While the above factors are important to know, you should also consider the coverage provided by each plan. For example, if you have Original Medicare, you can add on a Medicare Supplement to help fill in the gaps and cover what Original Medicare won’t cover.
You can also consider a Medicare Advantage plan, which is more of an alternative to Original Medicare. These plans will provide you with all of your Part A and B benefits, but they can also offer extra benefits. However, keep in mind that you can’t have a Medicare Supplement or Medicare Advantage plan at the same time.
You should also know that Medicare Supplements don’t provide prescription drug coverage, but you can have a standalone Medicare Part D plan. On the other hand, some Medicare Advantage plans will include prescription drug coverage as an added benefit.