When you first sign up for Medicare and during certain times of the year, you can choose how to get your coverage. Choosing a healthcare plan is a very important decision, and we can help you feel confident in your choice(s). Let’s look at your two primary Medicare insurance options and identify some pros and cons of each decision.
Option 1: Original Medicare
Original Medicare includes Part A (inpatient hospital care) and Part B (outpatient medical care). It’s offered by the federal government.
If you want prescription drug coverage, you can join a standalone Part D plan. You can also add a Medicare Supplement (Medigap) plan to help pay the deductibles, coinsurance, and copayments not covered by Parts A and B.
Option 2: Medicare Advantage
Medicare Advantage (Part C) is an “all-in-one” alternative to Original Medicare, offered through private insurance companies. There are different types of Advantage plans sold in different areas, but members will certainly get all their Original Medicare benefits. Many plans also offer Part D coverage, and some include extra benefits like transportation or gym memberships.
We Insure Your Health.
When it comes to choosing your path, there are different factors to consider such as the costs, potential waiting periods, and coverage of each program. It’s important to know how to manage these variables as you age. If your health improves or declines, that will affect your Medicare decisions. The good news is, you never have to make these choices alone!
When Original Medicare May Be Best for You
If you’re okay with paying some higher premiums, prefer low out-of-pocket expenses, want more freedom to choose doctors, and/or are managing a chronic health condition, Original Medicare is the better choice for you.
When a Medicare Advantage Plan May Work for You
To those who are enrolled in Parts A and B, Medicare Advantage is an appealing option for the additional perks for a low premium. If you’re okay with paying some copayments and deductibles and willing to “play by the rules” (see doctors in the plan’s network), then an Advantage plan is likely a good option for you.
Medicare Made Easy
If you need help understanding your Medicare options or you’re considering changing your coverage, we’re here for you! Contact Oak Haven Insurance for a FREE consultation. We’ll make a recommendation based on your healthcare needs.
