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Medicare offers beneficiaries three ways to get coverage.
Original Medicare includes Part A (hospital insurance) and Part B (medical insurance). Your costs vary under each. With Part A, you pay a deductible for every benefit period before Medicare starts paying – $1,364 in 2019. You can have multiple benefit periods each year under Part A, as each lasts for 60 days after you leave the hospital. If you remain in the hospital for 60 days or more, you also have coinsurance costs.
Part B has an annual deductible of $185 in addition to your monthly premium. You will also pay 20% for any covered services. There is no cap on your annual out-of-pocket.
If you have Original Medicare, you can add a Medicare Supplement plan, commonly known as Medigap. Depending on the plan you choose, it covers many of your out-of-pocket expenses. And all of them cover your Part A deductible.
Medicare Part C plans, commonly referred to as Medicare Advantage, offer the same coverage as Original Medicare. However, most offer additional benefits as well, such as prescription drug coverage. If you have Medicare Advantage, you cannot also have a Medigap plan.
Deciding which is the best option for you can be confusing. Our licensed agents are happy to help. Call us toll-free at 1-877-547-0327 for additional information.