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Updated on 10/2/2024
Medicare 101
Below are the parts of Medicare; what they are and what they cover. By clicking on each part's associated link, you'll be able to dive deeper into the details of each part including out of pocket expenses for each covered service. A little further down this page we explain your plan choices and give you the pros and cons of each plan type.
Covers Inpatient hospitalization, skilled nursing, hospice and home health care services. Click here to find out more.
This is called your "Medical Insurance" (sometimes referred to as "Physician Services"). Part B covers things like doctor office visits, lab tests, MRI’s, outpatient surgery, and so on. Click here to find out more.
This is a way to receive your Part A (hospital), Part B (medical), and in many cases Part D (pharmacy drug coverage) all in one convenient plan. Click here to find out more.
Typically covers prescription drugs that you pick up at a pharmacy. There are only two ways to get Part D coverage.
Click here to find out more.
Did you know there are two ways to receive your Medicare benefits?
Medicare
Option #1
Medicare Supplement + Standalone Drug Plan
You keep Medicare Parts A & B.
-and-
Enroll in a Medicare supplement (a.k.a. “Medigap”) plan to help cover the portion of health care costs Medicare doesn't cover.
- and -
Enroll in a standalone Part D prescription drug plan to cover medications you have filled at a pharmacy.
Option #2
Part C - "Medicare Advantage"
Enroll in a Medicare Advantage plan.
These plans are administered by private health insurance companies with a Medicare contract. Medicare Advantage plans typically incorporate Medicare Parts A, B, and D within one plan.
Not sure which Medicare option is right for you?
Let's take a closer look at the pros and cons of Medicare supplements and Medicare Advantage plans.
Pros and Cons of Medicare Supplement (a.k.a. "Medigap") plans
Medicare supplement plans do exactly what the name suggests: they supplement the health care costs not covered by Medicare. Some people mistakenly assume that Medicare supplement plans offer benefits beyond what Medicare covers. The truth is that Medicare supplement plans follow Medicare benefits like a train and caboose. If Medicare covers a procedure or service, then a Medicare supplement plan will cover the same procedure or service - paying the portion that you are responsible for up to plan limits. Medicare supplement plans are standardized, meaning they offer the same benefits and provider choices regardless of the insurance company. Medicare supplement plans are identified by letters A through N (click here for an overview of Medicare supplement plans and benefits). Premiums are the only difference between Medicare supplement plans with the same letter sold by different insurance companies. The main reason why these plans are popular is because of their portability in that a policy holder can take their plan anywhere in the U.S. to any provider who accepts Medicare. There are no network restrictions and there are no referrals required to see specialist doctors. Medicare supplement plans in general offer more freedom and flexibility compared to Medicare Advantage plans.
Click here to get Medicare supplement rates in your area.
Things to consider regarding Medicare supplements
Medicare supplement plans have premiums that tend to be higher than Medicare Advantage plans and the premiums typically increase as you get older. The other downside is that you will also need to enroll in a standalone prescription drug plan for an additional premium in order to receive Part D prescription drug benefits (click here to find out more about Part D).
Find Medicare Supplement Rates In Your Area
Pros and Cons of Medicare Advantage plans
Medicare Advantage plans have become increasingly popular over the years for a variety of reasons. Most notably the premiums will be considerably lower than Medicare supplement plans and many Medicare Advantage plans include Part D coverage (which eliminates the need to purchase a standalone drug plan). Copays are fairly nominal under most plans for everything from doctor office visits to diagnostic testing, rehabilitation, outpatient surgeries and inpatient hospitalization. Plus, they may also include extra benefits for things that Medicare doesn’t cover - which can go a long way in helping their plan members stay healthy, active and save money on other qualified products & services.
Click here for Medicare Advantage plan options and rates in your area.
Things to consider regarding Medicare Advantage plans
With a few exceptions, Medicare Advantage plans are network based plans. A majority of Medicare Advantage plans are HMO’s which tend to be very network restrictive. As with most HMO plans, if you go out of the network for routine care you will be responsible for the entire cost (NOTE: emergency care is covered in-network for all Medicare Advantage plans regardless of where it occurs). There are Medicare Advantage PPO plans offered in a few areas, but they tend to have higher premiums and out-of-pocket costs (i.e.: deductibles, copays and co-insurance) compared to their HMO counterparts. Even though PPO plans will cover you in the event that you want to see an out of network provider, the out of network costs are typically 50% of charges – which could be too steep for some people. One other thing you want to be especially aware of is the “Out of Pocket Maximum” (sometimes referred to as the "Annual Out of Pocket Maximum" or "Maximum Out of Pocket"). This is the most you could be responsible for in a given year for health care costs. Ideally, if you do choose a Medicare Advantage plan you will want a plan with an Out of Pocket Maximum as low as possible.
