Original Medicare is what new Medicare enrollees will enroll in first once they become eligible. This consists of Medicare Part A and Part B, which will cover your inpatient and outpatient services and serve as your hospital and medical insurance. Original Medicare won’t typically cover prescriptions, but if you need this coverage while enrolled in Original Medicare, you can enroll in a Part D prescription drug coverage plan.

Medicare Supplement Plans will supplement your Original Medicare coverage by filling in the “gaps.” This means that most, if not all, of the out-of-pocket costs left behind by Original Medicare will be covered by a Medicare Supplement Plan. There are ten standardized plans to choose from: A, B, C, D, F, G, K, L, M, and N. Each of these plans provides a different level of coverage for out-of-pocket costs.

Medicare Advantage Plans, also known as Part C, are considered an alternative to Original Medicare. These plans cover the same services as Original Medicare, but can also provide additional coverage for prescriptions, dental, vision, hearing care, and more. There are several Medicare Advantage Plans available: PPO, HMO, PFFS, MSA, and SNPs. Your coverage and costs with these plans depends on your area and provider. Read more?? (need to create verbiage/wording for the link).

Medicare Part D provides prescription drug coverage to Medicare beneficiaries, helping lower costs for both brand-name and generic drugs. Significant changes are set for 2025, especially following the Inflation Reduction Act. Starting in 2025, Medicare will implement a $2,000 out-of-pocket spending cap for Part D, offering relief to beneficiaries who previously faced high prescription costs. This cap is expected to simplify budgeting for medication expenses and reduce the financial burden on enrollees with high medication needs. Additionally, the “coverage gap,” or “donut hole” phase, will be eliminated, making prescription costs more predictable throughout the year. Medicare Part D enrollees will also have the option to spread their out-of-pocket costs over the year rather than facing large expenses all at once. These changes aim to make Medicare Part D more affordable and manageable, benefiting millions of older adults and people with disabilities.

Click on the QR code to learn more about Part D

Dental, vision, and hearing are excluded from Original Medicare’s list of covered treatments. This can be devastating to those who are otherwise satisfied with their Medicare policy, and are hesitant to take on extra costs to obtain coverage for these services.