Factors to consider when choosing a plan
- Cost
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.
- Benefits
Does the plan include additional coverage beyond Original Medicare, like prescription drug coverage, vision, dental or hearing coverage?
- Choice of doctors
Are your doctors in the plan’s network?
- Prescription drugs
Does the plan include prescription drug coverage? Are my drugs covered on the formulary?
- Travel
Will I need coverage as I travel? Does the plan include coverage out of state and/or outside of the country?
What are the costs?
Medicare Advantage plans help pay for many health care items and services but share the cost of care through deductibles, copayments (copays) and coinsurance. Depending on the option you choose, your costs may include:
- Premium
A fixed, monthly amount you pay for your Medicare plan Coverage .
- Copay
A flat dollar amount (for example, $10) you pay each time your receive care or fill a prescription .
- Coinsurance
A percentage (for example, 10%) you pay for your care or drugs after you meet your deductible.
- Deductible
The amount you pay for medical costs before the plan begins to pay its share of your medical costs. Some plans have a seperate drug deductible before they start to pay for your prescriptions.