Compare Your Medicare Plan Options
Knowing your Options
As a new enrollee in the Medicare system, it is important to consider your options for healthcare. Although there are many Americans who all fall under the coverage of Medicare, coverage can differ greatly from person to person. This is due to the fact that there are multiple options for coverage and benefits all under the umbrella of Medicare. It is very important to compare Medicare plans to make sure you are saving money where you can while getting the coverage you need.
The Four main types of plans
- Part A- The first option you have when you first enroll in Medicare is to stick with your Original Part A coverage. Part A is hospital insurance and, as the name would suggest, it covers expenses incurred from hospital visits. Many people choose this option when they are still working and receiving healthcare benefits from their employer. Part A does not have a monthly premium associated with it, so this option is very inexpensive. There is, however, a downside. Part A coverage will leave you paying for the full cost of any medical treatment outside of a normal hospital visit. That means you'll pay in full for all your doctor visits, prescription drugs, and any other medical necessities outside of a hospital. This is why many people opt for a part B plan.
- Part B- Part B is your medical coverage. Things like doctor visits, medical tests, and preventive treatments fall under part B coverage. It does require a small monthly premium, but that is deducted from your social security payment automatically to make things less complicated. If you are looking to get help paying for visits to the hospital or your doctor, Original Medicare, Part A and B, is a great option. But what if you need more benefits for your health care?
- Part C & Part D- Medicare Part C and Part D help pay for things beyond original Medicare. Part D is prescription drug coverage. It can exist on its own as a private plan separate from original Medicare, or as part of a Part C Advantage Plan. Part C plans group original Medicare with other benefits, such as vision or dental treatment, into a single private plan.
Are there copays for each plan?
All four parts, A,B,C, and D, require a 20% copay on treatment, but even when accounting for the monthly premium, you will still pay less than the full cost of your benefits. If you want to avoid copays altogether, there is still one option left to compare.
What is a Medicare Supplement Plan?
Medicare Supplement Plans eliminate copays in favor of a monthly premium. If the cost of your medical treatment is exceptionally high, a Supplement Plan could be very beneficial to you. Supplement plans do not add benefits to your Medicare coverage, but for many people they provide the necessary coverage to make medical treatment affordable. For information on AARP's sponsored Medicare supplement plans offered through UnitedHealthcare, click here.
Regardless of what plan you end up choosing, the important thing is to compare your Medicare plan options. By comparing your options you can assure you'll get the best coverage and save the most money. Remember, you can always leave the research up to us at HealthPlanOne. Our expert Medicare specialists have access to the most up to date information and will present it to you in simple and precise terms. That way you'll be able to make the best and most informed decision for your Medicare coverage.