Understanding Medicare Options
After you enroll in Medicare Part A and B ( Original Medicare), there are two ways to get additional coverage.
Option 1: Purchase for a monthly premium a Medicare Supplement plan also known as Medigap, help fill in the gaps that original medicare does not cover. Some examples are it could pay for copayments, deductibles, and coinsurance. These plans are sold by private insurance companies. Once Medicare pays its share of the approved amount then the Medicare supplement/Medigap policy pays its share of the cost. “Since January 1, 2006, Medicare Supplement policies do not include prescription drug coverage. If you have a Medicare Supplement policy without prescription drug coverage, you can join a Medicare Prescription Drug Plan (Part D) during the Medicare Advantage Annual Enrollment Period (AEP).”
- Part C – Combines Part A ( Hospital insurance) and Part B ( Medical Insurance)
- Part D – It may include prescription drug coverage.
- It may offer additional benefits not provided by original medicare