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Medicare Coverage Options
When it comes to choosing the right Medicare coverage, it is important to understand all of your options. We’re here to help you make the right choice – that’s the Benefit of Blue.
Why Purchase Other Medicare Coverage?
Medicare Part A and Part B (Original Medicare) do not cover all medical expenses. Additional coverage could help you better manage or limit your out-of-pocket expenses.
For example, Medicare Part A and Part B do not cover:
-Hearing aids
-Routine vision care
-Routine dental care
-Extended long-term care
-Custodial care
Other Medicare coverage is available through private health insurance companies:
Medicare Advantage (Part C)
Medicare Advantage plans provide an alternative to Original Medicare. They offer Parts A and B services and often include additional benefits, such as wellness programs, hearing aids and eye exams. You must have Medicare Parts A and B to enroll in a Medicare Advantage plan.
Prescription Drug Coverage (Part D)
Prescription Drug Coverage (Part D)
Medicare Part D is Medicare prescription drug coverage. You can get Part D coverage from your Medicare Advantage plan or, if you are enrolled in Original Medicare, you can get it through a stand-alone Medicare Prescription Drug plan available in your area.
Medigap (Medicare Supplement)
Medigap plans are state-regulated insurance policies for individuals who receive Medicare coverage through Original Medicare. Medigap plans vary in what they cover, but help pay some of the health care costs that Original Medicare doesn't cover and may cover other extra benefits. You must have Part A and Part B to enroll in a Medigap plan.
Your Options at a Glance
Option 1
Original Medicare Only with Drug Plan
Original Medicare will provide Part A and Part B coverage. With just Original Medicare, there are still lots of gaps. You will still be responsible for paying roughly 20% of your Part B costs. Although it is not required, we always recommend at least having a drug plan to cover your Part D costs.
Option 2
Original Medicare with Medigap and Drug Plan
With Original Medicare, a prescription drug plan, and a Medicare supplement (aka Medigap), you can fill the coverage gaps in Medicare Parts A and B through private insurance companies. It's important to be sure you are paying the lowest possible premium you health qualify for.
Option 3
Medicare Advantage Replacement Plan
A Medicare Advantage plan offers all Medicare Part A and Part B benefits while generally including some additional services, such as wellness programs, hearing aids and vision services. Also, most plans (such as PPO and HMO plans) include prescription drug coverage.
Important Considerations
Everyone’s health needs, finances and lifestyles are not the same. You should consider these factors carefully when evaluating the different Medicare coverage options.
-One Plan
-Hearing and Vision Benefits
-Freedom to Travel
-Limited Coverage
For help evaluating these and other relevant factors, contact your DaleyCare licensed insurance professional for assistance with choosing the Medicare option available in your area that will best meet your needs and finances.