Senior Health Insurance Plans: A Guide to Better Healthcare Choices

Several insurance options are available to older adults. Each option has different rules, costs, and benefits.

1. Original Medicare

Original Medicare includes Part A and Part B.

Medicare Part A generally helps cover eligible inpatient hospital care, skilled nursing facility care under qualifying conditions, hospice care, and some home health services.

Medicare Part B generally covers medically necessary outpatient services. These may include doctor visits, preventive screenings, laboratory tests, and certain medical equipment.

Original Medicare allows beneficiaries to visit providers who accept Medicare, subject to Medicare's coverage rules.

However, Original Medicare does not cover every healthcare expense. Deductibles, coinsurance, and other out-of-pocket costs may apply. Most routine outpatient prescription drugs also require separate coverage.

2. Medicare Advantage Plans

Medicare Advantage, also known as Medicare Part C, is an alternative way to receive Medicare Part A and Part B benefits through a private insurance company approved by Medicare.

Many Medicare Advantage plans include prescription drug coverage. Some may also offer extra benefits, such as routine dental, vision, or hearing services.

Plan features vary by location and insurer. Some plans use provider networks, so seniors should check whether their preferred doctors, hospitals, and pharmacies are included.

When comparing plans, review monthly premiums, copayments, out-of-pocket limits, and coverage rules.