If you’re nearing 65 and are eligible to join the more than 58.5 million Americans already enrolled in Medicare, then figuring out the best type of Medicare coverage should be one of your priorities. Or maybe you’re already enrolled in Medicare and considering making changes during Medicare open enrollment. It’s important to consider these several components of Medicare so you can choose the right plan for you.
- Costs. Consider the cost of your premiums, deductibles, and any other costs associated with your health care.
- Coverage. Will the plan cover all the medical and hospital services you might need?
- Your other coverage. Determine how any additional health care coverage you have works with Medicare plans.
- Prescription drugs. Understand whether you will need prescription drug coverage. Are there any coverage rules that you need to consider?
- Doctor and hospital choice. Are your doctors in the plan, and do they accept Medicare coverage?
- Quality of care. Are your health care plans rated? How is the quality of care you receive, and will that change with a different plan?
- Travel. Do you plan to travel outside the U.S. during your retirement?