Medicare at a glance
Medicare is federal health insurance for people 65 and older, certain younger people with disabilities, and people with End-Stage Renal Disease. There are four parts:
- Part A (Hospital Insurance) — Inpatient hospital stays, skilled nursing facility care, hospice, and some home health care. Most people don't pay a premium for Part A.
- Part B (Medical Insurance) — Doctor visits, outpatient care, medical supplies, and preventive services. Standard monthly premium: $174.70 (2026).
- Part C (Medicare Advantage) — Private plans that bundle Parts A, B, and usually D. Often include extra benefits like dental, vision, and hearing.
- Part D (Prescription Drug Coverage) — Helps cover the cost of prescription drugs. Average monthly premium: ~$35.
When to enroll
Initial Enrollment Period: 7-month window starting 3 months before your 65th birthday month. General Enrollment: January 1–March 31 each year if you missed your initial window. Open Enrollment: October 15–December 7 each year for changing plans.
Medigap (Medicare Supplement)
Medigap policies help pay out-of-pocket costs not covered by Original Medicare (Parts A and B), like copayments, coinsurance, and deductibles. You need both Parts A and B to qualify, and Medigap does not cover prescription drugs (you need Part D for that).
Key fact: The best time to buy a Medigap policy is during your 6-month Medigap Open Enrollment Period, which starts the month you turn 65 and enroll in Part B. During this period, you can buy any Medigap policy sold in your state, regardless of health status.