Medicare
Your Comprehensive Guide
Your Medicare Options
When you first sign up for Medicare, or during certain enrollment periods, you have the choice between two primary ways of receiving your Medicare coverage:
Original Medicare
What It Includes
- Part A: Hospital Insurance
- Part B: Medical Insurance
Additional Coverage
- Part D: If you want Medicare drug coverage, you'll need to join a separate plan.
- Supplemental Coverage: To help with out-of-pocket costs like the 20% co-insurance, you may need to purchase supplemental insurance such as Medigap. Alternatively, you can utilize coverage from a former employer, union, or Medicaid.
Flexibility
- You have the freedom to use any doctor or hospital that accepts Medicare, nationwide.
Medicare Advantage (Part C)
What It Includes
- A combination of Parts A and B
- Usually includes Part D for drug coverage
Network Restrictions
- Generally, you must use doctors who are in the plan's network.
Financial Benefits
- May offer lower out-of-pocket costs compared to Original Medicare.
Extra Benefits
- Many plans offer additional benefits not covered by Original Medicare, such as vision, hearing, and dental services.
Medicare and Medicare Advantage
Comparison
| Criteria | Original Medicare | Medicare Advantage (Part C) |
|---|---|---|
| Includes | Part A, Part B | Part A, Part B, Usually Part D |
| Flexibility | Nationwide doctor/hospital choice | Network restrictions |
| Additional Coverage | Part D and Supplemental | Most plans include extra benefits |
| Out-of-Pocket Costs | May require supplemental coverage | Usually lower |
