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Understanding your Medicare plan options

Original Medicare, Medicare Advantage, Part D and Medigap

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  • March 4, 2015

The way Medicare plans are alphabetized – from “A” to “D” – one might be fooled into thinking that there are but a few options to consider. Unfortunately, deciding which Medicare coverage is right for you is definitely not as easy as a multiple-choice question with a single right answer.

Medicare was designed with the idea that the vast majority of Americans would eventually receive a uniform level of coverage and care once they became eligible. And recipients do receive a basic level of care, but that basic level is riddled with coverage gaps.

To figure out how you can fill those gaps, you’ll need to have a basic understanding of the following plans:

original-medicare

Original Medicare

March 5, 2015 – Also called traditional Medicare, it is the fee-for-service program in which the government pays your health care costs. The coverage… Read more

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Medicare Part A – hospital insurance

March 5, 2015 – Medicare Part A coverage, commonly known as "hospital insurance," pays for a broad range of inpatient care in hospitals, skilled nursing… Read more

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Medicare Part B – outpatient coverage

March 5, 2015 – Medicare Part B picks up - to a large extent - where Medicare Part A leaves off, covering many of the outpatient services and products not… Read more

medicare-advantage

Medicare Advantage (Part C) private…

March 5, 2015 – Medicare offers enrollees the option of going above and beyond their Original Medicare coverage by enrolling in Medicare… Read more

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Medicare Part D – prescription drug…

March 5, 2015 – About 27 million Americans will receive a price break on prescription drug costs through Medicare Part D coverage, either through a… Read more

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Medigap – Medicare supplement…

March 5, 2015 – Millions of Medicare beneficiaries purchase Medicare supplement insurance to get help with Medicare expenses, including copayments,… Read more