Find Medicare Advantage Plans In Your Area
The Bottom Line
Some people find that their doctors are already in a network and they would prefer to save on monthly premiums. They may also be attracted to the ‘extra benefits’ that a Medicare Advantage plan offers. In these cases a Medicare Advantage plan will work very well. On the other hand, some people may have doctors who are not in any networks and/or they may do a lot of traveling. They may also live in more remote areas where Medicare Advantage plan choices are very limited or none at all. In these cases a Medicare supplement plan is much more appropriate. Typically, the right plan option comes down to three things: doctors, drugs and affordability. The questions you need answered when considering any health plan are: Will all of your doctors accept this plan? If not, would you be willing to change any of your doctors? Are all of your medications covered and at reasonable copays? Is the monthly premium(s) affordable or will it leave you strapped at the end of every month?
Most people find it very helpful to talk to a knowledgeable health insurance agent or broker who specializes in Medicare and is appointed and contracted with many insurance companies. Agents and brokers by law are not allowed to charge consumers for advice and/or help with health insurance matters. Your premiums will be the same no matter if you enroll directly through an insurance company or through an agent or broker (agent and broker compensation comes from the insurance companies for the business that they write). Plus a good agent or broker will also advocate on behalf of their Medicare clients on issues that may come up down the road.
Click here to get in touch with a licensed health insurance agent, or call: (877) 888-6315
Medigap or Medicare Advantage? Find out which plan option is best for you by answering these quick questions:
Or Contact Us here. It's free and there's never any obligation!
Find Medicare Plans & Rates In Your Area
Updated on 10/2/2024
Medicare 101
Below are the parts of Medicare; what they are and what they cover. By clicking on each part's associated link, you'll be able to dive deeper into the details of each part including out of pocket expenses for each covered service. A little further down this page we explain your plan choices and give you the pros and cons of each plan type.
Covers Inpatient hospitalization, skilled nursing, hospice and home health care services. Tap here to find out more.
This is a way to receive your Part A (hospital), Part B (medical), and in many cases Part D (pharmacy drug coverage) all in one convenient plan. Tap here to find out more.
Did you know there are two ways to receive your Medicare benefits?
Medicare
Option #1
Medicare Supplement + Standalone Drug Plan
You keep Medicare Parts A & B.
-and-
Enroll in a Medicare supplement (a.k.a. “Medigap”) plan to help cover the portion of health care costs Medicare doesn't cover.
- and -
Enroll in a standalone Part D prescription drug plan to cover medications you have filled at a pharmacy.
Option #2
Part C - "Medicare Advantage"
Enroll in a Medicare Advantage plan.
These plans are administered by private health insurance companies with a Medicare contract. Medicare Advantage plans typically incorporate Medicare Parts A, B, and D within one plan.
Not sure which Medicare option is right for you?
Let's take a closer look at the pros and cons of Medicare supplements and Medicare Advantage plans.
Pros and Cons of Medicare Supplement (a.k.a. "Medigap") plans
Medicare supplement plans do exactly what the name suggests: they supplement the health care costs not covered by Medicare. Some people mistakenly assume that Medicare supplement plans offer benefits beyond what Medicare covers. The truth is that Medicare supplement plans follow Medicare benefits like a train and caboose. If Medicare covers a procedure or service, then a Medicare supplement plan will cover the same procedure or service - paying the portion that you are responsible for up to plan limits. Medicare supplement plans are standardized, meaning they offer the same benefits and provider choices regardless of the insurance company. Medicare supplement plans are identified by letters A through N (tap here for an overview of Medicare supplement plans and benefits). Premiums are the only difference between Medicare supplement plans with the same letter sold by different insurance companies. The main reason why these plans are popular is because of their portability in that a policy holder can take their plan anywhere in the U.S. to any provider who accepts Medicare. There are no network restrictions and there are no referrals required to see specialist doctors. Medicare supplement plans in general offer more freedom and flexibility compared to Medicare Advantage plans.
Tap here to get Medicare supplement rates in your area.
