What are my Medicare Options?

There are two main ways to get Medicare coverage: Original Medicare and Medicare Advantage.

Original Medicare is a federally managed program overseen by the Centers for Medicare and Medicaid Services (CMS). It covers about 80% of your medical costs but doesn’t include coverage for prescriptions, hearing, vision, or dental services. To help cover these gaps, you may purchase additional private supplemental health insurance plans also known as "Medigap" insurance for your medical expenses. There are also separate private insurance plans available for prescription, dental, vision and hearing expenses. 

Medicare Advantage Plans are private health insurance plans regulated by CMS. These plans operate under a "managed care" model and are typically structured as HMO, HMO-POS, or PPO plans. Medicare Advantage Plans often include coverage for prescriptions, dental, vision, hearing, and other added benefits. Additionally, all Medicare Advantage Plans have a yearly "maximum out-of-pocket" limit, which caps the amount you would need to pay for covered services during the year.