The Basics of Medicare Health Plans

Medicare is the federal health insurance program for people age 65 and older. Certain people younger than age 65 can qualify for Medicare, including those who receive Social Security Disability Income and those who have end-stage renal disease (ESRD) and ALS (Lou Gehrig's Disease).

Medicare is divided into four parts which are explained below. For more detailed information on Medicare benefits go to www.medicare.gov.

Medicare Part A

Part A helps pay for inpatient hospital, skilled nursing facility (followed by a hospital stay), home health care, and hospice care. Part A is premium free for most people, but you may share costs through deductibles and co-insurance.

Medicare Part B

Part B helps pay for doctors' services, laboratory and x-ray services, durable medical equipment, ambulance services, outpatient hospital care, home health care, and medical supplies.

In most cases, Medicare Insurance pays 80% of the cost of covered services. Medicare Part B also pays for some preventive services. There is a monthly premium paid to Medicare for Part B.

Medicare Part C

These plans combine all your Medicare-covered Part A and Part B benefits in a single package and also include prescription drug coverage (Part D).

You must have Parts A and B before you can enroll in a Medicare Advantage plan. Medicare Advantage plan members continue to pay Medicare the premium for Part B.

Medicare Advantage plans are not the same as Medicare Supplement plans (or Medigap plans).

Medicare Part D

Medicare prescription drug coverage is offered through private companies – either as part of a Medicare Advantage plan or as a stand-alone prescription drug plan. Having either Part A or Part B, or both, makes you eligible for Part D. Part D plan members pay a premium and pharmacy co-pays; most plans include a deductible. Some people can get Part D through their employer group plan or the Department of Veterans Affairs.

HOW WE CAN HELP

As you can see, Medicare is confusing. We can sit down with you and in thirty minutes help you understand how Medicare works and discuss the benefits of getting either a Medicare Supplement plan or a Medicare Advantage plan.

As independent brokers carrying all the plans currently offered, our goal is to educate and help you determine what the right solution is for you.

For a quote for a Medicare Supplement plan: Click Here.

Please call us at 424-288-4254 to talk about your Medicare choices. We will help clear up all the confusion!