Medicare buyers can work with an insurance agent at GoMedicare to compare plans and quotes from a variety of different insurance providers. To get a full picture of a plan’s cost, compare monthly premium rates and projected expenses (co-insurance and co-payments).
Following the short questionnaire, an insurance representative will contact you to discuss Medicare coverage options in your area. In the case of Original Medicare, you can compare Medicare Supplement plans and prescription drug coverage (Medicare Part D). Your original Medicare costs can be controlled with a Medicare supplement or Medigap plan.
Medicare Advantage Plans
Part A and Part B of Medicare are covered by Medicare Advantage Plans. In Medicare Advantage Plans, sometimes called “Plan C” or “MA Plans,” companies are accredited by Medicare and must abide by the Medicare rules. A number of Medicare Advantage plans offer prescription drug coverage (Part D).
The most common scenario is that you will need to find a healthcare provider who is part of your plan. Plan benefits include a maximum allowable out-of-pocket cost per year. A few health plans offer non-emergency coverage off-network, but it is often at a higher cost. In order to obtain Medicare-covered benefits, you must use your Medicare Advantage Plan card.
You should keep a copy of your red, white, and blue Medicare cards in a safe place in case you change back to Original Medicare. This article examines the most commonly used types of Medicare Advantage plans:
- Health Maintenance Organization (HMO)
- Preferred Provider Organization (PPO)
- Private fee-for-service (PFFS) plans
- Special Needs Plans (SNP)
Medicare health plans offered by others
However, certain Medicare health plans that provide health coverage are not Medicare Advantage plans. These plans provide Medicare Part A (hospital insurance) and Medicare Part B (health insurance), while others only provide Part B. Some also provide coverage for prescription drugs.