Accounts Receivable Supervisor Laura Cox speaks with numerous clients in a day. More often than not, many clients are unclear on their Medicare plans and what each part covers. The two Medicare plans are Original Medicare and Medicare Advantage Plan.
Original Medicare includes Medicare Part A (Hospital Insurance) and Part B (Medical Insurance). If you choose Original Medicare, you can also decide to:
- Join a separate Medicare drug plan Part D, if you want drug coverage.
- Add other insurance (Medicare Supplemental Insurance (Medigap) Medicaid, employee or union coverage) to help pay your out-of-pocket costs (like your 20% coinsurance).
Another option would be a Medicare Advantage Plan; this plan is an “all in one” alternative to Original Medicare. This plan combines Part A, Part B and usually Part D and may have lower out-of-pocket costs. In many cases, for the lowest costs, you will need to use doctors and other providers who are already in the plan’s network and service area. Most of these plans also offer extra benefits that Original Medicare doesn’t such as vision, hearing and dental. The breakdown of parts includes:
- Part A, Hospital Insurance
- Part B, Medical Insurance
- Part C, Medicare Advantage Plans
- Plan F, Coverage Gap Plans
For further information on Medicare or to get started, click the link here.