Medicare Options Compared

It’s good know you have options with your Medicare benefits.

When transitioning into retirement, making the switch to Medicare can be tricky.  Selecting the wrong coverage, or missing a deadline, can quickly eat up your life’s savings.  The following chart provides an easy-to-follow overview of your options for health coverage under the Federal Medicare System.  We hope this overview will assist you in selecting the coverage you need to keep you aging healthy, while protecting your financial wellness.

Original Medicare

Medicare Advantage


Type of Coverage

Provided and managed by Federal Government

Provided and managed by private carriers contracted with Medicare

Sold by private carriers approved by Medicare


Any provider who accepts Medicare Nationwide, no referral needed

Predetermined Network and you may need a referral to see a specialist

Any provider who accepts Medicare Nationwide, no referral needed


Parts A (Hospital) & B (Medical)

Part C (combines A & B into one plan) (replaces your Original Medicare)

Pays 50% to 80%, and in many instances 100% of the costs not covered by Original Medicare*


For Part A – $1,632**
For Part B – $240

Varies per carrier, from ZERO to having a separate deductibles for medical care and prescription drugs***



Beneficiary pays 20% of approved services (after deductible)

National average $20 per doctor visit, $75 for ER or Urgent Care, copays vary for prescriptions based on drug tiers, generics range from $3-$5


Out-of-Pocket Maximums


Average can range from ZERO to $8,850****

Plans K – $7,060
Plan L – $3,530

Prescription Drugs, Dental, Vision, Hearing

Not part of Original Medicare Parts A & B*****

Some plans include these ancillary benefits

Not covered under Medigap

Average Premiums

Most people Part A is free, Part B rate is $174.70 in 2024******

Each company sets its own rates Average of $25 + Part B standard rate

Rates vary based on age and where you live, national mo. average $100 to $300 in 2024*******

Medical Underwriting


You can’t be turned down or charged more because of a health condition during initial open enrollment

Applies only if you miss your initial open enrollment period and do not qualify for a special enrollment********

*Also covers skilled nursing facility and foreign travel. Medigap cannot be purchased if you have Medicare Advantage. The majority of Medigap plans do not cover the Part B deductible of your Original Medicare, and per Medicare, Plans that do cover the Part B deductible (F & C) cannot be offered to new beneficiaries enrolling in Medicare.

** For Medicare Part A there is no coinsurance until you have reached your 60th day of hospitalization in each benefit period. Then you pay $408 per day until the 90th day. If you are in the hospital longer than 90 days, you can pay the full bill yourself or use your lifetime reserve days at $816 per day (up to 60 days in a lifetime).

*** Medicare allows up to $545 maximum deductible in 2024 for Prescription Drug coverage, however, half of all Medicare plans have a much smaller or ZERO deductibles for Part D. Keep in mind, these plans may have higher premiums as a trade-off.

****Unlike Original Medicare that has no maximum out-of-pocket (MOOP), the good thing about Medicare Advantage is you pay nothing for covered healthcare once you hit your annual MOOP. While some MA plans (about 20%) set the MOOP at the maximum allowed by Medicare at $8,850 many other carriers choose to have a much lower or no MOOP.

*****You will need to enroll in a separate Medicare Part D drug plan. To see Part D premiums, copays, deductibles for 2024, please visit our Part D Premiums page.

******To see Medicare premiums, copays, deductibles or 2024, please visit our Medicare premiums page.

*******To see Medigap plans, premiums, copays and deductibles, please visit our Medicare Supplement page.

********You are entitled to the lowest possible rate if you act during the initial open enrollment period. After that, unless you qualify for special enrollment, you will have to go through underwriting and may not get the best rate.

While Medicare premiums are the same in many states across the US, rates can and do vary in other states. The content above represents national averages, and some parts were retrieved from
Lovelace Insurance Agency and Susan and David Lovelace are not part of the Federal Government Medicare System. The content in on this page has not been reviewed or approved by Medicare.

Susan and Savid Lovelace
Licensed Medicare Advisors

Call 561.845.7392
Or, 888.556.5859 Toll-Free

Reviewing your options is just the beginning of your Medicare Journey.  Learn more about what’s next.

Turning 65 soon? We specialize in helping people just like you transition smoothly into Medicare.

Instant Quotes

Quote Pic 1-NEW

Buy a marketplace plan with or without subsidy…
Quote & Buy Plan

Quote Pic 3-NEW

Non-ACA solution, enroll anytime up to 2 yrs…
Quote & Buy Plan

Quote Pic 4-NEW

When you are traveling, don’t go without coverage…
Quote & Buy Plan

Quote Pic 2-NEW

Diagnostic, preventative and corrective services & products…

Quote & Buy Humana Plan

Quote & Buy Dental & Vision from GPM Health & Life (Ameritas) Designed for Seniors & can be bundled with Medicare Supplement plan.

Quote & Buy Dental & Vision from Ameritas Suitable for seniors and under 65.  Some plans include orthodontia benefits for children