Understanding your Medicare options is important because the right coverage can help protect you from unexpected medical costs. You generally have two main choices: Original Medicare with a Medicare Supplement policy or a Medicare Advantage plan.
A Medicare Supplement, also called Medigap, works alongside Original Medicare Parts A and B. It helps pay certain deductibles, copayments and coinsurance that Original Medicare leaves behind. These policies usually have a separate monthly premium and typically don’t include prescription coverage, so you may also need a separate Part D plan.
Medicare Advantage replaces how you receive your Part A and Part B benefits through a private insurance company. Plans may have low or even $0 additional premiums and can include prescription drugs, dental, vision, hearing and other benefits. However, provider networks, copayments, prior authorization requirements and covered medications can vary by plan. You must continue paying your Medicare Part B premium.
You cannot use a Medicare Supplement and Medicare Advantage plan together. The right choice depends on your doctors, prescriptions, budget, travel needs and preferred level of flexibility. I offer free, unbiased Medicare guidance to help you compare available options and understand the differences.