Compare Your Medicare Plan Options
Knowing Your Options
As an enrollee in Medicare, it is important to consider your options. Although there are many who fall under the coverage of Medicare, this coverage may differ greatly from person to person. This is due to the fact that there are multiple options for coverage and benefits, all under the umbrella of Medicare. It is important to compare Medicare plans to make sure you are saving money where you can while getting the coverage that you need.
The Four Parts of Medicare Coverage
- Medicare Part A: Sometimes referred to as hospital insurance, Medicare Part A also covers skilled nursing facility care, nursing home care, hospice, and some home health services.
- Medicare Part B: Sometimes referred to as medical insurance, Medicare Part B covers services and supplies necessary to diagnose or treat your medical condition, as well as healthcare to prevent illness or detect it in an early state. This can include ambulance services, durable medical equipment, inpatient/outpatient mental health services, and getting a second opinion before surgery.
- Medicare Part C: Also known as Medicare Advantage (MA), Medicare Part C offers all of the coverage provided by Parts A and B, but you get your plan through a private insurance company that has been approved by Medicare. In addition, many MA plans offer coverage not included in Original Medicare.
- Medicare Part D: Also known as Medicare Prescription Drug Coverage, Part D is offered via private insurers as an add-on to your Original Medicare. Or, you can get prescription drug coverage through your Medicare Advantage Plan. Each Medicare Prescription Drug Plan has its own list of covered drugs.
What Is Medicare Supplement Insurance?
Also known as Medigap, Medicare Supplement Insurance is sold by private companies that have been approved by Medicare. It helps cover the costs not covered by Original Medicare, such as co-payments, co-insurance, and deductibles. There are also some services that Original Medicare doesn’t cover and Medigap plans sometimes offer extra coverage for these. You must have Medicare Parts A and B to get a Medigap policy.
These policies only cover one person, so if you and your spouse need coverage, you’ll each have to purchase your own plan.
You can always leave the research up to the team at Medicare Solutions. Our licensed sales agents can help you find the plan that is best suited to your needs and budget.