Your Medicare insurance options

When it comes to Medicare insurance, there are 2 main options. Either  Original Medicare (Medicare Part A + B), or a Medicare Advantage plan (Medicare Part C). Some people will also need additional coverage, through the forms of either a prescription drug plan, or a Medicare supplement plan, commonly referred to as Medigap.

 

Original Medicare

  • Includes Medicare Part A (Hospital insurance), and Medicare Part B (Medical insurance).
  • Unless you have viable alternative drug coverage, a Medicare Part D drug plan is required, or you may be permanently penalized.
  • You may choose to enroll in a Medicare Supplement plan (Medigap), Medicaid, or employee/union coverage to help pay for your maximum out of pocket costs.

Medicare Advantage (Part C)

  • Medicare Advantage plans are an alternative to Original Medicare, they include Medicare Parts A, B, and sometimes D, and may also include additional benefits such as dental, vision, hearing, and more.
  • These plans may have lower max out of pocket costs than Original Medicare. Usually, you will have to go through a service provider that is in your plan’s network.