Take a few minutes to browse our website to learn about Medicare Coverage, Medicare Plans, Medicare Supplemental Insurance and Medigap Policies.
Medicare is a health insurance program that is managed by the Federal government. People who are 65 or older, under 65 with certain disabilities, and any age with End-Stage renal Disease (ESRD) are eligible participants for Medicare coverage.
Once you are able to receive Medicare, there are a couple different avenues that you can take. One health coverage option is to just have Original Medicare. This is a fee-for-service coverage under which the Federal government pays your health care providers directly for your Part A and/or Part B benefits. If you only have Medicare Part A and Part B, then you have the Original Medicare.
Important Facts to know with Original Medicare
Medicare Part A deals with hospital insurance to help cover inpatient care or skilled nursing facility, hospice, and home health care. Medicare Part B deals with medical insurance to help pay for doctors’ services and outpatient care and some preventive services. You’ll pay a monthly premium for Medicare Part B. Also, your Medicare plan will have a deductible that you will have to pay before Medicare begins paying for health care expenses.
Since Original Medicare provides basic coverage for medical costs, you are still responsible for expenses such as deductibles and coinsurance. There are two additional Medicare options available that will help you cover the cost of these expenses. One option is to enroll in a Medicare Advantage plan, otherwise known as Part C. These plans are offered by private companies that contract with Medicare to provide you with Medicare Part A and Part B benefits along with extra benefits. Medicare Advantage plans may include prescription drug coverage that is equal to or better than Medicare’s standard.
The second option you can purchase is a Medicare Supplement plan otherwise known as Medigap. Currently, there are 11 Medicare supplement insurance plans (Plan A, B, C, D, F, F+, G, K, L, M, N), known as Medigap plans, each one having different benefits. Plan A has very basic coverage. While, the Plan F offers the most benefits and therefore, is more expensive. These Medigap plans are to help cover the cost that Medicare does not. For example, the plans help with expenses such, co-payments, co-insurance, deductibles, as well as getting emergency healthcare outside of the U.S., which original Medicare doesn’t cover. While these plans do not include prescription drug coverage, you can purchase a separate Medicare prescription drug plan.