Things to consider regarding Medicare supplements
Medicare supplement plans have premiums that tend to be higher than Medicare Advantage plans and the premiums typically increase as you get older. The other downside is that you will also need to enroll in a standalone prescription drug plan for an additional premium in order to receive Part D prescription drug benefits (tap here to find out more about Part D).
Find Medicare Supplement Rates In Your Area
Pros and Cons of Medicare Advantage plans
Medicare Advantage plans have become increasingly popular over the years for a variety of reasons. Most notably the premiums will be considerably lower than Medicare supplement plans and many Medicare Advantage plans include Part D coverage (which eliminates the need to purchase a standalone drug plan). Copays are fairly nominal under most plans for everything from doctor office visits to diagnostic testing, rehabilitation, outpatient surgeries and inpatient hospitalization. Plus, they may also include extra benefits for things that Medicare doesn’t cover - which can go a long way in helping their plan members stay healthy, active and save money on other qualified products & services.
Tap here for Medicare Advantage plan options and rates in your area.
Things to consider regarding Medicare Advantage plans
With a few exceptions, Medicare Advantage plans are network based plans. A majority of Medicare Advantage plans are HMO’s which tend to be very network restrictive. As with most HMO plans, if you go out of the network for routine care you will be responsible for the entire cost (NOTE: emergency care is covered in-network for all Medicare Advantage plans regardless of where it occurs). There are Medicare Advantage PPO plans offered in a few areas, but they tend to have higher premiums and out-of-pocket costs (i.e.: deductibles, copays and co-insurance) compared to their HMO counterparts. Even though PPO plans will cover you in the event that you want to see an out of network provider, the out of network costs are typically 50% of charges – which could be too steep for some people. One other thing you want to be especially aware of is the “Out of Pocket Maximum” (sometimes referred to as the "Annual Out of Pocket Maximum" or "Maximum Out of Pocket"). This is the most you could be responsible for in a given year for health care costs. Ideally, if you do choose a Medicare Advantage plan you will want a plan with an Out of Pocket Maximum as low as possible.
Find Medicare Advantage Plans In Your Area
The Bottom Line
Some people find that their doctors are already in a network and they would prefer to save on monthly premiums. They may also be attracted to the ‘extra benefits’ that a Medicare Advantage plan offers. In these cases a Medicare Advantage plan will work very well. On the other hand, some people may have doctors who are not in any networks and/or they may do a lot of traveling. They may also live in more remote areas where Medicare Advantage plan choices are very limited or none at all. In these cases a Medicare supplement plan is much more appropriate. Typically, the right plan option comes down to three things: doctors, drugs and affordability. The questions you need answered when considering any health plan are: Will all of your doctors accept this plan? If not, would you be willing to change any of your doctors? Are all of your medications covered and at reasonable copays? Is the monthly premium(s) affordable or will it leave you strapped at the end of every month?
Most people find it very helpful to talk to a knowledgeable health insurance agent or broker who specializes in Medicare and is appointed and contracted with many insurance companies. Agents and brokers by law are not allowed to charge consumers for advice and/or help with health insurance matters. Your premiums will be the same no matter if you enroll directly through an insurance company or through an agent or broker (agent and broker compensation comes from the insurance companies for the business that they write). Plus a good agent or broker will also advocate on behalf of their Medicare clients on issues that may come up down the road.
Tap here to get in touch with a licensed health insurance agent, or call: (877) 888-6315
Medigap or Medicare Advantage? Find out which plan option is best for you by answering these quick questions:
Or Contact Us here. It's free and there's never any obligation!
Find Medicare Plans & Rates In Your Area
Updated on 10/2/2024
Medicare 101
The A, B, C (& D's) of Medicare
Below are the parts of Medicare; what they are and what they cover. By clicking on each part's associated link, you'll be able to dive deeper into the details of each part including out of pocket expenses for each covered service. A little further down this page we explain your plan choices and give you the pros and cons of each plan type.
Covers Inpatient hospitalization, skilled nursing, hospice and home health care services. Tap here to find out more.
This is a way to receive your Part A (hospital), Part B (medical), and in many cases Part D (pharmacy drug coverage) all in one convenient plan. Tap here to find out more.
Did you know there are two ways to receive your Medicare benefits?
Option #1
Medicare Supplement + Standalone Drug Plan
You keep Medicare Parts A & B.
-and-
Enroll in a Medicare supplement (a.k.a. “Medigap”) plan to help cover the portion of health care costs Medicare doesn't cover.
- and -
Enroll in a standalone Part D prescription drug plan to cover medications you have filled at a pharmacy.
