WHAT ARE MY MEDICARE OPTIONS
CHOOSING THE MEDICARE OPTION THAT IS RIGHT FOR YOU
The initial decisions you make about your Medicare coverage are important and should not be taken lightly. We will help you make informed decisions about your healthcare, for free. Call us at 877-895-0059
OPTION 1
ORIGINAL MEDICARE ONLY
While Original Medicare provides good coverage, it does not pay for everything. For example, Medicare usually covers about 80% of your Part B costs. It is up to you to cover the rest and there is no maximum on how much you will pay.
Pros
See any doctor who accepts Original Medicare
No pre-authorization needed for most medical treatment
Cons
No additional benefits like routine dental, vision, and hearing
The Part A deductible is thousands of dollars
Part B deductible and 20% co-insurance for each visit can add up quickly
No limit on the amount of medical bills you can be responsible for
OPTION 2
ORIGINAL MEDICARE ONLY
MEDICARE ADVANTAGE
Medicare Part C Medicare Advantage plans are insurance plans provided by private health insurance companies that replace your Original Medicare coverage. Medicare Advantage plans are great for people who value extra benefits at a zero to low cost and are comfortable paying for some medical treatment as the need comes up.
Pros
$0 to Low Premium
At least as good as Original Medicare
Frequently includes additional benefits that Original Medicare doesn’t such as Prescription Drug, Dental, Vision, Fitness Memberships, Over the Counter Item allowance
Limits your exposure to medical bills with a Maximum Out of Pocket limit
Typically people with Medicare Advantage plans pay less in plan premiums than people with Medicare Supplements
Cons
Typically people with Medicare Advantage plans pay more in medical bills than people with Medicare Supplements
Requires pre-authorization for treatments like surgery, outpatient radiology, testing
Required to use the plan network to reduce your expenses
If you see a healthcare provider outside the network, there may not be coverage
Even though Part C replaces Original Medicare, you still have to pay for Medicare Part B
OPTION 3
ORIGINAL MEDICARE +
MEDICARE SUPPLEMENT
Medicare Supplement, also called Medigap, plans are insurance plans provided by private health insurance companies that work with your Original Medicare coverage. Medicare Supplement plans are great for people who value the predictability of a plan premium in exchange for no to very low amounts of medical bills and are comfortable paying a monthly plan premium.
Pros
Higher Premium than Medicare Advantage
See any doctor who accepts Original Medicare
Does not replace Original Medicare
No network restrictions
No pre-authorization for most medical treatment
Since Medicare Supplements Plan types are standardized, the plans are the same at different companies
Typically people with Medicare Supplements pay less in medical bills than people with Medicare Advantage plans
Cons
Typically people with Medicare Supplements pay more in plan premiums that people with Medicare Advantage plans
No additional benefits like routine dental, vision, and hearing
The plan premium may increase in price as you get older
Requires a separate prescription drug plan
Even though Supplements worth with Original Medicare, you still have to pay for Medicare Part B