Aging Energized Articles

Medicare Advantage vs. Medigap. There are actually three choices to contemplate but this quickly resolves down to these two primary choices.

When you sign for Medicare at age 65, you first sign up for Part A (hospital insurance) and Part B (outpatient and physician insurance). For most people Part A is free and Part B is reasonably priced at $144.60 per month in 2020. You could stop here with this basic coverage and not purchase any additional health insurance. This is not advised, but you could.

The three choices to contemplate are:

1. Sign up for Original Medicare (Part A and Part B) only and do not sign up for additional supplement coverage.
2. Sign up for Original Medicare and also sign up for a Medicare Advantage Plan.
3. Sign up for Original Medicare and also sign up for a Medigap Plan and a Part D prescription drug plan.

We don't advise that you choose option 1, original Medicare with no additional supplement coverage. Why? Because the out-of-pocket expenses, at 20% of total...

This is probably the most asked question when investigating Medicare for yourself or a loved one:

Should I choose original Medicare (Part A and Part B) and then also choose a Medigap plan plus a Part D Prescription Drug plan?

or

Should I instead choose a Medicare Advantage plan? In this case, we are assuming an Advantage plan that has prescription drug coverage included and may also have other services such as dental, vision, or hearing also bundled.

The best way to increase your knowledge to better equip yourself to make this very important life decision is to take the full Medicare Basics course from Aging Energized. The 8 lessons in this course provide the information you need to make an informed decision that best meets the needs of you and your family.

You will learn this decision is a very personal one. There are potential lifetime benefits or consequences. 

This is not just a simple financial decision. There are other factors that weigh heavily into the decision. Take...

As you approach the magic age of 65, you are probably starting to think about becoming eligible for Medicare. And you most likely have lots of questions. Is it free? Or does it cost me money? What does it cover?

Probably the best place to start is in understanding Medicare’s “parts.”  Medicare has conveniently segmented the various coverage options into four different parts: Part A, Part B, Part C, Part D, and Medigap. Let’s take a quick look at each part.

Medicare Part A, Hospital Insurance

Medicare Part A is your hospital insurance. Think of it as your room and board during hospital stays, including meals. It covers the cost of a semi-private room, home health care, and the cost of skilled nursing facility stays. It also covers blood transfusions requiring more than three pints of blood.

Medicare Part A is free for most people, as long as they have worked at least 10 years in the U.S.

Medicare Part B, Medical Insurance or Outpatient Insurance

Medicare...