How it works

When you first enroll in Medicare you will be able to choose how you want to get your coverage. Essentially there are two main ways.

Original Medicare

Original Medicare is made up of Part A (Hospital Insurance) and Part B (Medical Insurance).  For prescription drug coverage (Part D) you can enroll into a separate drug plan.  Original Medicare works on an 80%/20% split.  To help pay for your 20% cost share you can buy a Medicare supplemental plan also known as Medigap.  

Medicare Advantage

Medicare Advantage plans (Part C) are like an “All-in-One” alternative to Original Medicare.  These plans include Part A, Part B and usually Part D.  Medicare Advantage plans may have lower out of pocket costs than Original Medicare.  In addition, they can and often do offer extra benefits that Original Medicare doesn’t cover, such as vision, dental and hearing and more.