Original Medicare vs. Medicare Advantage

One of the biggest choices you’ll have to make about your healthcare coverage is whether to stay on Original MedicareOriginal Medicare is a fee-for-service health insurance program available to Americans aged 65 and older and some individuals with disabilities. Original Medicare is provided by the federal government and is made up of two parts: Part A (hospital insurance) and Part B (medical insurance). or switch to a Medicare AdvantageMedicare Advantage (Medicare Part C) is health insurance for Americans aged 65 and older that blends Medicare benefits with private health insurance. This typically includes a bundle of Original Medicare (Parts A and B) and Medicare Prescription Drug Plan (Part D). plan.

Original Medicare

Original Medicare is a public health insurance program for U.S. adults who are over 65 years old or who have certain disabilities. Original Medicare consists of Medicare Part A, which is hospital insurance, and Part B, which is medical insurance.

Parts A and B don’t cover most prescription medications. For prescription drug coverage, you need a Medicare Part D plan from a private insurance carrier.

But there is another option that could fit your needs: Medicare Advantage plans, also known as Medicare Part C, from private insurance carriers.

Medicare Advantage

Medicare Advantage plans substitute for Original Medicare.

In addition to matching Original Medicare’s coverage hospital stays and medical services, many Medicare Advantage plans include Part D prescription drug coverage and other benefits you don’t get from Original Medicare.

Original Medicare vs. Medicare Advantage

Unlike Original Medicare, Medicare Advantage plans set an out-of-pocket maximumThe maximum amount of money an individual will pay towards out of pocket expenses like deductibles, copayments, and coinsurance. for your annual spending on covered services.

Another key difference is that you can use Original Medicare at most doctor’s offices and hospitals nationwide. On other hand, Medicare Advantage plans have provider networks.

To get the most out of your benefits, you will need to visit only the doctors and pharmacies that are in the plan’s provider network.