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What options do I have?

In most cases, when you enroll, you will choose between these options. Use this chart to help you decide which option is right for you.

Step 1: Decide if you want

Original Medicare 
WITH MEDICARE SUPPLEMENT

Medicare Advantage Plan
LIKE AN HMO OR PPO NETWORK

PART A (HOSPITAL INSURANCE)
PART B (MEDICAL INSURANCE)

  • Medicare provides this coverage.
  • You have your choice of doctors, hospitals, and other providers that accept Medicare.
  • Most people pay a monthly premium for Part B. In addition, you will pay deductibles for services covered under Parts A and B and pay co-insurance for all Medicare-covered services.
  • IN ADDITION, YOU MAY ADD A MEDICARE SUPPLEMENT POLICY TO YOUR PART A AND B MEDICARE COVERAGE.
  • These plans are offered by private insurance companies that pay all or part of the deductibles and co-insurance with predictable out-of-pocket expenses.
  • If you have a Medicare Supplement policy you cannot join a Medicare Advantage Plan. 
  • No network restrictions, as long as the provider accepts Medicare.

PART C: INCLUDES BOTH PART A (HOSPITAL INSURANCE) & PART B (MEDICAL INSURANCE)

  • Private insurance companies approved by Medicare provide this coverage.
  • In most plans, you need to use approved network doctors, hospitals, and other providers or you will pay more.
  • You pay a monthly premium (depending upon the plan), your Part B premium, and co-payments for covered services.
  • Costs, rules, and coverage beyond what’s covered in Medicare Parts A and B will vary by plan.
  • Note: If you join a Medicare Advantage Plan, you do not need to have a Medicare Supplement policy.
  • Normally you will see lower monthly premium costs, but higher out-of-pocket expenses when services are rendered.

Step 2: Decide if you want Prescription Drug Coverage (Part D)

  • If you want this coverage, you must choose a Medicare Prescription Drug Plan.
  • These plans are run by private insurance companies approved by Medicare.
  • You must pay the monthly plan premium and drug co-payments.
  • Most Medicare Advantage Plans include prescription drug coverage (Part D).
  • Generally, the drug premium is included in your monthly Medicare Advantage premium. You will be responsible for co-payments and any other plan costs.

 

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