Medicare Enrollment

Navigating the Medicare enrollment process can seem like a daunting task. Many questions arise during this journey to Medicare; such as, what does Medicare cover? How will I pay for the deductibles and co-payments? What are Medicare Part D and the “donut hole”?

What are my choices for insurance that goes with my Medicare? Is an Advantage Plan or Traditional Medicare Supplement best for my situation? At Michael L Whitaker & Associates, LLC there are several Medicare specialists on staff to help guide you through this process.

Medicare EnrollmentMedicare is a medical insurance program for retired and disabled people. Some people are covered only by one type of Medicare; others opt to pay extra for more coverage. Understanding Medicare can save you money; here are the facts. There are four parts to Medicare: Parts A, B, C and D. Part A helps pay for inpatient hospital care, skilled nursing care, hospice care, and other services. Part B helps pay for doctors’ fees, outpatient hospital visits, and other medical services and supplies not covered by Part A. Part C allows you to choose to receive all of your health care services through a provider organization. Part D is the Medicare Prescription Drug Program. (Read more about this.)

Traditional Medicare Supplement insurance plans are a form of private insurance that can complement your Medicare benefits. You may want to get coverage that fills gaps in Original Medicare coverage. Plan costs and coverage vary by policy and company.

However, each policy allows the Medicare recipient freedom of provider throughout the United States.In contrast, Medicare Part C, Advantage Plans (HMO-PPO-PFFS) include both Part A/B Medicare and in some cases Part D. By choosing an Advantage Plan from a private insurance company, you will no longer use your traditional Medicare card but an all-in-one card provided by the insurer. You will still be considered a Medicare recipient and part of the Medicare plan.

Private insurance companies approved by Medicare provide this coverage. In most Medicare enrollment plans, you need to use plan doctors, hospitals, and other providers or you pay more or all of the costs. You usually pay a monthly premium; in addition to your Part B premium and a copayment or coinsurance for covered services. Costs, extra coverage, and rules vary by plan. Part D Medicare, prescription drug coverage is insurance run by an insurance company or other private company approved by Medicare. Part D was enacted as part of the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 (MMA) and went into effect on January 1, 2006. There are two ways to get Medicare prescription drug coverage: Part D can be obtained through joining a Medicare Part C Advantage Plan or by purchasing a stand-alone plan through an approved private insurance company in your area.

For more complete information on the Medicare enrollment, the Medicare program, Medicare Supplement insurance, Advantage Plans, Part D, and the Coverage Gap please schedule to attend on our Medicare Turning 65 Workshops locally or contact us today.