Medicare is the federal health insurance program for people who are 65 or older. Signing up is one of the big decisions you’ll have to make in retirement. Let’s focus on what’s called Path 1: a blend of coverage from the government (Part A and Part B) and private health insurers (Part D and Medigap).
Path 1 options
Medicare Part A
This is hospital insurance that helps cover inpatient services.
Medicare Part B
This is medical insurance that helps cover outpatient services.
Medicare Part D
This is supplemental prescription drug coverage that may help with some medication costs.
How to fill the gaps in coverage
Here are some ways that can help you fill in the gaps:
- Purchase Medicare supplemental coverage
- Talk to a Medicare professional to determine what additional coverages you may need later