Your Medicare Options
Option 1 – Original Medicare (Parts A and B)
If you choose Original Medicare, Parts A and B, you may decide to add on a stand-alone Part D plan for prescription drug coverage and/or Medigap for costs not covered by Parts A and B. Part D and Medigap are available through private insurance companies.
- Part A – Helps cover the cost of inpatient hospital stays, skilled nursing facilities, hospice care and some home health care services. There is no premium for most people.
- Part B – Helps cover doctor visits, outpatient care and some home health services. Most people pay a premium based on income.
- Stand-Alone Part D (PDP) – Helps cover the cost of outpatient prescription drugs. There are monthly premiums paid to a private insurance company. NOTE: Enroll when you first become eligible or you may be subject to penalties later.
- Medigap – There are several standardized plans available through private insurance companies that help cover costs not covered by Parts A and B.
Option 2 – Medicare Advantage plan (Part C)
If you choose a Medicare Advantage plan through a private insurance company, you usually have coverage for the same services covered by Parts A and B, but your cost sharing will differ from Original Medicare. Additional benefits may also be included in the plan.
- Part C – Medicare Advantage plan – Helps cover inpatient hospital care and outpatient care, such as doctor visits, preventive health screenings and other services.
- Part D – Outpatient prescription drug coverage is included in most Medicare Advantage plans.
- Additional benefits – Some plans may include routine vision, routine hearing, routine and preventive dental, wellness programs and more as part of the plan.
- Supplemental benefits – Some plans may include additional coverage, such as dental, for a fee. You must elect to have this coverage.