Other Medicare options if my Cost plan goes away - Medicare Changes Other Medicare options if my Cost plan goes away - Medicare Changes
Other Medicare options if my Cost plan goes away

Other Medicare options if my Cost plan goes away Learn about different types of Medicare plans to decide which one is best for you.

Having a back-up plan is always a good idea. I’ve seen quite a few picnics that didn’t happen because of the weather. Plan B? Create your own sunshine indoors! Roll out the blanket on the floor and enjoy the feast anyway.

It’s time to think about a back-up plan if your Medicare Cost plan goes away. Based on federal legislation, some Medicare Cost plans will not continue in 2019. Learn more about the changes in the article, What’s happening to my Medicare Cost plan?

You have other Medicare options

Medicare Cost is one type of plan that offers more coverage than just Original Medicare Parts A and B. Original Medicare Part A is hospital coverage, and Part B covers doctor visits, outpatient care and supplies. But most people want more coverage. Learn about these reasons in Why buy a private plan.

You can get that extra coverage from these other types of plans: Medicare Advantage,
Medicare Supplement and Part D drug plans. These plans:

  • help pay for costs so you have more coverage than Original Medicare
  • include benefits for health care, prescription drugs, or both
  • may be available only in certain counties, and you must live there to enroll
  • may have a network of certain doctors, hospitals or pharmacies you can use to pay the least amount for your care and prescription drugs

Find a plan type that matches your needs

Let’s take a quick look at each type of Medicare plan. Click on each link to read more and see a comparison chart.

Plan Comparison

Plan TypeKey Features
Medicare Advantage plans combine all your Medicare Parts A and B, and many include Part D prescription benefits in one plan with extra coverage.

  • One ID card and one member services for all your Medicare coverage

  • A network made up of a select group of doctors, clinics and hospitals

  • Most include travel coverage for up to several months in the United States and for worldwide emergency care

  • May include extra benefits, like routine hearing and vision exams, a fitness program or additional dental coverage

Medicare Supplement Insurance helps to fill the cost-sharing gaps in Original Medicare. It does not include Part D prescription coverage, so you’ll need to get that in a separate plan.

  • Health plan only

  • Your policy can’t be canceled as long as you pay your premium – it’s called “guaranteed renewable”

  • Portable, so you can keep your plan if you later decide to move to another state

  • Access to any U.S. doctors, clinics and hospitals that accept Medicare

  • Worldwide emergency coverage

  • May include extra benefits, like hearing and vision exams, a fitness program or additional dental coverage
Part D Prescription Drug Plans are available as a standalone option. The plan covers outpatient prescription medicines you take every day or for short periods of time.

  • Pair this plan with Original Medicare, Medicare Supplement or Medicare Cost if available where you live

  • May include a deductible before coverage starts

  • You pay part of the cost with a fixed copay or coinsurance, and drug costs are usually discounted

  • Catastrophic coverage if you reach your year-to-date outof-pocket costs

  • Enroll when eligible or you may pay a penalty if you buy it later

Be ready to make an enrollment decision

Watch your mail this fall for details about your plan. If your Cost plan is not continuing, you’ll want to choose a new plan during the Annual Election Period (AEP). The AEP is Oct. 15 – Dec. 7, and your new plan would be effective Jan. 1, 2019. There will be a variety of Medicare plans available, and you may find that some plans will have benefits and coverage similar to the plan you currently have.

When you learn how different types of Medicare plans work, you can decide which one is best for you. We’re here to guide you through the changes so you have the best plan to meet your needs. Check out this list of phone and online resources.

Please note: If you receive your Medicare Cost coverage through a former employer or union, your enrollment period may vary. Please contact your plan administrator.