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The Basics:
Medicare Part A: Hospital Insurance
A part of Original Medicare that helps to cover the costs associated with in-patient care in hospitals, skilled nursing facility care, hospice care, etc.
Medicare Part B: Medical Insurance
A part of original Medicare that helps to cover the costs associated with medical services provided by healthcare providers, preventive services, home health care, durable medical equipment, etc.
Medicare Part C: Medicare Advantage Plan
A plan offered by a private insurance company, that "bundles" Part A, part B, and sometimes Part D into one plan.
Medicare Part D: Prescription Drug Plan
A plan offered by a private insurance company that helps to cover the costs associated with prescription drugs.
Medigap: Medicare Supplement Plan
A plan offered by a private insurance company that helps to cover the costs or "fill in the gaps" that original Medicare may not cover.
Medicare Supplement Plans (Medigap)
What is a Medigap plan?
Medicare Supplement plans can help cover the costs that original Medicare (parts A & B) may not cover. A Medicare supplement plan, also known as a Medigap plan, fills in the "gaps" that Original Medicare may leave uncovered such as copayments, coinsurance, and deductibles. There are various types of Medicare Supplement plans that offer different levels of coverage. These plans may be known as Plan F, Plan G, Plan K, and Plan N (just to name a few). Each plan varies and may help to cover deductibles, coinsurance, and/or copayments. Our knowledgeable team can answer any questions that you may have and help you find a plan that fits your needs and budget.
Do Medicare Supplement plans offer dental, vision, and hearing coverage?
Medicare Supplement plans typically do not include dental, vision, or hearing benefits, but may have the option to be added to the policy for an additional premium. Individuals also have the option to purchase a separate dental, vision, and/or hearing policy if they choose to do so.
Do Medicare Supplement Plans have a "network" of doctors and hospitals that I will have to use?
Medicare Supplement plans allow you flexibility when seeing a doctor as there aren't restrictive networks, if Medicare is accepted, your Medicare Supplement plan should be as well.
Will my Medicare Supplement plan include drug coverage?
Medicare Supplement Plans do not include drug coverage (for Part D drugs), however, a separate prescription drug plan can be added at an additional premium. Medicare Supplement plans will help with the cost of Part B drugs, as that would be billed under Part B (Medical) coverage.
Medicare Advantage Plans
What is a Medicare Advantage Plan?
A Medicare Advantage Plan also known as Part C, is a plan offered by private insurance companies, that typically "bundles" Part A, Part B, and usually Part D.
Medicare Advantage plans typically have a set co-payment or co-insurance for services, as well as, a set "maximum out-of-pocket" amount each year. These plans may also offer extra benefits such as dental, vision, and hearing coverage, over-the-counter benefits, fitness benefits (gym membership), and more.
Do Medicare Advantage plans require me to use a plan's network?
Medicare Advantage plans offer several types of plans including PPO (Preferred Provider Organization), HMO (Health Maintenance Organization), PFFS (Private Fee For Service), etc. Depending on the plan you select, you may have access to in and out-of-network benefits. Your agent can assist you in making a decision on what plan fits your needs best.
If I have Medicaid do I need a Medicare Advantage plan?
If you have Medicaid and Medicare you may qualify for a plan known as a Dual Special Needs (D-SNP) Medicare Advantage plan. A D-SNP Medicare Advantage plan may offer additional benefits that you may not be receiving.
Prescription Drug Plans
Part D (Prescription Drug Plans)
Medicare part D is also known as Prescription Drug coverage. Part D plans are offered by private insurance companies and help with the costs of prescription drugs. These plans offer different levels of coverage that vary based on prescription drug name, dosage, quantity, etc.
Extra Help with Prescription Drug Plan costs
You may be eligible to get extra help paying for monthly premiums, annual deductibles, and co-payments related to the Medicare Prescription Drug program. If you are interested in checking your eligibility, click the link below.