![]() Anyone enrolled in Medicare before 2020 can still sign up for plans F and C. The closest substitute for Plan F is Plan G, which pays for everything that Plan F did except the Medicare Part B deductible. Plan F has been very popular because of its comprehensive coverage, but as of 2020, Plan F (along with Plan C) is unavailable for new enrollees. ![]() Each policy that goes by the same letter must offer the same basic benefits, and usually the only difference between same-letter policies is the cost. Medigap policies are identified by letters A through N. You can switch Medigap plans at any time, but you could be charged more or denied coverage based on your health if you choose or change plans more than six months after you first signed up for Part B. Fill Medicare's coverage gaps with a Medigap planīeneficiaries of traditional Medicare will likely want to sign up for a M edigap supplemental insurance plan offered by private insurance companies to help cover deductibles, co-payments and other gaps. In addition to premium costs, you'll also be subject to co-payments, deductibles and other out-of-pocket costs. Part D, which covers prescription-drug costs, also has a monthly charge that varies depending on which plan you choose the average Part D basic premium for 2023 will be about $32.74, down from $33 this year. ![]() (People who aren't eligible for free Part A can pay a monthly premium of several hundred dollars.) Part B covers doctor visits and outpatient services, and it comes with a price tag - the standard monthly premium in 2023 will be $164.90, down from $170.10 per month this year. Part A, which pays for hospital services, is free if either you or your spouse paid Medicare payroll taxes for at least 10 years. To help you wade into the waters of this complicated federal health insurance program for retirement-age Americans, here are 11 essential things you must know about Medicare. And what the heck is a doughnut hole, anyway? There's Part A, Part B, Part D, Medigap plans, Medicare Advantage plans and so on. Figuring out when to enroll in Medicare and which parts to enroll in can be daunting even for the savviest retirees. Heading into retirement brings a slew of new topics to grapple with, and one of the most maddening may be Medicare.
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