Medicare and its Options
Please take moment to read about Medicare and its Options, Here is Medicare Made easy.
Medicare
Part A - Hospital:
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Hospital Services
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Inpatient Services
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Skilled Nursing Service
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Hospice Care
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Home Health Care
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Large Deductible when admitted to the hospital
Part B - Medical Services:
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Doctors
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Medical Tests
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It has a small yearly Deductable and then Medicare covers 80% leaving you with 20% and any excess charges that your Doctor may charge, which is up to 15% MORE than what Medicare allows.
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Outpatient Services
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Durable Medical Equipment
Options
Medicare Advantage
What is Medicare Advantage:
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Sometimes referred to as Medicare Part C
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An option to get your Medicare Benefits in an all-in-one plan.
What these plans do:
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Low to no Premium
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Take over from your Orginal Medicare with a Private company HMO, PFFS, or PPO plan
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Includes items not covered by Medicare like dental coverage and gym membership.
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Can include drug coverages
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Caps the amount you can spend annually for medical costs
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These plans also have Co-pays and Deductibles set by the company that offers the plan, Not Medicare.
Prescriptions, Part D
What is Part D (Prescription Drug Plan):
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Medicare Part D plans are added to your Original Medicare to cover your prescription drugs.
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These plans are offered by private companies that are authorized by Medicare to provide this coverage.
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If you do NOT take a prescription plan when first eligible; Medicare WILL access a penalty once you decide to take one.
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So, to avoid the penalty always take one even if you are taking no medications. Some Medicare Advantage Plans have these included, but not all.
Medicare Supplement
What is a Medicare Supplement:
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A Medicare Supplement, or Medigap; Is a plan the picks up the out-of-pocket costs left over by Medicare.
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For example, the 20%, deductibles, and/or excess charges; depending on the plan you choose.
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Plans are Standardized: This means Medicare Supplement plans do not vary from company to company.
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The only difference is the price and quality of the company.
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These are the most comprehensive plans on the market, but they have a higher monthly premium because it's additional coverage to your Original Medicare.
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Since these plans supplement Original Medicare, you retain the ability to use any doctor nationwide that accepts Medicare.