Medicare Made Simple: Choosing Between Original Medicare, Medicare Advantage, and Supplements

Navigating Medicare can feel overwhelming, but understanding your options is crucial for getting the healthcare coverage you need at a price you can afford.

The Four Parts of Medicare

Medicare Part A (Hospital Insurance): Covers inpatient hospital stays, skilled nursing facility care, hospice care, and some home health care. Most people get Part A premium-free.

Medicare Part B (Medical Insurance): Covers doctor visits, outpatient care, medical supplies, and preventive services. Most people pay a monthly premium for Part B.

Medicare Part C (Medicare Advantage): An alternative to Original Medicare that includes Parts A and B, often with additional benefits like prescription drug coverage, dental, and vision.

Medicare Part D (Prescription Drug Coverage): Helps cover the cost of prescription drugs. Available as standalone plans or included in Medicare Advantage plans.

Original Medicare vs. Medicare Advantage

Original Medicare gives you the freedom to see any doctor or specialist who accepts Medicare, anywhere in the country. However, it doesn't include prescription drug coverage or extras like dental and vision.

Medicare Advantage typically costs less monthly but restricts you to a network of providers. However, these plans often include prescription drugs, dental, vision, and even wellness benefits like gym memberships.

Medigap (Medicare Supplement Insurance)

If you choose Original Medicare, you might want a Medigap policy to help pay for costs that Medicare doesn't cover, like copayments, coinsurance, and deductibles.

When Can You Enroll?

• **Initial Enrollment Period**: 7 months around your 65th birthday
• **Annual Open Enrollment**: October 15
• December 7 each year
• **Medicare Advantage Open Enrollment**: January 1
• March 31

Making the Right Choice

Consider these factors: 1. Your current doctors and whether they accept Medicare 2. Your prescription medications 3. Your budget for premiums and out-of-pocket costs 4. Whether you travel frequently 5. Your need for extra benefits like dental and vision

Working with a licensed Medicare agent can help you compare all your options and find the plan that best fits your needs and budget.