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August 6, 2014 By Julian

Your Medicare Coverage Choices

Health-Wellness_HandsomeDoctorThere are 2 main ways to get your Medicare coverage— Original Medicare (Part A and Part B) or a Medicare Advantage Plan (Part C). Use these steps to help you decide which way to get your coverage:

Step 1: Decide if you want Original Medicare or a Medicare Advantage Plan

You can choose Original Medicare.
You can choose a Medicare Advantage Plan (like an HMO or PPO).

Step 2: Decide if you want prescription drug coverage (Part D)

You choose Original Medicare.
You choose a Medicare Advantage Plan.

Step 3: Decide if you want supplemental coverage (Original Medicare only)

You may want to get coverage that fills gaps in Original Medicare coverage. You can choose to buy a Medicare Supplement Insurance (Medigap) policy from a private company.

  • Costs vary by policy and company.
  • Employers/unions may offer similar coverage.
Note

If you join a Medicare Advantage Plan, you can’t use Medicare Supplement Insurance (Medigap) to pay for out-of-pocket costs you have in a Medicare Advantage Plan. If you already have a Medicare Advantage Plan, you can’t be sold a Medigap policy. You can only use a Medigap policy if you disenroll from your Medicare Advantage Plan and return to Original Medicare.

Other options

  • In addition to Original Medicare or a Medicare Advantage Plan, you may be able to join other types of Medicare health plans.
  • You may be able to save money or have other choices if you have limited income and resources.
  • You may also have other coverage, like employer or union, military, or veterans’ benefits.
Note

You can get personalized health insurance counseling at no cost to you from your local State Health Insurance Assistance Program (SHIP).

Source: Medicare.gov, “Your Medicare coverage choices” http://www.medicare.gov. Accessed November 28, 2015. http://www.medicare.gov/sign-up-change-plans/decide-how-to-get-medicare/your-medicare-coverage-choices.html

© Copyright 2016. All rights reserved. This content is strictly for informational purposes and although experts have prepared it, the reader should not substitute this information for professional insurance advice. If you have any questions, please consult your insurance professional before acting on any information presented. Read more.

Filed Under: Affordable Care Act, Health & Benefits, Personal, Theme 123

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