What is Medicare?
Medicare is a fee-for-service health care program for seniors, in which the government pays health care providers
directly for services that fall under Parts A and B of Medicare benefits (see below).
Medicare is divided into four categories.
This allows you to customize your personal coverage when shopping for a comprehensive policy.
- Part A (hospital insurance): Covers hospital care, emergency services,
- nursing home care, home health services and hospice.
- Part B (medical insurance): Covers medically necessary services
- and supplies used for diagnosing and treating medical conditions,
- and preventative services for illness prevention and/or early detection.
- Examples include ambulance services, mental health care, outpatient procedures and clinical research.
- Part C: Combines Parts A and B and often part D as well. (Medicare Advantage)
- Part D: Offers prescription drug coverage.
What Medicare options are available?
Original Medicare offers coverage for services and supplies that are considered to be medically necessary, such as doctor visits, lab tests and wheelchairs.
There are several alternative plans you can choose from for additional coverage, and each plan must offer at least the same coverage as Original Medicare.
A Medicare Supplement can cover excess charges that Medicare does not cover.
Currently, there is a $1,216 deductible for the first 60 days in the hospital.
After that you pay $304 a day, until day 90. Day 91-150 is $608 a day. That falls under Part A (hospital).
Part B has a $147 deductible and then you pay 20% for preventative services (medical).
A Medicare Supplement will help cover these expenses, just pay your monthly premiums for your Medi-gap and you will have coverage.
Why do you need a Medicare Supplement?
Seniors are in the most need of health care, but once retired monthly premiums can become hard to maintain.
Enrolling in the Medicare program allows you to get the care you need for a minimal charge.
A Medicare Supplement provides coverage for the gaps that are in Medicare. Medicare does not cover all expense
and there is not a max out-of-pocket on Medicare Part B. Therefore, a Medicare Supplement Plan F
and Plan D (Drug Coverage) will cover all other expenses.
Contact us today to learn more about coverage options. We are happy to work with you to determine which Medicare options works best for you.