Explore your Medicare coverage options

Medicare Advantage plans are offered by private insurance companies approved by Medicare and provide another way to receive your Medicare Part A and Part B benefits. Many plans also include Part D prescription drug coverage and may offer additional benefits not covered by Original Medicare, such as dental, vision, hearing, fitness programs, and other extras.

Unlike Medicare Supplement plans, Medicare Advantage plans often use provider networks, so understanding which doctors, hospitals, and pharmacies participate in a plan is an important part of comparing coverage.

A few things to know:

• You must be enrolled in Medicare Parts A and B and live within the plan’s service area to enroll.
• Plans may be structured as an HMO, PPO, or another plan type, each with different rules for receiving care.
• Premiums, deductibles, copayments, coinsurance, provider networks, prescription coverage, and additional benefits can vary by plan.
• Medicare Advantage plans have an annual maximum out of pocket limit for covered Part A and Part B services.
• Costs and benefits can change from year to year, so reviewing your coverage annually is important.
• Some Medicare Advantage plans are specifically designed for veterans who receive healthcare through the VA.
• There is no one size fits all Medicare Advantage plan. Your doctors, prescriptions, preferred hospitals, budget, and individual healthcare needs all matter when determining which options may be a good fit.

Medicare Part D helps cover the cost of prescription medications and is available through private insurance companies approved by Medicare.

Coverage can be purchased as a standalone Part D plan to work alongside Original Medicare, or it may be included as part of a Medicare Advantage plan.

Part D plans can vary significantly, which is why it is important to look beyond just the monthly premium.

Each plan has a formulary, or list of prescription drugs the plan covers.

Covered medications are generally organized into tiers, which can affect how much you pay.

Plans may have an annual deductible before certain prescription benefits begin.

Your costs may also depend on the pharmacy you use, since some plans have preferred pharmacies with lower cost sharing.

Premiums, formularies, tiers, pharmacy networks, and other plan details can change from year to year.

The least expensive premium does not always mean the least expensive plan.

When comparing Part D options, I look at your specific prescriptions, dosages, and preferred pharmacies to help identify coverage that makes sense for your individual needs and overall costs.

Hospital indemnity insurance provides an additional layer of financial protection by paying cash benefits directly to you when you experience a covered hospital stay or other covered medical event.

These plans can pair especially well with Medicare Advantage plans, which may have copayments or other out of pocket costs for hospital stays and certain medical services.

A hospital indemnity plan can help offset some of those expenses and make unexpected healthcare costs a little more predictable.

Benefits may be available for covered events such as hospital admission or confinement, depending on the policy.

Some plans may provide additional benefits for other covered services or medical events.

Benefits are generally paid directly to you rather than to the hospital or healthcare provider.

The cash benefit can help with health plan cost sharing or other expenses associated with a hospital stay.

Hospital indemnity insurance is supplemental coverage and does not replace Medicare or your primary health coverage.

A serious diagnosis can affect more than your health. It can also bring unexpected expenses at a time when your focus should be on recovery.

Cancer, heart attack, and stroke insurance is designed to provide an additional layer of financial protection by paying a cash benefit directly to you following a covered diagnosis or event.

Benefits are paid directly to you regardless of other health insurance coverage.

The money can generally be used however you choose, including for medical expenses, deductibles or copayments, travel for treatment, household expenses, or other needs.

Coverage and benefit amounts can often be selected based on your individual needs and budget.

These plans are supplemental coverage and do not replace Medicare or your primary health insurance.

We cannot always predict what lies ahead, but additional protection can provide greater financial flexibility when the unexpected happens.

Taking care of your teeth and vision is an important part of staying healthy, but Original Medicare generally does not cover routine dental or vision care.

That is why standalone dental and vision coverage can be especially helpful for people who choose Original Medicare with a Medigap plan.

Many Medicare Advantage plans already include some level of dental and vision benefits, so additional coverage may not always be necessary.

Dental and vision plans can offer different levels of coverage based on your needs and budget.

Dental coverage may range from preventive care such as routine exams, cleanings, and X rays to benefits for fillings, crowns, root canals, bridges, dentures, and other services.

Vision benefits may help with routine eye exams, eyeglass frames and lenses, or contact lenses.

Deductibles, waiting periods, annual benefit maximums, provider networks, and coverage levels can vary by plan.

Whether you are looking for the basics or want greater protection against those “I really hope I don’t need a crown” expenses, we can explore the level of coverage that makes sense for you.