Step Two: a Medicare Plan
Think of it this way. Your Medicare card is like the admission ticket into the movie theatre (That is, once the pandemic is over we are going to movie theatres again!) You need to have a Medicare number to get into the movie theatre.
Once in the theatre, you’ll have a choice of movies to see. Think of these as the various Medicare plan choices. Movie theatres also have a concession stand. Think of the licorice and the popcorn as being akin to all the perks you can get with your Medicare plan.
This is where we at MedicareIGetIt guide you, to help you pick the movie in your case Medicare plan which is going to be the best choice for you. But before you can go into the movie that you select, you first need your admission ticket. Your admission is your Medicare number that includes both Part A and Part B.
With your movie ticket in hand (Part B you pay Social security $148.50 for each month) you can go one of two directions:
Theatre One: Original Medicare where Medicare itself stays in the picture and pays 80% of your medical costs and a Medigap Supplement (Usually a Plan G) you enroll in separately pays for most of the other 20% of your Part A and Part B medical costs. You’ll also need a stand- alone Prescription Drug Plan because Medicare itself or your Medigap Supplement does not cover Part D drugs.
Theatre Two: Medicare Advantage where Medicare pays an HMO or PPO to take on your entire Medical needs which usually include your prescription drugs. A Medicare Advantage plan also gives you extras such as dental and vision that are not included with the movie if you choose Original Medicare. Medicare Advantage is all-inclusive. Think of it this way: As part of your movie ticket with Medicare Advantage the concession stand is included for FREE in the ticket price. Put another way, Medicare Advantage, with all the extras it includes, usually has no monthly cost to pay.
So, which way is better? Original Medicare or Medicare Advantage? It’s a bit like asking: What is better—football or basketball—the 1970’s or the 1980’s—cake or pie? The question isn’t which one is better. The question is which one is better for you?
There is a lot more information on this website to help you in answering that question for yourself. We are hoping, though, that another great resource for you in answering the all-important question of whether Original Medicare or Medicare Advantage is a better fit for your needs will be us. Our job as your agent is to make sure you understand the differences between Original Medicare and Medicare Advantage, and then to help you evaluate and make an educated choice between them.