Simple Medicare Guide: Compare Original Medicare, Medicare Advantage, and Medicare Supplement
Enrolling in Medicare can be confusing. There are multiple plan types and enrollment periods, which can feel overwhelming. However, navigating Medicare does not have to be difficult. This simple Medicare guide helps you compare Original Medicare, Medicare Advantage, and Medicare Supplement options before making a coverage decision.
What This Guide Covers
This Medicare guide is meant to inform you about your coverage options.
You can choose from Original Medicare, Medicare Advantage, or Medicare Supplement plans. This guide explains the differences between these options, including what they cover, how they work, and when you can enroll.
Understanding the different types of Medicare can help you make an informed decision when the time is right.
Original Medicare Basics
Original Medicare is a federal health insurance program made up of two parts. Medicare Part A is hospital insurance and generally helps cover hospital stays, hospice care, and some home healthcare services. It also includes Medicare Part B, which helps cover doctor visits, preventive care, lab work, and screenings. Part B usually requires a monthly premium.
With Original Medicare, you can visit any doctor or hospital that accepts Medicare. Coverage is managed directly by the federal government.
Most people can enroll during their Initial Enrollment Period, which begins 3 months before turning age 65, includes their birth month, and continues for 3 months after their birth month.
Medicare Advantage Basics
Medicare Advantage, often referred to as Medicare Part C, is offered by private insurance companies approved by Medicare. These plans typically include all the benefits of Medicare Part A and Medicare Part B, along with additional benefits such as prescription drug coverage, vision coverage, hearing benefits, and wellness or fitness programs.
With Medicare Advantage, most plans use provider networks such as HMO or PPO networks. You may need to use doctors and hospitals within the plan’s network to receive covered services. These plans typically include additional benefits beyond Original Medicare.
Medicare Supplement Basics
Medicare Supplement Insurance plans, also referred to as Medigap, are offered by private insurance companies and are designed to help cover some of the out-of-pocket costs associated with Original Medicare. These plans do not replace Medicare, but instead work alongside it.
Medicare Supplement plans may help cover expenses such as copayments, coinsurance, and deductibles. These plans can also work well for individuals who travel outside of the United States.
Medigap plans have standardized benefits, meaning the coverage is generally the same across different insurance companies, although prices and customer service may vary. To enroll in a Medicare Supplement plan, you must already be enrolled in both Medicare Part A and Medicare Part B.
Once enrolled, you will pay a monthly premium for your Medigap plan. In return, you can generally visit any doctor or hospital that accepts Medicare without network restrictions and usually without needing referrals. These plans can help lower overall out-of-pocket healthcare costs.
How to Compare our Options
From Original Medicare to Medicare Advantage and Medicare Supplement Insurance plans, there are multiple coverage options to choose from. Use this guide to compare plan types and find coverage that best fits your healthcare needs and budget.
When comparing plans, be sure to review coverage details and provider network eligibility to help ensure you choose a plan that works best for you. Be sure to enroll on time so you can get the Medicare coverage you need when you become eligible.
Explore Your Medicare Options
Understanding your Medicare options can help you choose coverage with confidence. Explore plan types, benefits, and enrollment information.
Download the Simple Medicare Guide PDF