1. Determine what benefits you need. Consider the following:
• If you are living on a fixed income and are able to afford only the most basic coverage, favor Plan A, the core plan. Among other things, you’ll get an extra 30 days hospitalization per year beyond what Medicare pays. It also covers 100% of the Medicare Part B coinsurance for approved medical services, which is usually 20% of the approved amount.
You may also want to consider plans, K or L, if they are available in your area. These policies help limit out-of-pocket costs for doctor’s services and hospital care at a lower premium; however, you will have to pay more of Medicare’s coinsurance and deductibles before the policy pays its share of the costs.
• Family History. You or your family’s medical history is such that you want to be prepared to pay for nursing care, consider Plan C. Your $140 per-day co-payment under Medicare would be covered up to 100 days for skilled nursing facility care.
• Foreign Travel. If you travel overseas extensively, you can get coverage for emergency care in a foreign country with …
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