Best Medicare Plans for Seniors and Retirees

Finding the appropriate Medicare plan depends on an individual’s health needs, income level and other circumstances. We evaluated how many states each carrier serves; their PPO availability (which allows beneficiaries to travel outside their service area but still remain covered); customer satisfaction ratings; and more.

The best Medicare Advantage providers provide additional benefits, competitive costs and excellent customer service.

Part A

Medicare provides affordable health coverage to seniors and retirees alike. People contribute by paying into it through income taxes over time in order to receive its benefits upon retirement or disability.

Many individuals opt for Medicare Advantage plans, an all-in-one package which combines hospital insurance, medical services and prescription drug coverage in one plan. Each Medicare Advantage plan features annual out-of-pocket maximums as well as monthly premiums and copays.

Private Medicare Advantage health insurance companies offer many plans, so selecting the optimal one requires careful evaluation of both financial and health needs. Each year during Medicare Open Enrollment Period from October 15-Dec 7 individuals can enroll or change existing plans without incurring penalty fees or additional enrollment charges.

Part B

Medicare Advantage plans provide more flexibility than traditional Medicare through Medigap policies; however, their premiums and copays tend to be higher. MoneyGeek has compiled an overview of 2024’s top Medicare providers based on cost and quality ratings from CMS and third parties such as Aetna (who offer plans that cover most generic drugs with just $2 copay without meeting deductible). To assist consumers in making informed choices about their Medicare Part D plans Aetna offers the lowest premiums nationwide while covering them without incurring deductible.

Medicare Advantage plans are managed care plans provided by private insurance companies contracted with Medicare that contract directly to provide all hospital, medical and prescription drug coverage without the need for separate Medigap policies (Medigap). The top Medicare Advantage providers boast competitive prices with low copays and deductibles and exceptional customer satisfaction ratings.

Part C

Original Medicare provides hospitalization coverage as well as some limited home health visits; in contrast, Part C plans offer all-encompassing protection. They combine all aspects of Medicare Parts A and B together with prescription drug coverage plus wellness programs, vision/hearing/dental benefits as well as fitness club membership.

Medicare Advantage plans may be cost-effective for some and offer the convenience of one-stop healthcare access. But they may not be suitable for everyone; especially those who prefer traditional Medicare with Medigap coverage or who have employer or veterans’ health coverage available to them.

MoneyGeek recommends considering cost and provider networks when selecting the ideal Medicare Advantage PPO/HMO plans, such as Blue Cross Blue Shield, UnitedHealthcare and Aetna as top picks for their PPO/HMO offerings.

Part D

UnitedHealthcare, Aetna, Humana and Cigna are our top five insurance carriers offering Medicare Part D prescription drug coverage plans with outstanding nationwide ratings, competitive pricing, broad formularies (drug lists) and national pharmacy networks. Their Medicare Advantage plans feature no copay for Tier 1 generic drugs when purchased through preferred pharmacies or mail order.

Advantage plans offer convenience by making shopping easier with their one-stop approach and typically cap out-of-pocket expenses by only using providers within their network, making this type of coverage useful for those without sufficient funds to afford a separate Medigap policy with a high deductible.

Medigap

As people age, their health needs can change, making it essential to select the ideal Medicare plan. At Senior Benefit Services, their experts can assist in selecting a customized plan tailored specifically to your budget and needs.

Medigap plans are intended to supplement Original Medicare by covering copays, deductibles and coinsurance payments. Furthermore, they allow more flexible healthcare services nationwide by covering copays for copayable providers nationwide.

There are currently ten Medicare Supplement plans, each offering unique premiums depending on your state and insurance company. Plan F and Plan G have some of the lowest rates for people aged 71-75; both offer comprehensive coverage with high customer satisfaction ratings – which could save you significant sums over time.