What is Medicare?
Medicare is a health insurance policy set by the United States Federal Government which subsidizes healthcare services for people over the age of 65 and young people living with disability, end-stage renal disease, or amyotrophic lateral sclerosis.
What Medicare Covers
While Medicare coverage is essential in taking care of your medical costs as you grow older, its benefits do not always cover all your medical expenses. Typically Medicare part A covers 80% of your Hospital related medical bills and Medicare part B covers 80% of your Doctor bills. But there is a lot of gray area. That gray area plus the 20% of uncapped amount that you are responsible for is why most Medicare Eligible person elect to obtain a Medicare Plan of some kind from a Medicare Insurance provider/Carrier.
What is Medicare Part A?
Medicare Part A covers inpatient care for all hospital stays or time spent in skilled nursing facilities. It also covers hospice care and some healthcare services.
What is Medicare Part B?
Medicare Part B covers outpatient healthcare. This includes all doctor’s visits, preventive healthcare, and all necessary medical services needed to nurse patients to health. It also covers ambulance services, surgeries, tests, mental health coverage, durable health equipment, and select outpatient prescription drugs.
What is Medicare Part C?
Medicare Part C or Medicare Advantage is an alternative to Original Medicare plans. It became official in 1997.
Unlike Original Medicare, Medicare Part C is offered by private insurance companies like Humana, United Healthcare and others. These are often bundled type Medicare Plans that include Vision, Dental, and Prescription Drugs and have a very low monthly payment. However, they often require you to use doctors within a network, get pre authorization for surgeries, and have more out of pocket co pays than standard Medicare Supplement plans.
What is Medicare Part D?
Medicare Part D covers prescription drugs and it is available as either a part of Medicare Part C (Medicare Advantage Plan) or as a standalone Prescription Drug Plan (PDP). Medicare Part D coverage is provided by Medicare-approved private insurance companies.
What is Medigap?
Also referred to as Medicare Supplement insurance, Medigap plans cover deductibles, coinsurance, and foreign travel emergency costs that are not covered by Original Medicare. Medigap plans are offered by private insurance companies and they are designed for Medicare Part A and Medicare Part B beneficiaries who are free to choose standalone Medicare Supplement plans to cover the cost of their prescription drugs.
Medicare Advantage beneficiaries, however, are ineligible for Medicare Supplement insurance policy enrolment.
Choosing the best Medicare plan that works for you.
Finding the best Medicare plan that suits your needs best is easier when you have a little help choosing a Medicare Plan Carrier.
As an expert Medicare insurance professional I have a wealth of knowledge and expertise to help you put together the perfect Medicare plan tailored to your needs.
Ready to get started? You stop searching and feel confident you are in the right place. Contact me Now.