Medicare refers to the health insurance plan created by the Federal government back in 1965. It consists of two parts – Medicare Part A (hospital coverage) and Medicare Part B (medical coverage). For Medicare to cover your health care services, you need to ensure that you receive treatment from doctors or hospitals approved by Medicare. Blue Cross Blue Shield Association (BCBSA) consists of 36 Blue Cross Blue Shield (BCBS) companies providing health insurance across 50 states and to over 106 million people. The association also provides licenses to independent companies to use their name and trademarks in certain geographical areas.

BCBS offers a wide range of Medicare Plans that vary from state to state. It is important that you draw comparisons between various plans and pick one that covers your needs. Here are five questions you need to ask yourself when drawing comparisons.

How much monthly premium are you willing to pay?
The answer to this question is extremely essential in order to purchase the right Medicare plan. There are two options here. First, a Medicare plan that charges a lower premium in exchange for paying copayments or out-of-pocket costs. Second, a Medicare plan that charges a high monthly premium with little or no out-of-pocket costs for services.

How much are you willing to pay out of your pocket for services?
The logic here is simple. The more you spend on services and supplies approved in a Medicare plan out of your pocket, the lesser premium you will have to pay.

Do you want to opt for prescription drug coverage?
Not all Medicare plans by BCBS provide prescription drug coverage. Look for plans that combine this benefit especially if you have a condition that requires you to take prescription drugs very often.

Do you travel a lot?
Choose a Medicare plan depending on how often and how long you travel. Each plan provides different travel benefits.

How important are wellbeing services to you?
If it matters a lot to you, pick a plan that covers wellbeing programs and services.