Medicare is a federal health insurance program created for seniors age 65 and older.
Medicare also covers younger individuals with certain disabilities and end-stage renal disease (ESRD), which is a type of permanent kidney failure that requires a kidney transplant or dialysis.
Medicare is designed to cover several aspects of senior healthcare, but not all expenses. Without special additions, Medicare is not designed to cover long-term in-home care or most nursing home care. Medicare typically operates based on a fee-for-service model.
Medicare Part C
Medigap Plans
Medicare Supplement plans, commonly referred to as Medigap plan, help cover the gaps in what your Medicare Parts A and B do not cover. Rates vary for these plans, and we will do the work for you to find the Right Plan at the Right Price, saving you time and money!
Medicare Supplement or Medigap, is private plan coverage that pays for most of your out-of-pocket costs like co-pays, deductibles and premiums and picks up where Original Medicare stops. However, Medicare Supplement plans don’t cover prescription drugs. That’s where Part D comes in.
Medicare Advantage Plans
Medicare Advantage plans are Medicare-approved private health insurance plans for individuals enrolled in Original Medicare, Part A and Part B. Medicare Advantage usually requires co-pays and deductibles. However, unlike Original Medicare, these payments put annual limits on how much you pay out-of-pocket. Once you have reached that limit, the plan will cover your medical bills for the remainder of the year. This means you will not have to pay anymore after reaching the spending limit.
**Plans vary based on your county
These plans often have networks, which mean you may have to see certain doctors and go to certain hospitals in the plan’s network to get care.
Medicare Part D
Part D can help to lower prescription drug costs, as well as help protect prices from rising in the future. This coverage is offered to certain Medicare plans by insurance companies and private companies that have been approved by the Medicare program.
If you don’t sign up when you are first eligible, you might have to pay a late enrollment penalty if you decide to enroll later. The best time to sign up for Medicare prescription drug coverage is usually as soon as you are enrolled in Original Medicare, during your Initial Enrollment Period (IEP).
Medicare Part A
Part A includes inpatient stays in a hospital, care received in a skilled nursing facility, hospice care, and some home health care.
Most beneficiaries do not pay a premium for Medicare Part A if they have worked at least 10 years (or 40 quarters) and paid Medicare taxes during that time. Individuals who aren’t eligible for premium-free Medicare Part A can still enroll in Part A and pay a premium. Beneficiaries who delay enrollment after they first become eligible for Medicare Part A may be subject to a late enrollment penalty once they sign up.