Option #2
Part C - "Medicare Advantage"
Enroll in a Medicare Advantage plan.
These plans are administered by private health insurance companies with a Medicare contract. Medicare Advantage plans typically incorporate Medicare Parts A, B, and D within one plan.
Not sure which Medicare option is right for you?
Let's take a closer look at the pros and cons of Medicare supplements and Medicare Advantage plans.
Pros and Cons of Medicare Supplement (a.k.a. "Medigap") plans
Medicare supplement plans do exactly what the name suggests: they supplement the health care costs not covered by Medicare. Some people mistakenly assume that Medicare supplement plans offer benefits beyond what Medicare covers. The truth is that Medicare supplement plans follow Medicare benefits like a train and caboose. If Medicare covers a procedure or service, then a Medicare supplement plan will cover the same procedure or service - paying the portion that you are responsible for up to plan limits. Medicare supplement plans are standardized, meaning they offer the same benefits and provider choices regardless of the insurance company. Medicare supplement plans are identified by letters A through N (tap here for an overview of Medicare supplement plans and benefits). Premiums are the only difference between Medicare supplement plans with the same letter sold by different insurance companies. The main reason why these plans are popular is because of their portability in that a policy holder can take their plan anywhere in the U.S. to any provider who accepts Medicare. There are no network restrictions and there are no referrals required to see specialist doctors. Medicare supplement plans in general offer more freedom and flexibility compared to Medicare Advantage plans.
Tap here to get Medicare supplement rates in your area.
Things to consider regarding Medicare supplements
Medicare supplement plans have premiums that tend to be higher than Medicare Advantage plans and the premiums typically increase as you get older. The other downside is that you will also need to enroll in a standalone prescription drug plan for an additional premium in order to receive Part D prescription drug benefits (tap here to find out more about Part D).
Find Medicare Supplement Rates In Your Area
Pros & Cons of Medicare Advantage Plans
Medicare Advantage plans have become increasingly popular over the years for a variety of reasons. Most notably the premiums will be considerably lower than Medicare supplement plans and many Medicare Advantage plans include Part D coverage (which eliminates the need to purchase a standalone drug plan). Copays are fairly nominal under most plans for everything from doctor office visits to diagnostic testing, rehabilitation, outpatient surgeries and inpatient hospitalization. Plus, they may also include extra benefits for things that Medicare doesn’t cover - which can go a long way in helping their plan members stay healthy, active and save money on other qualified products & services.
Tap here for Medicare Advantage plan options and rates in your area.
Things to consider regarding Medicare Advantage plans
With a few exceptions, Medicare Advantage plans are network based plans. A majority of Medicare Advantage plans are HMO’s which tend to be very network restrictive. As with most HMO plans, if you go out of the network for routine care you will be responsible for the entire cost (NOTE: emergency care is covered in-network for all Medicare Advantage plans regardless of where it occurs). There are Medicare Advantage PPO plans offered in a few areas, but they tend to have higher premiums and out-of-pocket costs (i.e.: deductibles, copays and co-insurance) compared to their HMO counterparts. Even though PPO plans will cover you in the event that you want to see an out of network provider, the out of network costs are typically 50% of charges – which could be too steep for some people. One other thing you want to be especially aware of is the “Out of Pocket Maximum” (sometimes referred to as the "Annual Out of Pocket Maximum" or "Maximum Out of Pocket"). This is the most you could be responsible for in a given year for health care costs. Ideally, if you do choose a Medicare Advantage plan you will want a plan with an Out of Pocket Maximum as low as possible.
Find Medicare Advantage Plans In Your Area
The Bottom Line
Some people find that their doctors are already in a network and they would prefer to save on monthly premiums. They may also be attracted to the ‘extra benefits’ that a Medicare Advantage plan offers. In these cases a Medicare Advantage plan will work very well. On the other hand, some people may have doctors who are not in any networks and/or they may do a lot of traveling. They may also live in more remote areas where Medicare Advantage plan choices are very limited or none at all. In these cases a Medicare supplement plan is much more appropriate. Typically, the right plan option comes down to three things: doctors, drugs and affordability. The questions you need answered when considering any health plan are: Will all of your doctors accept this plan? If not, would you be willing to change any of your doctors? Are all of your medications covered and at reasonable copays? Is the monthly premium(s) affordable or will it leave you strapped at the end of every month?
