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, everything covered by Original Medicare must be covered by Medicare Advantage plans, 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.