In this class, we explored the two primary Medicare coverage options: Original Medicare (with Supplement and Drug Plans) and Medicare Advantage.

Understanding Medicare Options:

Original Medicare includes Part A (hospital insurance) and Part B (medical insurance). You can add a Supplement (Medigap) and Part D (prescription drug plan).
Medicare Advantage (Part C) combines hospital, medical, and drug coverage into a single plan, often offering additional benefits like dental or vision.

Cost Breakdown:

Original Medicare requires separate premiums for Part B, Medigap, and Part D. You also need to factor in deductibles and coinsurance.
Medicare Advantage involves paying the Part B premium and may have additional plan premiums, with out-of-pocket limits to cap your expenses.

Comparison Strategy:

Assess your health needs, including medication usage and doctor visits.
Calculate annual fixed costs (premiums) and variable costs (deductibles, copays) for each option.
Compare total costs by combining fixed and estimated variable expenses, and consider Medicare Advantage's maximum out-of-pocket limits.

Additional Benefits and Restrictions:

Medicare Advantage plans may include extra benefits like dental, vision, or fitness programs but often have network restrictions.
Original Medicare with a Supplement offers more flexibility in choosing healthcare providers.

Personalized Assessment:

Use Medicare.gov’s Plan Finder to compare plans tailored to your healthcare needs, and review options annually to ensure your coverage remains optimal.

And remember: Always consult with your healthcare provider or insurance advisor when making decisions about your health coverage and benefits.