Everything you need to know about Medicare, explained plainly.

Part A covers hospital and inpatient care. Part B covers doctor visits and outpatient care. Part C, also called Medicare Advantage, is a private plan that bundles Parts A and B and usually adds drug coverage. Part D covers prescription drugs. Together they make up your Medicare coverage.

Most people first become eligible at 65. Your Initial Enrollment Period is a seven-month window that starts three months before the month you turn 65 and ends three months after. If you are still working with employer coverage, you may be able to delay Part B without a penalty and enroll later through a Special Enrollment Period.

Most people pay no premium for Part A because they paid Medicare taxes while working. The standard Part B premium is $202.90 per month with a $283 annual deductible. The Part A hospital deductible is $1,736 per benefit period. Higher earners pay more for Parts B and D through an income adjustment called IRMAA.

Original Medicare is the government program (Parts A and B) that lets you see any provider that accepts Medicare, with no network. Medicare Advantage (Part C) is a private plan that replaces Original Medicare, often bundling drug coverage and extra benefits, in exchange for using a network and following the plan's rules. Many people instead add a Supplement and a Part D plan to Original Medicare.

Missing your enrollment window can mean a lifelong late-enrollment penalty added to your Part B or Part D premium, plus a gap in coverage until the next enrollment period. There are exceptions if you had other qualifying coverage, so it is worth confirming your timing with a licensed Advocate before any deadline passes.