How to Choose the Right Medicare Plan?

You have had some choices to make if you are enrolling in Medicare for the first time or getting ready for the annual open enrollment.

Should you sign up for original Medicare or Medicare Advantage? What is the best Part D prescription drug plan for you? Is it a good idea to get Medicare Supplement Insurance?

This step-by-step guide can assist you in determining the type of Medicare coverage that is best for you.

What Are the Various Types of Medicare?

Part A of Medicare

Original Medicare consists of Original Medicare Parts A and B.Part A includes hospital admissions, skilled nursing facility care, home health care, and hospice care. Part B covers physician and ambulatory care services, as well as preventive care. Both Part A and Part B have government-mandated cost-sharing. Original Medicare covers roughly two-thirds of the 60 million Americans who are eligible for Medicare.

Supplemental Medicare Insurance

Private insurers sell Medicare Advantage plans as an alternative to Original Medicare. Medicare Advantage plans, also referred to as Medicare Part C, may include extra advantages such as dental and optical coverage. Furthermore, many of these advantage plans include Part D prescription drug coverage. Each insurer determines cost-sharing.

Prescription Medication Coverage Under Medicare Part D

Private health insurers also oversee Medicare Part D prescription drug coverage. Part D is an optional program that provides coverage for prescription drugs.

Supplemental Medicare Insurance

Private insurers sell Medicare Advantage plans as an alternative to Original Medicare. Medicare Advantage plans, also referred to as Medicare Part C, may include extra advantages such as dental and optical coverage. Furthermore, many of these advantage plans include Part D prescription drug coverage. Each insurer determines cost-sharing.

Prescription Medication Coverage Under Medicare Part D 

Private health insurers also oversee Medicare Part D prescription drug coverage. Part D is an optional program that provides coverage for prescription drugs.

What is the difference between Original Medicare and Medicare Advantage?

Access to providers is one major distinction between Medicare Advantage and Original Medicare. You can use Original Medicare to see any provider who accepts Medicare payments.

Medicare Advantage plans typically contract with a network of providers to help keep costs low, allowing most plans to simply provide advantages concerning those provided by Original Medicare. 

Check the list of providers for any Advantage plan you're considering to see if your doctors and other health care professionals are included in the network. Providers enter and exit networks regularly. So, once you've selected a Medicare Advantage plan, you'll like to check back each year during open enrollment to see if anything has changed.

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