Medicare Basics: What You Need to Know Right Now

Feeling lost about Medicare? You’re not alone. Millions start this year confused about who can sign up, what each part covers, and how to keep costs down. This guide breaks it all down in plain English so you can make smart choices without drowning in jargon.

Understanding Medicare Parts

Medicare isn’t a single plan – it’s split into four main parts. Part A covers hospital stays, nursing care, and some home health services. Most people don’t pay a premium for Part A because they or their spouse paid Medicare taxes while working.

Part B handles doctor visits, outpatient care, and some preventive services. You usually pay a monthly premium for B, and there’s an annual deductible you must meet before the plan starts paying.

Part C, also called Medicare Advantage, lets private insurers bundle A and B (and sometimes D) into one plan. These plans often add extra perks like vision or dental, but they can have their own network rules.

Part D is the prescription drug coverage. It’s optional, but if you need meds, you’ll likely want it. Like B, D comes with a monthly premium and a deductible that varies by plan.

How to Enroll and Save

First‑time enrollment starts three months before you turn 65 and runs for seven months total. If you miss this window, you’ll enter a General Enrollment Period from January to March each year, but expect a higher premium.

If you’re already on Social Security, you’ll get automatically enrolled in Parts A and B. If you’re still working and have employer coverage, you can delay B without penalty.

To keep costs low, compare plans every year during the Open Enrollment Period (Oct 15 – Dec 7). Your needs might change, and some plans drop prices or add new benefits.

Watch out for extra fees. Some Medicare Advantage plans charge copays for doctor visits, and Part D plans have a “donut hole” where you pay a larger share of drug costs. Picking a plan with lower copays or a higher drug formulary can offset these gaps.

Use free resources like the Medicare Plan Finder on Medicare.gov. It shows side‑by‑side comparisons, star ratings, and out‑of‑pocket limits to help you pick the best fit.

Common mistakes include forgetting to sign up for Part D, assuming all doctors accept every Medicare Advantage plan, and not reviewing the plan yearly. A quick check each fall can save you hundreds.

Bottom line: Medicare is a mix of parts that work together. Know which parts you need, when to enroll, and how to compare plans. With a little effort, you can protect your health and your wallet.