Medicare covers many of your health care needs. Today’s Medicare is working with private companies approved by Medicare that provide different ways to get your health care and prescription drug coverage in the Medicare Program. The Medicare plan that you choose affects many things like cost, benefits, doctor choice, convenience, and quality.
Your Medicare plan choices include:
The Original Medicare Plan
This is a fee-for-service plan that covers many health care services and certain drugs. You can go to any doctor or hospital that accepts Medicare. When you get your health care, you use your red, white, and blue Medicare card.
The Original Medicare Plan pays for many health care services and supplies, but it doesn’t pay all of your health care costs. There are costs that you must pay, like coinsurance, copayments, and deductibles. These costs are called “gaps” in Medicare coverage.
You might want to consider buying a Medigap policy to cover these gaps in Medicare coverage. You can also add prescription drug coverage by joining a Medicare Prescription Drug Plan.
Medicare Advantage Plans
Available in many areas. If you have one of these plans, you don’t need a Medigap policy.
These plans include:
Health Maintenance Organizations (HMO)
Preferred Provider Organizations (PPO)
Private Fee-for-Service Plans
Medicare Special Needs Plans
Medicare Medical Savings Account Plans (MSA)
These plans may cover more services and have lower out-of-pocket costs than the Original Medicare Plan. Some plans cover prescription drugs. In some plans, like HMOs, you may only be able to see certain doctors or go to certain hospitals to get covered services.
Medicare Supplement (or "Medigap") insurance plans help fill "gaps" in Original
Medicare and are sold by private companies. Original Medicare pays for much, but not all,
of the cost for Medicare-covered healthcare services and supplies.
Medicare Supplement insurance plans:
Might help pay your Medicare Part A and Part B out-of-pocket expenses like deductibles, coinsurance, and copayments.
Are standardized across most of the country. Select plans have some benefits in common, but it's important to compare plan options to ensure they meet your coverage needs.
Medicare Prescription Drug Plans
These stand-alone plans add prescription drug coverage to:
The Original Medicare Plan
Some Medicare Cost Plans
Some Medicare Private Fee-for-Service Plans
Medicare Medical Savings Account Plans
Need Help Paying for Health Care Costs?
There are wide ranges of health care coverage choices that may help pay for some of your health care costs. These health care choices work with the benefits you have from Medicare. What you choose will affect how much you pay, what benefits you have, which doctors you can see, and other things that may be important to you. For more information about programs that may help pay for some of your health care costs, please call or email me today.
We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options.