When you’re thinking about your medical coverage needs today, you may be wondering which plan is most beneficial to you. When you contact Tree Frog Insurance, we will help break down exactly what each Medicare plan covers and how they can aid you in living a happy, healthy life. 

In the Original Medicare model, Part A is your hospital coverage, which includes inpatient care as well as critical access and long-term care. Part B is your standard medical coverage, which includes doctors’ services and outpatient care (when medically necessary). You’ll pay a deductible at the start of each year and you pay for services as you get them (usually about 20% of the cost of Medicare-approved services, otherwise known as coinsurance). 

Medicare Advantage plans offer a combination of Part A and Part B with additional benefits. These are Medicare-approved plans from private companies that offer an alternative to Original Medicare for your health and drug coverage. Plans may offer some extra benefits that Original Medicare doesn’t cover — such as vision, hearing, and dental services. Medicare Advantage Plans have yearly contracts with Medicare and must follow Medicare’s coverage rules. Each plan can charge different out-of-pocket costs and they can have different rules for how you get services.

When it comes to prescription drug coverage, we look over to Part D, which can be a standalone plan or part of Medicare Advantage. This plan helps pay for the prescription drugs you need and it offers both generic and brand-name drugs. Each Part D plan can vary in cost and the specific drugs that are covered, however, they all must give at least a standard level of coverage set by Medicare. Plans can vary the list of prescription drugs that are covered and each have different monthly premiums. Additionally, you may have other costs throughout the year in a Medicare drug plan. How much you pay for each drug depends on which plan you choose.