Mom and Dad kept saying they were paying too much for their medical/health insurance and they are in the "donut hole". They're in their eighties and have been receiving Social Security for many years. And like many seniors are overwhelmed by mail solicitations to buy things. Especially this time of year they receive mail regarding changing their medical insurance.

This year I was finally invited in to help them make a decision whether to change their Medicare Advantage Plan or not. A-ha! Here's something I know how to do - research!!

So I knew they were needed to compare plans to find the one plan that best fits their medical and prescription needs. I didn't understand Medicare AND I need to learn about it because I'm planning on retiring next year. So I tackled it head-on. First place I went to was the Medicare website (www.medicare.gov). Here's what I learned --

What's Part A, B and C all about?

Part A of Medicare covers Hospital/nursing homes/hospice and home health services. This is also called Medicare Original

Part B of Medicare covers all medically necessary and preventive services (Dr. visits, etc.) This is also called Medicare Original.

Now here's the tricky part about Part C --
Part C means any health plan that combines Part A and Part B coverage. Generally offered through a third-party company such as Excellus, AARP, etc. or in this case their current plan. These plans are called Medicare Advantage Plans and they MAY or may not include a prescription drug plan.

Any company that offers a Part C plan manages the "business" of Medicare claims.
Here's how Medicare interacts with those Medicare Advantage Plans -
"Medicare pays a fixed amount for your care each month to the companies offering Medicare Advantage Plans. These companies must follow rules set by Medicare.However, each Medicare Advantage Plan can charge different out-of-pocket costs and have different rules for how you get services (like whether you need a referral to see a specialist or if you have to go to only doctors, facilities, or suppliers that belong to the plan for non-emergency or non-urgent care). These rules can change each year"

How to decide the best (most economical) plan?
When comparing Medicare Advantage Plans it's important to look into how each plan covers the various drugs - rates differ from one plan to another.

Additionally I see there may be some advantage to having the Dr. order a 90 day supply of medication rather than a 30 day supply.

AND there could be a savings if the medications go through a mail-order pharmacy instead of having to visit the pharmacy every day.