Medicare Alphabet Soup

(Editor’s Note:  This column was submitted by Sharon Weatherhead, a Tanglewood resident.  She is an independent Medicare insurance agent.)

Let’s review some of the popular Medicare acronyms. This will help you make better sense of what type of Medicare coverage is available.

PDP – is a stand-alone prescription drug plan which provides coverage for Medicare Part D drugs. It is usually purchased with a Medicare Supplement and carries a monthly premium.

Med Sup / Medi-Gap – are Medicare Supplement plans.  They work with your Original Medicare Part A and Part B to cover some or most of your gap costs.

All plans are assigned letters (A,F,G,J, etc.).Each plan has a different coverage package. The more benefits, the higher the premium cost.  (Note: plans “F” or “G”, etc.  exactly the same, no matter what company you choose.  Factors to consider are price and any additional benefits offered).

MAPD / MA – are Medicare Advantage plans.  An MAPD plan includes Part D prescription drug coverage; an MA plan does not.

Most Medicare Advantage plans do not have a premium. They are more of a pay-as-you-go plan.  Instead of paying each month for a Supplement and stand-alone drug plan, you will have zero or low co-pays for services with an annual out-of-pocket maximum.

Medicare Advantage plans generally offer benefits above what Original Medicare (Parts A&B) cover, such as dental, vision, hearing, gym membership, OTC allowance and more.

Watch for more information next time as we try to make more sense of Medicare.

Sharon Weatherhead        For more information check out Sharon’s Twrtimes Advertisements 2021 updated 2-15-2021

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