Medicare Supplements, Medicare Advantage and Medicare Part D

Website Quote ButtonMedicare is a health insurance program that was started in 1965 for individuals 65 years and older, individuals with end-stage renal disease and individuals with certain disabilities.

Medicare enrollment generally begins three months prior to your 65th birthday and has an Annual Election Period each year for plan changes. There are also Special Enrollment Periods for individuals that lost their coverage or have moved out of a service area.

Medicare consists of three parts (A,B and D) or there is an alternative under part C

Medicare Part A – Paid through your working years. Having paid 40 quarters in your lifetime will make you eligible for Medicare Part A. Medicare Part A covers Hospitalization, Home Health Care, Skilled Nursing Care and Hospice. Medicare part A is automatic when your reach age 65 and have paid in 40 quarters of withholding over your lifetime. Medicare Part A has a deductible that must be meet and after your deductible has been meet, Medicare will pay 80% of your claims, and you are responsible for the remaining charges.

Medicare Part B – is an optional coverage and there is a charge monthly based off your income. The starting monthly cost is $134 for 2018 and may change. Medicare Part B covers your doctor’s office visits, Labs, X Rays, out- patient services and medical equipment.

Medicare Part C – Medicare Advantage is another option for individuals to get their Medicare coverage. Medicare Advantage offers medical and prescription in one product. Medicare Advantage has many different plan options and is available in the county in which you live. Medicare Advantage offers lower premiums and co-pays to your doctor and hospital. There may be network restrictions, call 888-833- 1755, to discuss your needs.

Medicare Part D– Drug Prescription Program for individual that are eligible for Medicare Part B and live in the service area of the plan. Medicare Part D offers predictable costs on your medications and catastrophic coverage. Your plan has an initial coverage limit and an out of pocket maximum and catastrophic coverage to help protect you financially.

When you are eligible for Medicare you are also eligible for a Medicare Supplement or Medicare Advantage and Medicare Part D (Prescriptions)

You have three options when going onto Medicare

Option 1 – Traditional Medicare Parts A and B and enrolling into a Medicare Part D plan

Option 2 –Enroll into a Medicare Supplement plan that is sold by a private insurance company. The Medicare Supplement Insurance is designed to pick up what Medicare does not, there are many options and plan designs to choose from. It is always important to speak to a license and skilled insurance agent to find the best plan for your needs.  Get Quotes here

Option 3 – Medicare Advantage Program, that combines your medical and prescription drugs in one plan. There are networks, deductibles and copays that your may have to pay with these plans, but your premiums are generally lower. If you choose a Medicare Advantage Plan your claims will be paid by the insurer you choose for that year. It is always best to speak to licensed experienced insurance agent to find a plan that fits your needs. 888-833-1755.

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