Magazine article VFW Magazine

Medicare: Know Your Options

Magazine article VFW Magazine

Medicare: Know Your Options

Article excerpt

As open enrollment for Medicare approaches (Oct. 15-Dec. 7), now is a good time to review additional options that can help protect your wellbeing along with your financial health. Education on the different types of options is vital to securing the right coverage.


People who carry traditional Medicare insurance may incur sizable medical bills-such as deductibles and copays- to be paid out-of-pocket. Enrollment in Medigap offers a supplement to Medicare, helping cover gaps in standard coverage that could potentially add up to thousands of dollars per year.

You can select from any of the plans offered in your state, each of which allows you to choose your own doctors, specialists and hospitals. Medigap is also guaranteed renewable each year.

If you have either Medicare Advantage (discussed below) or Medicaid, you cannot enroll in Medigap.


To enroll in a Medicare Advantage plan-often referred to as Part C-a person must be enrolled in the standard Parts A and B Medicare plans. Medicare Advantage is essentially enhanced Medicare coverage, often giving the insured more generous benefits.

Advantage plans come with their own premium, which the insured pays in addition to Part B premiums. Advantage plans give Medicare beneficiaries the option to receive their benefits through a private health plan. In a Medicare Advantage plan, beneficiaries receive their Part A and Part B coverage, and in addition receive prescription drug coverage. …

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