“ Original Medicare ” refers to Medicare Part A (hospital coverage) and Part B (medical coverage), both of which are managed by the Federal Government. “ Medicare Advantage Plans ” are a different way to obtain your Part A and Part B coverage because these plans are managed by private insurance companies approved by Medicare. Advantage Plans often offer additional benefits beyond Original Medicare.
There can be substantial differences in benefits and costs between Original Medicare versus a Medicare Advantage Plan, so a person is wise to research and compare how the two differ.
For example, Original Medicare does not include Part D prescription drug coverage. To have Part D coverage, you will either need to enroll in a Medicare Advantage Plan which includes Part D prescription drug coverage ; or have Original Medicare with a standalone Part D prescription drug plan.
There are pros and cons to Original Medicare versus Medicare Advantage Plans, so it behooves you to work with a licensed professional to understand your choices and their differences. The decision is not one size fits all. The choice really depends on your needs.
When deciding whether to enroll in Original Medicare versus Medicare Advantage, consider the details of each as they apply to your situation, your budget, and your specific health needs.
Having Original Medicare in tandem with a Prescription Drug Part D Plan and a Medicare Supplement Plan ( “ Medi-Gap “ ) is another option for you. There are different Medicare Supplement plans, but these plans are often misunderstood and purchased un-necessarily.
Also, Original Medicare and Advantage Plans have limited Dental Care, so consider buying a stand-alone Dental Insurance Plan.
Studies have shown that oral health is critical to your general health, and major dental work can break the bank ! Dental Insurance is inexpensive. I pay $ 10.40 monthly for mine.
It gets confusing, but I can help you with your Medicare choices : Original Medicare, Medicare Advantage Plans, Medicare Supplement Plans ( “ Medi-Gap Plans ” ), Prescription D Drug Plans, and Dental Plans.
I have been in Financial Services for 37 Years, and I am an Independent, so I can shop and compare all the plans for you. I will find you the plan that best suits your needs and your budget.
Choosing your Medicare Plan is a big decision, with big consequences and costs. Your Health Insurance, Out of Pocket Medical Expenses, and Well Being are at stake here.
As you become eligible for Medicare and Retirement, I can help you make sense of it all : Your questions about your DROP, Social Security, Medicare, and Retirement Planning.
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Fraser Allport is a Fiduciary, an Investment Advisor, and a Certified Estate Planner ™ with 37 years of experience. Fraser is an Independent, and the Owner.
Call Fraser Allport, your Florida DROP Specialist, at 386.882.6256 for your Complimentary Consultation about your DROP, Social Security, Medicare, Income Tax, Retirement and Estate Planning questions.
Knowledgeable in every aspect of Financial Services, Fraser is the Total Advisor ™. An Experienced and Independent Fiduciary for all your financial needs.
Call Fraser for answers. It’s a Complimentary Consultation.
Please see all of Fraser’s DROP articles in his extensive DROP Library at.
- Fraser can help you with the very first steps that you must take to exit your DROP.
- Fraser can help you meet the dates and deadlines for filing your DROP Exit forms.
- Fraser can help you determine what forms are needed, and help you complete them.
- Fraser can help you with choices for wisely investing your DROP Rollover money.
- Fraser can help you optimize your un-used DROP Sick Days and Vacation Days.
- Fraser can help you maximize your Social Security benefits for you and also for your Spouse. Note: Social Security decisions are irrevocable after 12 months.
- Fraser can help you with your Health Insurance, Medicare, Medicare Supplements Home and Long Term Care choices. Most Long-Term Care occurs in your Home.
- Fraser can help you coordinate your Retirement Plans with your Spouse’s Retirement Plans. You and your Spouse want to be in synch about Retirement.
- Fraser can help you reduce your Income Taxes in Retirement. This can save you a lot of money over the rest of your Life. Don’t over-pay your Income Taxes.
- Fraser can help you with your Estate and Legacy Planning. Fraser is a Certified Estate Planner™. Leave A Legacy, not A Mess.
- Fraser can help you Get Your House In Order with Wills, Trusts, Powers of Attorney, A Living Will, Health Care Directives, Final Expenses, etc.
- Fraser can help you with a Home Health Care Plan, customized for you. Act now, while your health still qualifies. Home Health Care is the future of Long Term Care.