Are there different types of Medicare plans and what if I only want certain coverage?

Medicare offers several different types of Medicare plans. Although all Medicare plan types are not necessarily available in your area, everyone enrolled in Medicare has a choice of at least one other type of Medicare or Medicare Advantage plan in addition to Original Medicare.

 

Depending on where you live, you may have different Medicare and Medicare Advantage options. When you first get Medicare, you are in the Original Medicare Plan. You may want to consider a Medicare Prescription Drug Plan in order to add prescription drug coverage. You may want to consider a Medicare Plan, such as HMO Medicare or PPO Medicare, that provides all your Medicare Part A, Medicare Part B, and often Medicare Part D prescription drug coverage.

 

If you choose the Original Medicare Plan, you may want to consider a Medicare Supplemental Policy, Medigap. You would have to make a Medicare Supplemental choice when you are first eligible for Medicare. Each year you can review your health and prescription needs and switch to a different Medicare or Medicare Advantage plan in the fall.

 

Different Medicare Plans:

1. The Original Medicare Plan

2. Medicare Advantage Plans

   • Health Maintenance Organization (HMO) Medicare

   • Preferred Provider Organizations (PPO) Medicare

   • Private-Fee-For-Service (PFFS) Medicare

   • Medical Savings Account (MSA) Medicare

3. Medicare Prescription Drug Plans

 

A few helpful steps to choosing the right Medicare plan:

Every individual has unique needs and concerns when it comes to health care coverage. Some people are most concerned about keeping their costs down. Other people prefer going to any doctor they chose.

 

There are some main differences among all the Medicare plans

 

1. Think about what's important to you

   • Different premium amounts and out of pocket costs

   • Choose in network or out of network doctors

   • Whether you need a referral to go to a specialist

   • Whether you can get additional benefits

   • Distance of travel to get to the doctor or hospital

   • How often you travel for business or leisure

2. Compare the Cost of Benefits

3. Compare the Benefits Available

4. Compare Doctors and Hospital Choices

5. Compare the Quality of plan

6. Choose the Plan that Best Suits Your Needs