Medicare is a broad term; here's how Medicare coverage differs:
ROME, Ga., Oct. 16, 2024 – Medicare can be a confusing topic, so if you are planning to initially enroll or review your options during the fall open enrollment, also known as the Annual Election Period (AEP), it's important to explore all your choices.
Here are five key points you should know:
1. What is the difference between Original Medicare vs. Medicare Advantage?
There are two main ways to obtain Medicare coverage: Original Medicare or a Medicare Advantage plan. Use the chart below to help you understand your Medicare coverage choices:
2. What is the Medicare Annual Election Period (AEP)?
The Medicare AEP occurs every year from Oct. 15 to Dec. 7. During this time, individuals can change their Medicare health or Part D prescription drug coverage. This includes returning to Original Medicare or joining or switching to a Medicare Advantage plan. New coverage begins in January.
You should ask yourself three questions when considering your Medicare options:
- Does my current Medicare coverage allow me access to all the providers that are important to me?
- Are my prescription drug costs covered?
- Do I currently have all the health care benefits that are most essential to me?
If answered "no" to any of these questions, you may want to consider exploring other Medicare options, including:
- Changing your Medicare Advantage or your Part D prescription drug coverage to provide you better coverage for your current needs.
- Returning to Original Medicare or joining or switching to a Medicare Advantage plan.
Consider the following if you want to select one of these plan types:
- MA plans offer one way to receive Medicare benefits through private insurance companies approved by Medicare.
- MA plans provide the same Medicare Part A and Part B coverage as Original Medicare and most plans bundle in prescription drug coverage.
- MA plans may cover additional benefits that Original Medicare does not cover.
- You continue to pay your Medicare Part B monthly premiums whether you enroll in a MA plan, cost plan or Original Medicare.
- MA plan premiums vary in cost and most have copays for each medical service received. In addition, these plans have a yearly limit on what you pay for medical services.
- In most cases, you will need to use doctors and services that are in the MA plan's network.
3. When can I enroll in a Medicare Advantage plan?
You can enroll in a MA plan when you first become Medicare eligible during what's called your Initial Enrollment Period (IEP). The IEP is a 7-month period that begins three months before you turn age 65, the month you turn 65 and ends the third month after your 65 birthday.
If you currently have Medicare Part A and B, you have the option to enroll during AEP or anytime under specific circumstances, if you qualify for a Special Enrollment Period.
4. What if I enroll in a Medicare Advantage plan and I don't like it?
There are special trial rights available for people who join a MA plan when they are first eligible for Medicare, due to turning age 65. Individuals may drop their current MA plan and go back to Original Medicare anytime within the first 12 months of enrolling in a plan.
5. What are available Medicare resources?
To view and compare 2025 available plans in your area, visit the Medicare plan finder at medicare.gov/plan-compare or call 1-800-MEDICARE.
About Atrium Health Floyd
The Atrium Health Floyd family of health care services is a leading medical provider and economic force in northwest Georgia and northeast Alabama. Atrium Health Floyd is part of Charlotte, North Carolina-based Advocate Health, the third-largest nonprofit health system in the United States, created from the combination of Atrium Health and Advocate Aurora Health. Atrium Health Floyd employs more than 3,500 teammates who provide care in over 40 medical specialties at three hospitals: Atrium Health Floyd Medical Center – a 304-bed full-service, acute care hospital and regional referral center in Rome, Georgia; Atrium Health Floyd Polk Medical Center in Cedartown, Georgia; and Atrium Health Floyd Cherokee Medical Center in Centre, Alabama; as well as Atrium Health Floyd Medical Center Behavioral Health – a freestanding 53-bed behavioral health facility in Rome – and also primary care and urgent care network locations throughout northwest Georgia and northeast Alabama. Atrium Health Floyd also operates a stand-alone emergency department in Chattooga County, the first such facility to be built from the ground-up in Georgia.
About Atrium Health
Atrium Health is a nationally recognized leader in shaping health outcomes through innovative research, education and compassionate patient care. Based in Charlotte, North Carolina, Atrium Health is part of Advocate Health, the third-largest nonprofit health system in the United States, which was created from the combination with Advocate Aurora Health. A recognized leader in experiential medical education and groundbreaking research, Wake Forest University School of Medicine is its academic core. Atrium Health is renowned for its top-ranked pediatric, cancer and heart care, as well as organ transplants, burn treatments and specialized musculoskeletal programs. Atrium Health is also a leading-edge innovator in virtual care and mobile medicine, providing care close to home and in the home. Ranked nationally among U.S. News & World Report's Best Hospitals in eight pediatric specialties and for rehabilitation, Atrium Health has also received the American Hospital Association's Quest for Quality Prize and its 2021 Carolyn Boone Lewis Equity of Care Award, as well as the 2020 Centers for Medicare & Medicaid Services Health Equity Award for its efforts to reduce racial and ethnic disparities in care. With a commitment to every community it serves, Atrium Health seeks to improve health, elevate hope and advance healing – for all, providing $2.8 billion last year in free and uncompensated care and other community benefits.
About Advocate Health
Advocate Health is the third-largest nonprofit integrated health system in the United States – created from the combination of Advocate Aurora Health and Atrium Health. Providing care under the names Advocate Health Care in Illinois, Atrium Health in the Carolinas, Georgia and Alabama, and Aurora Health Care in Wisconsin, Advocate Health is a national leader in clinical innovation, health outcomes, consumer experience and value-based care. Headquartered in Charlotte, North Carolina, Advocate Health services nearly 6 million patients and is engaged in hundreds of clinical trials and research studies, with Wake Forest University School of Medicine serving as the academic core of the enterprise. It is nationally recognized for its expertise in cardiology, neurosciences, oncology, pediatrics and rehabilitation, as well as organ transplants, burn treatments and specialized musculoskeletal programs. Advocate Health employs 155,000 teammates across 69 hospitals and over 1,000 care locations, and offers one of the nation's largest graduate medical education programs with over 2,000 residents and fellows across more than 200 programs. Committed to providing equitable care for all, Advocate Health provides nearly $6 billion in annual community benefits.