Most people find it very helpful to talk to a knowledgeable health insurance agent or broker who specializes in Medicare and is appointed and contracted with many insurance companies. Agents and brokers by law are not allowed to charge consumers for advice and/or help with health insurance matters. Your premiums will be the same no matter if you enroll directly through an insurance company or through an agent or broker (agent and broker compensation comes from the insurance companies for the business that they write). Plus a good agent or broker will also advocate on behalf of their Medicare clients on issues that may come up down the road.
Tap here to get in touch with a licensed health insurance agent, or call: (877) 888-6315
Medigap or Medicare Advantage?
Find out which plan option is best for you by answering these quick questions:
Or Contact Us here. It's free and there's never any obligation!
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© MedicareOptions360.com
By using this site, you acknowledge that you have read and agree to the Terms of Service and Privacy Policy. Please read our privacy policy carefully to get a clear understanding of how we collect, use, protect or otherwise handle your Personally Identifiable Information in accordance with our website. MedicareOptions360.com is privately owned and operated by Alderette Insurance Agency, Inc. Submission of your information constitutes permission for an agent to contact you with additional information about the cost and coverage details of health plans. Possible options include, but are not limited to Major Medical Plans, Short Term Plans, Dental Plans, Vision Plans, and more. Descriptions are for informational purposes only and may be subject to change. Insurance plans may not be available in all states. For a complete description, please call 1-877-888-6315 to determine eligibility and to request a copy of the applicable policy. MedicareOptions360.com is not affiliated with or endorsed by the United States government or the federal Medicare program. 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, 1-800-MEDICARE or your local State Health Insurance Program (TTY users should call 1-877-486-2048) 24 hours a day/7 days a week to get information on all of your options. Our company complies with applicable state laws and federal civil rights laws and does not discriminate, exclude people, or treat them differently on the basis of race, color, national origin, ethnic group identification, medical condition, genetic information, ancestry, religion, sex, marital status, gender, gender identity, sexual orientation, age, mental disability, or physical disability.
By using this site, you acknowledge that you have read and agree to the Terms of Service and Privacy Policy. Please read our privacy policy carefully to get a clear understanding of how we collect, use, protect or otherwise handle your Personally Identifiable Information in accordance with our website. MedicareOptions360.com is privately owned and operated by Alderette Insurance Agency, Inc. Submission of your information constitutes permission for an agent to contact you with additional information about the cost and coverage details of health plans. Possible options include, but are not limited to Major Medical Plans, Short Term Plans, Dental Plans, Vision Plans, and more. Descriptions are for informational purposes only and may be subject to change. Insurance plans may not be available in all states. For a complete description, please call 1-877-888-6315 to determine eligibility and to request a copy of the applicable policy. MedicareOptions360.com is not affiliated with or endorsed by the United States government or the federal Medicare program. 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, 1-800-MEDICARE or your local State Health Insurance Program (TTY users should call 1-877-486-2048) 24 hours a day/7 days a week to get information on all of your options. Our company complies with applicable state laws and federal civil rights laws and does not discriminate, exclude people, or treat them differently on the basis of race, color, national origin, ethnic group identification, medical condition, genetic information, ancestry, religion, sex, marital status, gender, gender identity, sexual orientation, age, mental disability, or physical disability.
© MedicareOptions360.com
By using this site, you acknowledge that you have read and agree to the Terms of Service and Privacy Policy. Please read our privacy policy carefully to get a clear understanding of how we collect, use, protect or otherwise handle your Personally Identifiable Information in accordance with our website. MedicareOptions360.com is privately owned and operated by Alderette Insurance Agency, Inc. Submission of your information constitutes permission for an agent to contact you with additional information about the cost and coverage details of health plans. Possible options include, but are not limited to Major Medical Plans, Short Term Plans, Dental Plans, Vision Plans, and more. Descriptions are for informational purposes only and may be subject to change. Insurance plans may not be available in all states. For a complete description, please call 1-877-888-6315 to determine eligibility and to request a copy of the applicable policy. MedicareOptions360.com is not affiliated with or endorsed by the United States government or the federal Medicare program. 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, 1-800-MEDICARE or your local State Health Insurance Program (TTY users should call 1-877-486-2048) 24 hours a day/7 days a week to get information on all of your options. Our company complies with applicable state laws and federal civil rights laws and does not discriminate, exclude people, or treat them differently on the basis of race, color, national origin, ethnic group identification, medical condition, genetic information, ancestry, religion, sex, marital status, gender, gender identity, sexual orientation, age, mental disability, or physical disability.