Choosing the Right Medicare Coverage
Here are some considerations to keep in mind when making your choice.
Medicare Advantage plans are partially funded by Medicare but offered by private insurance companies. These plans provide all of the hospitalization (Part A) and medical coverage (Part B) of Medicare, plus additional benefits that are not part of Original Medicare. All of Braven Health’s Medicare Advantage plans include prescription drug coverage, so you get all of your health coverage under one plan. Typically, a Medicare Advantage plan requires you to use network providers, though you may have options regarding out–of–network care.
Do you prefer paying a lower premium or are you more concerned about keeping your out-of-pocket costs for health care (deductibles, copayments, coinsurance) lower? Cost goes beyond what premium you pay each month for your plan. Consider what you will pay out of your own pocket, including deductibles, copayments and coinsurance when you need care.
- Do you want extra benefits beyond Medicare?
- Does the coverage offer extra benefits beyond Original Medicare, including benefits for dental, vision or hearing care?
- Is it important for you to have the freedom to choose any doctor?
- Are you comfortable with having a Primary Care Physician (PCP) coordinate your health care?
- Do you spend part of every year in another state?
- If so, do you need a plan that will cover you while you are away?
- Are prescription drug benefits included in the plan? If so, are the medications you take on the plan’s list of covered drugs (also called a formulary)?
- Are the participating pharmacies convenient?