Option 1: You can rely on traditional Medicare Parts A and B to provide your coverage. It’s important to understand that traditional Medicare alone covers approximately 80% of most people’s medical expenses but does not provide prescription drug coverage. For Part D coverage, an additional standalone plan can be purchased to help with the cost of prescription drugs.
Option 2: You can purchase a Medicare Supplement plan in addition to traditional Medicare to fill the gaps not covered by Medicare alone. Medicare Supplement plans are offered by private insurance companies and have no affiliation with Medicare. Medicare Supplement plans cover some of the costs that aren’t paid for by Parts A and B and do not offer Medicare Part D prescription drug coverage. For Part D coverage, an additional, standalone plan must be purchased. Medicare Supplement plans can offer comprehensive coverage, but typically cost more than Medicare Advantage plans—sometimes a lot more.
Option 3: You can choose a Medicare Advantage plan to provide the same coverage as Medicare Parts A and B, plus more benefits and services including Part D prescription drug coverage, vision, hearing and dental coverage. Medicare Advantage plans provide these benefits through a contract with the government. You will not need a Medicare Supplement plan if you choose a Medicare Advantage plan.
Download our NTSP Medicare Brochure 2017