You’re retiring now. Congratulations and don’t forget to sign up for Medicare.

 

But what options do you have? The original Medicare insurance plans include Medicare Part A and Medicare Part B insurance plans. Medicare Part A covers medically necessary services such as doctor visits and care received at hospitals, nursing homes and hospices. The Medicare Part B insurance plan includes preventive services in addition to medically necessary services, covering things such as ambulance services, clinical research, medical equipment and mental health. If in addition to these services you would like to get a subsidy on prescription drugs, you can opt for the Medicare Part D insurance plan. All of these services are federally funded so your state may have specific regulations as to what qualifies as a service in each plan.

 

What if you would like additional services such as dental, vision, hearing and wellness programs? You can easily opt for a Medicare Advantage Plan. For an additional monthly fee, you can receive the benefits of government and private insurance subsidies.

 

If you need help defraying the costs that original Medicare plans don’t cover you can opt for the Medicare Supplement Insurance (Medigap), which doesn’t provide additional Medicare benefits but merely supplements your original benefits. For instance, if you travel outside the U.S. your Medigap program can help you receive insurance wherever you go.

 

Though a little confusing, you should most definitely sign up to receive Medicare benefits. You deserve them. You’ve worked a long time to get here.