Don't Be Intimidated by Medicare Labyrinth of Letters
Humberto Cruz
After applying online at www.socialsecurity.gov, I got a letter from the government saying I was entitled to Medicare Parts A and B as of
I decided not to get Part C and to wait on Part D.
I wanted a private Plan J, which my wife, Georgina, got last year, to plug in the gaps in Medicare Parts A and B. But you can't get Plan J - or E, H or I - anymore, although people who already have them can keep them. I signed up for the newly revised Plan F, which is very similar to the old J.
If you got lost in this labyrinth of letters, I offer a primer on
Part A, which is free for the vast majority of Americans, and Part B, which currently charges a monthly premium of
But you'll want more. Medicare Part A has large deductibles (for example,
That's why an estimated 89 percent of people on
Based on the features and costs of the plans available where I live, I opted for a Medicare Supplement Plan rather than a Medicare Advantage Plan that would restrict my choice of doctors. This is a personal decision and not an endorsement of one type of plan over the other.
Medicare Supplement plans, which you also buy from private insurance companies, include Plans A, B, C, D, F, G, K. L, M and N (for details, go to www.Medicare.gov). While coverage is standardized for each type of plan (
Plan A is the most basic and Plan F the most comprehensive. I preferred Plan F although the premium is higher (
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Personal Finance - Don't Be Intimidated by Medicare Labyrinth of Letters
(c) 2010 Humberto Cruz