By Robert D. Crawford, MBA
As retirees approach age 65, there are many important Medicare choices that they need to understand so they can choose the most favorable benefits that best fits their individual medical needs as well as meeting their budgetary goals.
Medicare consists of:
- Part A is sometimes referred to as Hospital insurance,
- Part B is sometimes referred to as Medical insurance,
- Part C is sometimes referred to as Medicare Advantage usually a combination of Part A, Part B, and Part D run by Medicare approved private insurance companies.
- Part D is sometimes referred to as Prescription Drug Plan
- Medigap plans provided by private insurance companies can be purchased to supplement Original Medicare coverage