Choosing which Medicare plan works for you or deciding if you should keep your current plan are all decisions that aren’t always the easiest to make. Fortunately, the Medicare experts with Malhotra & Assoc. Insurance can help you through this decision-making process.
There are two main types of Medicare policies. These two types are Original Medicare (Part A and B) and Medicare Advantage (Part C). Picking between these types of policies is one of the most important decisions you’ll need to make when it comes to Medicare.
What is Original Medicare?
When you combine your Part A and B coverage, you’ll end up having what many refer to as Original Medicare. When you first become eligible for Medicare, you’ll typically be enrolled in Original Medicare first as you will need this coverage before you can get other types of Medicare plans, such as Medicare Advantage.
Original Medicare will provide you with all your inpatient hospital and outpatient medical coverage that you need. Here’s more of a breakdown of the coverage you can expect from both Parts A and B.
Part A will provide coverage for:
- Inpatient hospital care
- Skilled nursing facility care (if it’s not long term)
- Home health care
- Hospice care
Part B will cover:
- Outpatient care
- Medically necessary services
- Mental health services
- Ambulance services
- Preventive services
- Durable medical equipment
- Home health care
What is Medicare Advantage?
Medicare Advantage, also known as Part C, will provide you with the same coverage as Original Medicare but may also include extra benefits. These extra benefits can include:
- Prescription drug coverage
- Gym memberships
- Dental coverage
- Vision coverage
- Hearing coverage
- Health and wellness programs
- Transportation to doctor visits
Making the Switch with the Annual Enrollment Period
It is entirely possible to join Medicare Advantage after being enrolled in Original Medicare. Many people might do this if their current coverage no longer fits into their budget or provides the right type of coverage for their medical situation.
One of the most important Medicare enrollment periods that will allow you to make this change is the Annual Enrollment Period, which is from October 15 to December 7 every year. During this period, you can most certainly join a Medicare Advantage plan. If you’re currently enrolled in Medicare Advantage, you will also have the option of dropping your plan and staying with Original Medicare coverage.
Other changes you can make during this enrollment period include:
- Switching from one Medicare Advantage plan to another
- Switching Part D plans
- Enrolling in or dropping a Part D plan
- Switching insurers
Work with Our Medicare Experts Today
If you want to learn more about making changes to your Medicare policy, it’s best to work with one of our Medicare experts. They’ll be able to walk you through any steps that you need to take and provide you with individualized support.
If you’re ready to learn more about Medicare, we’re here to answer your questions. Reach out to us today to find out more about which type of policy might be right for you!