There are three types of Medicare plans: Original Medicare, Medicare Advantage, and Medigap.
Original Medicare is the government-run health insurance program for people 65 and older. It includes Part A (hospital insurance) and Part B (medical insurance). You can also add on a prescription drug plan (Part D).
Medicare Advantage plans are run by private companies approved by Medicare. They include all the benefits of Original Medicare plus extra benefits like dental, vision, and fitness programs. Some plans also offer prescription drug coverage.
Medigap is supplemental insurance that you can buy to help cover the costs that Original Medicare doesn’t cover, like copayments, coinsurance, and deductibles.
Which type of plan is right for you depends on your needs and budget. You can switch between plans during specific enrollment periods throughout the year.