Original Medicare (Part A and B) and Medicare Advantage (Part C) are great ways seniors can access affordable healthcare. However, just because one Medicare option may be right for one individual does not mean it will be the right option for another individual. This is why it is important to assess your Medicare options to determine which plan will provide the coverage you are looking for. Because Original Medicare and Medicare Advantage are two of the most common Medicare options, let’s go over what makes them different so you can make a more informed decision about your coverage.
What is Original Medicare?
Original Medicare is typically what new enrollees are enrolled in first when they become eligible for Medicare. Original Medicare combines two parts (A and B) which cover inpatient and outpatient care. Once enrolled in Original Medicare, you can sign up for Medicare part D, which covers prescription drugs. You can also add on a Medicare Supplement (Medigap) plan to add additional coverage for out-of-pocket costs, like deductibles or copayments.
With Original Medicare, patients can visit any hospital, doctor, or healthcare provider that accepts Medicare.
What is Medicare Advantage?
Medicare Advantage plans offer all the benefits of Original Medicare but with added features and services. These “bundled” plans include Part A, Part B, and usually Part D. They may have lower out-of-pocket costs than Original Medicare and may offer some extra benefits that Original Medicare doesn’t cover—like vision, hearing, and dental services. However, not all Medicare Advantage plans offer additional benefits. Before enrolling in a Medicare Advantage plan under the notion that it will provide you with extra benefits, make sure you check with the plan first.
Some Medicare Advantage plans may also limit your coverage to a specific provider network. This means that if you go outside your plan’s network to receive your healthcare, you could be paying most, if not all, of those costs out-of-pocket. Whereas, if you were to stay within your plan’s provider network, you would be paying much less.
Which Plan is Better for Me?
Which plan is best for you ultimately depends on the type of coverage you’re looking for and if you prefer nationwide coverage to specific provider network coverage.
To learn more about your Medicare options and how to find a plan that meets all of your needs, give Toni Buffington Medicare Solutions a call today!