What kind of coverage do I get with Medicare Parts C and D and Medigap?
Lesson 2
Medicare part C is called "Medicare Advantage" and gives you additional coverage. Part D gives you prescription drug coverage.
Medicare Part C = Medicare Advantage plans
- Once you have Parts A and B, you can enroll in a Medicare Advantage plan
- When Medicare Advantage plans include Part D prescription drug coverage, they're called MAPD plans
- MAPD plans are usually the lowest cost way to get Parts A, B and D together
- You'll continue to pay your Part B premium to the federal government
- Usually, you'll pay an additional monthly premium to your private insurance company, too
- Medicare Advantage plans may also include extras like dental and vision coverage
- You won't be denied due to a pre-existing condition
Medicare Part D = Prescription drug coverage
- You'll pay a monthly premium for a Part D plan unless it's included in your Medicare Advantage plan
- Each insurance company decides on a list of what drugs its Part D plan will cover (a "formulary")
- The federal government decides on some drugs Medicare will never pay for
Medigap plans = Supplemental insurance
- These plans cover costs that Original Medicare doesn't cover
- There are 10 standard Medigap plans (A through N), but not all companies offer all of them
- Plan A covers the least, Plan F covers the most if you are eligible before 1/1/20, and Plan G covers the most if you are eligible after 1/1/20
- You'll pay a monthly premium for a Medigap plan
- Medigap plans don't cover prescriptions
- You can't enroll in a Medigap plan if you have a Medicare Advantage plan
- During your guaranteed issue period you won't be denied due to a pre-existing condition
Test yourself
Extra credit articles
Here are some helpful articles that can help you pick the Medicare coverage that is right for you.
