Compare Options

Deciding between Original Medicare and Medicare Advantage is ultimately up to you as it really depends on the type of coverage you are looking for. These are the 2 PATHS for going on Medicare. Path 1 is staying with Original Medicare, then selecting a Medicare Supplement and Part D Drug Plan that fits your needs. Path 2 is selecting a Medicare Advantage Plan instead of Original Medicare that fits your needs.

If you choose to stick with Original Medicare with a Medicare Supplement and Part D drug plan, you will receive hospital and medical insurance anywhere in the United States that accepts Medicare. Depending on the Medicare Supplement Plan you select, after Medicare pays its portion of a medical bill, the plan could cover most or all of the deductibles, coinsurance, and copayments that would have been your responsibility. The prescription plan you select will be based on your medications and pharmacy you use.

If you decide to opt for a Medicare Advantage Plan, there are several plans to consider:

• Health Maintenance Organization (HMO): HMO Plans will typically require you to choose a primary care physician within their network, as well as get referrals from this physician to see a specialist. However, despite the lack of flexibility, HMO Plans generally cost less than the other Medicare Advantage Plans.

• Preferred Provider Organization (PPO): With a PPO Plan, you are not required to select a primary care physician or get referrals to see specialists. You will typically have the option to receive your care outside of the plan’s network of providers, but keep in mind you will pay more if you do so.

• Special Needs Plans (SNP): SNPs are strictly limited to certain individuals with specific needs. The three types of SNPs include: Chronic-Condition, Dual-Eligible, and Institutional Plans. These three types are what will determine your eligibility. These plans are also required by Medicare to provide prescription drug coverage.

• Private-Fee-For-Service (PFFS): PFFS Plans do not require you to select a primary care physician or get referrals. There is a possibility that PFFS Plans will have a provider network, but you can typically still receive care outside the network as long as the provider accepts the plan’s terms and conditions.

• Medicare Medical Savings Account (MSA): MSA Plans include a high deductible and bank account. To begin receiving coverage, you will need to pay the high deductible. The plan will also deposit funds into the bank account that can be used to pay on the deductible. However, the funds deposited will be lower than the cost of the deductible.

By reviewing each of these advantage plans and comparing how they work, you can better understand what plan fits your needs and what you would qualify for. Nearly all Medicare Advantage Plans have copayments and coinsurance and you will still have to pay these costs. Medicare Advantage Plans do provide the same coverage as Original Medicare A & B, but they also can provide additional coverage. This coverage can include prescription drug coverage, dental coverage, vision coverage, and hearing coverage.