1. Start by Understanding the Basics

- Part A provides coverage for long term medical care, including in-patient hospital stays, hospice care, or extended nursing care, both in a facility or inside your home.
- Part B provides coverage for regular doctors' visits and outpatient care, including office visits, tests, and outpatient procedures. 
- Part C, also known as a Medicare Advantage plan, provides the combined coverage of parts A & B, and many plans also include Medicare Part D. The Part C Advantage plans are often cheaper than purchasing plans from Parts A and B separately, and many Advantage plans offer optional add-on services, such as dental and vision. 
- Part D provides insurance for prescription drug coverage. Patients can purchase a Part D plan separately with either Part A or B, and some Advantage plans also include prescription coverage. Like most publicly available prescription drug coverage, Medicare Part D has a formulary that outlines the cost of specific medications and how much will be covered. 
- Supplemental plans provide additional coverage beyond what Parts A, B, C, and D cover. Purchasing a Medicare Supplement plan, also known as Medigap, can help defray out of pocket expenses, such as coinsurance or deductibles.

2. Compare Advantage Plans Available in Your Area

- Out-of-pocket costs: Different plans set different amounts for monthly premiums, original deductibles, coinsurance, co-pays, out of pocket maximums and overall maximum benefits. Some plans have lower monthly premiums but require higher deductibles and co-pays, while other plans will cover more of your out-of-pocket costs in exchange for a higher monthly premium.