. The purpose of this blog is to give you some direction and some suggestions based on my experience. First of all medicare (parts A and B) only covers 80% of your medical costs for doctors and hospitals. You will see a lot of advertising for medicare advantage plans which will cover the 20% and also prescription drugs in many cases. An alternative is medicare supplemental which also covers the 20% but has no prescription drug coverage. Medicare supplemental is more flexible than advantage but more expensive. Supplemental may have more coverage by including the doctors you want to use. Supplemental F covers all out of pocket while supplemental G has a small deductible. I believe the best plan for most seniors is medicare supplemental G and a separate prescription drug coverage(part D). This coverage will just about duplicate the health insurance provided by large companies. The cost to you of medicare parts A, B, supplemental G, and prescription drug coverage will be about $3,333 a year.