Ten quick and simple general facts to make sure you know when considering your Medicare options:
- Original Medicare includes Parts A and B which are offered through the Federal government.
- Prescription drug coverage, Part D of Medicare, is a standalone add-on to Original Medicare. You can browse Part D Plans by state using our Medicare Part D plans catalog.
- Original Medicare doesn’t cover all of your hospital and medical costs. There are significant coverage gaps that you need to be aware of.
- Medigap insurance plans, sometimes called Medicare Supplements, can help fill in the gaps (e.g., deductibles, co-pays, and coinsurance) that come with Medicare Parts A and B.
- Medicare Advantage plans, Part C of Medicare, are offered by private insurance companies and provide your Part A, Part B and often Part D coverage. Organized by county, you can compare plans available in your area using our Medicare Advantage plans catalog.
- Cost and coverage for Parts A and B are the same all over the US, but Medigap, Medicare Advantage and Part D Plans vary by state and sometimes even by county.
- Those who are currently employed or those who have retiree insurance from a former employer, might not need to enroll in a privately insured Medicare plan. Check with your HR department on how your current plan fits with Medicare. You still might want to enroll in Original Medicare.
- Don’t put off enrolling in Medicare, because if you wait you could end up paying more for your coverage and have fewer choices.
- Medicare allows for freedom and flexibility in plan selection. It’s important to make sure your plan meets your needs. You have the ability to change plans at least once a year.
- Medicare is your right, you earned it! Ask for help and take full advantage of your benefits.
Learn all there is to know about Medicare with these online resources for seniors.