Since Medicare is embedded in the daily lives of nearly all American citizens over the age of 65, one might think it would be less confusing to navigate. The federal government program is so vast, however, that it remains pretty nuanced and hard to understand without a little help.
Aside from Original Medicare, which is comprised of Parts A and B, Medicare recipients have the opportunity to opt into programs that provide them with added benefits, such as Medicare Part D, which covers prescription drug costs, as well as Medicare Advantage and Medicare Supplemental Insurance (Medigap) plans. If you’re new to Medicare, or simply want to learn more about all of the options available to you, here are the main benefits to take into consideration when choosing additional coverage:
Medicare Advantage plans are private insurance plans that can be purchased to enhance the coverage you receive from Original Medicare. There are different types of Medicare Advantage plans, including HMO and PPO plans, which should be familiar to anyone who has ever had a private insurance plan. The plans that are available to you will vary based on your ZIP code and the different carriers, however, most Medicare Advantage plans include:
Additionally, some Medicare Advantage plans include benefits that you might not know about, such as: