Is Original Medicare (Part A & B) Enough?
Does Original Medicare provide enough coverage for your health care needs? Find out if Parts A and B are enough for you and learn about private coverage options that replace or supplement Original Medicare.
Here, we’ll explore if Original Medicare Parts A and B provide enough coverage for your health care needs. Then we’ll cover the private coverage options available. Armed with this information, you’ll be better equipped to make a confident decision that supports your health and budgetary needs!
What do Original Medicare Parts A & B cover?
Original Medicare Parts A and B are funded by the federal government and are available to qualifying people when they turn 65 years old and people under 65 with certain disabilities.
What are the Original Medicare coverage gaps?
Original Medicare Parts A and B provide good coverage, but beneficiaries (those who are entitled to Medicare benefits) still have to pay for many costs related to their health care.
How can private coverage help?
There are private coverage solutions to help Medicare beneficiaries save money including:
- Medicare Part C plans (also known as Medicare Advantage) are offered by private insurance companies as an alternative to Original Medicare. Often described as “bundled” plans, they include all of your Part A and Part B coverage.1
- Medicare Part D is prescription drug coverage offered by private insurance companies to people on Medicare. Prescription drugs aren’t covered by Original Medicare, so many beneficiaries purchase a Medicare Part D prescription drug plan to accompany their coverage.2
- Medicare Supplement insurance plans (aka Medigap) are available to beneficiaries of Original Medicare Parts A and B. These plans are designed to help you pay for the out-of-pocket expenses that Original Medicare doesn’t cover through standardized benefits. There are many Medicare Supplement insurance plans that may be available to suit a range of medical needs and budgets.3
If you already have Original Medicare, the Annual Enrollment Period (AEP) is your chance to switch to a plan with additional coverage!
Medicare’s Annual Enrollment Period, which runs from October 15 until December 7, is a great opportunity to switch to a plan with additional coverage that can help protect you from the unlimited out-of-pocket costs of Original Medicare. During this time, existing Medicare beneficiaries can:
- Switch from Original Medicare to Medicare Advantage (or vice versa)
- Change or enroll in a Medicare Advantage plan
- Change or enroll in a Part D prescription drug plan
myHealthPolicy is here for you!
Please visit our website or call us at 888-928-1456 TTY:711 to explore insurance coverage options that may fit your needs and budget.
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[1] U.S. Department of Health and Human Services, What is Medicare Part C?, https://www.hhs.gov/answers/medicare-and-medicaid/what-is-medicare-part-c/index.html.
[2] Medicare.gov, Drug Coverage (Part D), https://www.medicare.gov/drug-coverage-part-d.
[3] Medicare.gov, What's Medicare Supplement Insurance (Medigap)?, https://www.medicare.gov/health-drug-plans/medigap.
PLEASE NOTE: Medicare Supplement insurance is available to those age 65 and older enrolled in Medicare Parts A and B and, in some states, to those under age 65 eligible for Medicare due to disability or End-Stage Renal disease.
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This material provides general information about the described insurance product(s) for educational purposes only. This is not intended as investment advice or to recommend the insurance product(s).
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