Understanding Your Medicare Options
Medicare offers several coverage options to meet your healthcare needs. Learn about the different parts of Medicare and find the right combination for you.
Medicare Part A
Hospital Insurance
- Inpatient hospital care
- Skilled nursing facility care
- Nursing home care
- Hospice care
- Home health care
Medicare Part B
Medical Insurance
- Doctor visits
- Outpatient care
- Preventive services
- Lab tests
- Durable medical equipment
Medicare Part C
Medicare Advantage
- Combines Part A & Part B
- Often includes Part D
- May offer additional benefits
- Network of providers
- Annual out-of-pocket maximum
Medicare Part D
Prescription Drug Coverage
- Prescription medications
- Monthly premium
- Annual deductible
- Copayments or coinsurance
- Coverage gap ("donut hole")
Medicare Supplement Insurance (Medigap)
Medicare Supplement Insurance, also known as Medigap, helps pay some of the healthcare costs that Original Medicare doesn't cover, such as:
- Copayments
- Coinsurance
- Deductibles
Medigap policies are sold by private insurance companies and are standardized. Each policy must follow federal and state laws designed to protect you.
Important Medicare Enrollment Periods
Understanding when you can enroll in Medicare is crucial to avoid late enrollment penalties and gaps in coverage.
Initial Enrollment Period
Your first chance to sign up for Medicare.
- 7-month period
- Begins 3 months before your 65th birthday
- Includes your birthday month
- Ends 3 months after your 65th birthday
Annual Enrollment Period
Your yearly opportunity to make changes to your Medicare coverage.
- October 15 - December 7 each year
- Switch from Original Medicare to Medicare Advantage
- Switch from Medicare Advantage to Original Medicare
- Change your Medicare Advantage plan
- Join, switch, or drop a Medicare drug plan
Special Enrollment Period
You may qualify for a Special Enrollment Period in certain situations.
- You move to a new address
- You lose your current coverage
- You have a chance to get other coverage
- Your plan changes its contract with Medicare
Not sure which enrollment period applies to you? Our licensed insurance agents can help you understand your options.
Frequently Asked Questions
Get answers to common questions about Medicare coverage and enrollment.
Medicare Advantage (Part C) is an alternative to Original Medicare (Parts A and B) offered by private insurance companies. These plans typically include Part A, Part B, and often Part D coverage, and may offer additional benefits like dental, vision, and hearing.
Medicare Supplement (Medigap) works alongside Original Medicare to help cover costs like copayments, coinsurance, and deductibles. You must have Original Medicare to get a Medigap policy, and you cannot have both Medicare Advantage and Medigap at the same time.
You can enroll in Medicare during your Initial Enrollment Period, which is a 7-month period that begins 3 months before the month you turn 65, includes your birthday month, and ends 3 months after your birthday month.
If you miss your Initial Enrollment Period, you can sign up during the General Enrollment Period (January 1 - March 31 each year), but you may have to pay a late enrollment penalty. You may also qualify for a Special Enrollment Period if you meet certain criteria, such as losing employer coverage.
Medicare Part A (hospital insurance) is premium-free for most people who have worked and paid Medicare taxes for at least 10 years. However, Medicare Part B (medical insurance) requires a monthly premium, which is typically deducted from your Social Security benefits.
Medicare Advantage (Part C) and Medicare Prescription Drug Plans (Part D) also have monthly premiums that vary by plan. Additionally, all Medicare parts have deductibles, copayments, or coinsurance that you'll need to pay when you receive care.
Original Medicare (Parts A and B) generally does not cover routine dental, vision, or hearing services. However, many Medicare Advantage plans (Part C) offer coverage for these services as additional benefits.
If you have Original Medicare and want coverage for dental, vision, or hearing services, you may need to purchase separate insurance policies specifically for these services.
Yes, you can change your Medicare plan during specific enrollment periods. The Annual Enrollment Period (October 15 - December 7) allows you to make changes to your Medicare coverage, including switching from Original Medicare to Medicare Advantage, changing Medicare Advantage plans, or joining, switching, or dropping a Medicare drug plan.
Additionally, the Medicare Advantage Open Enrollment Period (January 1 - March 31) allows individuals enrolled in a Medicare Advantage plan to switch to a different Medicare Advantage plan or return to Original Medicare (with or without joining a separate Medicare drug plan).
Ready to Find the Right Medicare Plan?
Our licensed insurance agents are ready to help you navigate your Medicare options and find the coverage that best meets your needs and budget.
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