Medicare
CHOOSING THE BEST TYPE OF PLAN FOR YOUR NEEDS IS CRITICAL WHEN YOU FIRST BECOME ELIGIBLE FOR MEDICARE. WE CAN BE YOUR EASY BUTTON TO HELP YOU CHOOSE THE BEST OPTION FOR YOUR SPECIFIC NEEDS, BOTH INITIALLY AND ONGOING.
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What is Medicare?
Medicare is our country’s health insurance program for people age 65 or older. People younger than age 65 with certain disabilities, or permanent kidney failure, or amyotrophic lateral sclerosis (Lou Gehrig’s disease), can also qualify for Medicare. The program helps with the cost of health care, but it doesn’t cover all medical expenses or the cost of most long-term care. You have choices for how you get Medicare coverage. If you choose to have original Medicare coverage, you can buy a Medicare supplement policy (called Medigap) from a private insurance company to cover some of the costs that Medicare does not.
A portion of the payroll taxes paid by workers and their employers cover most Medicare expenses. Monthly premiums, usually deducted from Social Security checks also cover a portion of the costs.
We can give you information on Medicare Supplement and Part D plans, and help you apply.
Types of Medicare plans:
Medicare Supplement or “Gap” plans: Medical coverage provided through an insurance carrier, which layers on top of Original Medicare Parts A & B.
Part D Prescription Drug plans: Prescription Drug coverage provided by an insurance carrier and Centers for Medicare Services.
Medicare Advantage plans: Replacement for Original Medicare, provided by insurance carriers and HMO plans.
- Medicare Part A (hospital insurance) helps pay for inpatient care in a hospital or skilled nursing facility (following a hospital stay). Part A also pays for some home health care, and hospice care.
- Medicare Part B (medical insurance) helps pay for services from doctors and other health care providers, outpatient care, home health care, durable medical equipment, and some preventive services.
- Medicare Part C (Medicare Supplement or Medicare Advantage) includes all benefits and services covered under Part A and Part B. Some plans include Medicare prescription drug coverage (Medicare Part D) and other extra benefits and services.
- Medicare Part D (Medicare prescription drug coverage) helps cover the cost of prescription drugs.
For more information, a great place to get familiar with your rights under Medicare is the following publication from Medicare.gov: