If you are starting to think about enrolling in Medicare, there are some important things you should know about your benefits. You’re likely eligible for Original Medicare, which includes Medicare Part A and Medicare Part B. It’s the minimum coverage required by the federal government and covers things like:
Just sticking with Original Medicare, though, has some disadvantages — such as no limits on your out-of-pocket spending — even if you’ve met your deductible and your coinsurance (20% of the total bill) has kicked in. That means a hospital stay could still end up costing you thousands.
This is where Medicare Advantage, also called Medicare Part C, comes in to play. It includes everything that Original Medicare offers and a lot more — like prescription drug coverage, vision care, dental, hearing benefits, and coverage when you travel. And it limits your out-of-pocket spending.
Let’s take a closer look.
Medicare Advantage plans are health insurance plans that are offered through private companies like Highmark. These plans roll all your Medicare needs into one plan, so you only have to make one decision. Monthly premiums are typically low — with many plans having premiums as low as $0 per month — and they’re the same price for every person, regardless of age, health, or income. Medicare Advantage plans also give you control over your health care costs by capping your maximum out-of-pocket costs and protecting your savings.
Most Medicare Advantage plans are different, so be sure to pick one that has all the benefits you want or think you’ll need. Many of them include:
Highmark Personal Medicare Advisors are happy to help — online, inperson, or over the phone.