What Medicare Plan Is Right for You?
Are there different types of plans and what if I only want certain coverage?
Medicare offers several different options. Original Medicare consists of Medicare Part A and Medicare Part B. In addition to Original Medicare, there are other options to consider which could vary, depending on where you live. You may want to consider a Medicare Prescription Drug Plan in order to add prescription drug coverage. Or, you may want to consider a Medicare Advantage Plan, such as HMO or PPO, that provides you with your Medicare Part A and Part B coverage, and sometimes Part D prescription drug coverage.
If you choose the Original Medicare Plan, you may want to consider a Medicare supplement Policy, sometimes called a Medigap Policy. If you already have Original Medicare, Medicare Solutions can also help you review plan options for Medicare supplement plans that may help pay costs not paid for by your Original Medicare. It’s worth noting that Medicare supplement policies and Medicare Advantage plans provide different services, so be careful not to conflate the two options.
Different Medicare Plans:
- The Original Medicare Plan
- Medicare Part A
- Medicare Part B
- Medicare Advantage Plans
- Medicare Prescription Drug Plans
A few helpful steps to choosing the right Medicare plan:
Think about what’s important to you. Every individual may have unique needs and concerns when it comes to health care coverage. Some people are most concerned about keeping their costs down. Other people prefer going to any doctor they chose.
There are some differences among the Medicare plans, a few of which are listed below:
- Different premium amounts and out of pocket costs
- Choose in-network or out-of-network doctors
- Whether you need a referral to go to a specialist
- Whether you can get additional benefits
- Distance of travel to get to the doctor or hospital
- How often you travel for business or leisure
To help you make a more informed decision, consider the following:
- Compare the cost of benefits
- Compare the benefits available
- Compare doctors and hospital choices
- Choose the plan that best suits your needs