Finding the best
Medicare plan
You have so many options. You can choose Original Medicare featuring Parts A, B and D, as well as Medigap. Or you can choose Medicare Advantage as a one-stop shop alternative. Needless to say, you have a lot of choices. Fortunately, we’re here to help find the perfect fit for you and your needs.
The ABCs of Medicare
Original Medicare
Part A-Hospital Insurance
Part A covers inpatient hospital stays, care in a skilled nursing facility, hospice care and some home health care. This form of Medicare is free for most people.
Original Medicare
Part B-Medical Insurance
Part B covers certain doctor services, outpatient care, medical supplies and preventive services. There is a monthly premium for Part B.
Medicare Advantage
Part C
Part C is another term for Medicare Advantage plans. These plans include Part A and Part B coverage and add additional benefits.
Prescription Drug Coverage
Part D
Part D helps cover the cost of prescription drugs. You join a Medicare drug plan in addition to Original Medicare, or you get it by joining a Medicare Advantage Plan with drug coverage.
Plan Options
There’s a perfect plan out there just for you. When you first sign up for Medicare and during certain times of the year, you can choose which way to get your Medicare coverage. There are 2 main ways:
Original Medicare
Benefits are administered by the federal government
Part A and Part B, but may purchase a Medicare Supplement (Medigap) plan for additional coverage. Will also need to purchase Part D.
Can use any provider in the U.S. who accepts Medicare
Not available
Not available
Not available
Not available
Must purchase Part D
VS
Plan Management
Plan Parts
Network Coverage
Dental Coverage
Vision Coverage
Hearing Coverage
Gym Membership Discounts
Prescription Drug Coverage
Medicare Advantage
Benefits are administered by a private insurance company
Part A,B and C, and most include Part D as well
Must use in-network providers
Available on some plans
Available on some plans
Available on some plans
Available on some plans
Available on some plans
Original Medicare |
VS |
Medicare Advantage |
|---|---|---|
| Benefits are administered by the federal government | Plan Management | Benefits are administered by a private insurance company |
| Part A and Part B, but may purchase a Medicare Supplement (Medigap) plan for additional coverage. Will also need to purchase Part D. | Plan Parts | Part A,B and C, and most include Part D as well |
| Can use any provider in the U.S. who accepts Medicare | Network Coverage | Must use in-network providers |
| Not available | Dental Coverage | Available on some plans |
| Not available | Vision Coverage | Available on some plans |
| Not available | Hearing Coverage | Available on some plans |
| Not available | Gym Membership Discounts | Available on some plans |
| Must purchase Part D | Prescription Drug Coverage | Available on some plans |
Enrollment Period Chart
Oct 15
-
Dec 7
Open Enrollment
Period (OEP)
The OEP is for anyone with current Medicare coverage to make a change to their Medicare Plans.
Jan 1
-
Mar 31
Medicare Advantage
Open Enrollment Period
Anyone with Medicare Advantage can make a change.
Depends
on
Eligibility
Initial Enrollment
Period (IEP)
The IEP begins three months before your 65th birthday and ends three months after. Those not age 65 will have a separate IEP.
Jan 1
-
Mar 31
General
Enrollment Period (GEP)
The GEP is the time to enroll in Part A and Part B when you have missed your Initial Enrollment Period.
Depends
on
Eligibility
Special
Enrollment Period (SEP)
The SEP allows enrollment immediately after you lose group health plan coverage from your employer. SEP enrollment begins the month after you lose group health plan coverage and ends 8 months after.
The most common Medicare questions, answered
A. Outside of a disability or illness, you are eligible for Medicare at age 65.
A. Social Security offers you a quick online application for Medicare.
Fill out the form and you’ll be done in minutes. Just visit the Social Security website, follow the links and you’ll have applied for Medicare.
Fill out the form and you’ll be done in minutes. Just visit the Social Security website, follow the links and you’ll have applied for Medicare.
A. No, but you’ll be hit with significant penalties for late enrollment. If you have other credible medical coverage—or coverage that meets or exceeds the coverage offered by Medicare—you can continue using that without incurring penalties when you do eventually apply.
A. For most people, initial enrollment—a seven-month window built around your 65th birthday—is the best time to enroll in Part A and Part B. Do this to avoid any penalties and gaps in coverage.
A. When you apply for your Social Security benefit and you are age 65 or older, Social Security will automatically enroll you in Medicare Parts A and B. If you are not receiving your Social Security benefit, you will need to enroll in Medicare by accessing your online Social Security account or by calling Social Security.
Need additional help?
The best way to get started
Now that you have a general working knowledge of Medicare and its processes, let’s get shopping for your best plan. Don’t worry, we’re here to help you every step of the way. Just click the link below and we can continue the journey together.