Medicare Health Plans Explained

Medicare health plans are health insurance options offered by the Federal government to people who are 65 or older, people under age 65 with certain disabilities, and people of any age with End Stage Renal Disease,
permanent kidney failure requiring dialysis or a kidney transplant, who meet the eligibility requirements.

medicare-health-plans-explainedMedicare helps pay for health care, but does not cover all medical expenses. The United States Medicare system is managed by the Centers for Medicare & Medicaid Services.

Below is a little information about each type to help you to determine your eligibility.

 

Medicare Part A

Medicare Part A (Hospital Insurance) is the original Medicare coverage which helps pay for inpatient hospital care, and helps cover skilled nursing facility, hospice, and home health care.

 

Medicare Part B

Medicare Part B (Medical Insurance) is for people who qualify for Medicare. It helps cover doctors’ services, outpatient care, and home health care, and helps cover some preventative services to maintain your health and to keep certain illnesses from getting worse.

 

Medicare Part C

These plans often have networks; which means, you may have to see the plan’s doctors and go to certain hospitals to get care. Medicare Advantage Plans can save you money, since out-of-pocket costs in these plans are generally lower than with Original Medicare alone. However, your cost will vary by the services you use and the type of policy you purchase.

These plans often have networks; which means, you may have to see the plan’s doctors and go to certain hospitals to get care. Medicare Advantage Plans can save you money, since out-of-pocket costs in these plans are generally lower than with Original Medicare alone. However, your cost will vary by the services you use and the type of policy you purchase.

Each Medicare Advantage Plan can charge different out of pocket costs and have different rules for how you get services. Choose your plan carefully, as you will only be able to change plans once a year. In 2011, you may switch plans during the Annual Election Period, October 15 through December 7.

 

Medicare Part D

Medicare Part D is the newest addition to Medicare. It is a prescription drug option run by private insurance companies approved by and under contract with Medicare, that helps cover the cost of prescription drugs and may help lower your prescription drug costs and help protect against higher costs in the future.

You must be enrolled in Medicare A before you can apply for Part D coverage. Most people will pay a monthly premium for this coverage. Everyone with Medicare can get this coverage. You will choose the drug plan, that fits your individual prescription needs, and pay a monthly premium. If you decide not to enroll in a drug plan when you are first eligible, you may have to pay a penalty if you join later.

 

For more complete information on the Medicare health plans, 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.

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