Navigating the Alphabet Soup

Parts A, B, C, and D

The foundation of your coverage is Original Medicare, which consists of Part A (Hospital Insurance) and Part B (Medical Insurance). While this covers a significant portion of your costs, it does not cover everything. There are deductibles, coinsurance, and no cap on out-of-pocket spending. This is where the choices can get tricky, and where having a knowledgeable Medicare agent becomes invaluable.

You generally have two main paths to choose from to complete your coverage: Medicare Supplements (Medigap) or Medicare Advantage (Part C).

Medicare Supplements (Medigap)

For those who want predictability and the freedom to see any doctor who accepts Medicare, Medicare Supplements are often the preferred choice. These plans work alongside Original Medicare to pay the “gaps” in coverage, such as copayments, coinsurance, and deductibles.

When we sit down to discuss these options, I will explain how these plans are standardized. This means that a “Plan G” from one company offers the exact same benefits as a “Plan G” from another company. The difference usually comes down to the premium price and the company’s history of rate stability. As your broker, I analyze these trends to help you select a carrier that offers a competitive rate now and is likely to remain stable in the future. The beauty of a Supplement is the lack of networks; if you want to see a specialist in another state or visit a premier cancer center, you generally can, provided they accept Medicare.