During open enrollment (Oct. 15-Dec. 7), first-time Medicare enrollees may choose between original Medicare – which includes Part A (hospital), Part B (medical) and Part D (prescription drug) insurance. Seniors who already have Medicare can also change plans.

If seniors choose original Medicare, they usually select from a variety and scores of Medicare supplemental or “Medigap” plans (Part C), which cover medical expenses that Medicare doesn’t.

Prices and coverage vary for each Medicare plan or supplement. Beneficiaries also must ensure their physicians, hospitals, pharmacies and medications are included in the insurance network plans being selected at costs they can best afford.

Most Medicare recipients do not pay a monthly premium for Part A, but there are possible deductibles and limits to what is covered. In 2024, out-of-pocket cost is capped at $1,632 for each inpatient hospital benefit period.

The average monthly premium for Part B is $174.40 in 2024. Most plans pay around 80% of costs with the beneficiary being responsible for the remaining 20% in most situations.

Prescription drug coverage (Part D) is insurance that covers both generic and brand name prescriptions. Coverage is provided through private companies, and many types of plans are available. The 2024 average cost of a Part D plan is approximately $59 a month.

If someone is leaving employment with included health care insurance or are newly retired, Medicare requires enrolling into Parts B and D within certain timeframes to avoid penalties being added to their base premiums for life.

SHICK counselors are also available throughout the year for Medicare assistance and concerns about possible Medicare fraud.