Medicare
Medicare 101
What is Medicare? Simply put, Medicare is a federal health insurance program for:
- People 65 and older
- People under 65 with certain disabilities
- People with end-stage renal disease
The Medicare program offers basic coverage to help pay for things like doctor visits, hospital stays and surgeries.
When you’re eligible, you can enroll in Medicare Parts A and B, also known as original Medicare, through the Social Security Administration. If you are already receiving Social Security benefits, you’ll automatically be enrolled in Medicare.
Medicare 101
What is Medicare? Simply put, Medicare is a federal health insurance program for:
- People 65 and older
- People under 65 with certain disabilities
- People with end-stage renal disease
The Medicare program offers basic coverage to help pay for things like doctor visits, hospital stays and surgeries.
When you’re eligible, you can enroll in Medicare Parts A and B, also known as original Medicare, through the Social Security Administration. If you are already receiving Social Security benefits, you’ll automatically be enrolled in Medicare.
Medicare Advantage Plans or Part C of Medicare
Medicare Supplement (Medigap) also known as Med Supp
With Original Medicare only covering about 80% of your medical bills, leaving you to pay for the rest, medical costs can add up quickly. These gaps in coverage for things like copays, coinsurance and deductibles can create a financial burden for people who need emergency or ongoing medical care.
By getting coverage on a Medicare Supplement for your out-of-pocket medical expenses and avoiding the burden of high medical bills with these benefit plans designed to fill the gaps left by Original Medicare, you can feel at ease knowing that you won’t be nickeled and dimed after paying your monthly premium.
It’s important to know that Medigap Plans do NOT include Prescription Drug Coverage (Medicare Part D or PDP), however, they can still be acquired separately.
Prescription Drug Plans or Medicare Part D
Original Medicare and Medicare Supplement plans do not cover prescription drug costs. By law, you are required to get prescription drug coverage, or the government will impose a penalty.
We can help you navigate your options in either a stand-along Prescription Drug Plan or through a Medicare Advantage Plan which will ensure your medication needs are met throughout the year. Not all Prescription Drug plans are created equal, and we recommend examining your options to ensure you are able to save money while getting the drug coverage you need.