Medicare Part A (Hospital Insurance)
- Covers inpatient hospital stays, skilled nursing facility care, hospice care, and some home health care.
- Most people do not pay a premium for Part A if they or their spouse paid Medicare taxes while working.
Medicare Part B (Medical Insurance)
- Covers outpatient care, doctor visits, preventive services, and some medical equipment and supplies.
- Requires a monthly premium, which can vary based on income.
Medicare Part C (Medicare Advantage)
- Private health insurance plans approved by Medicare.
- Include all benefits and services covered under Part A and Part B, and often include additional benefits like vision, dental, and prescription drug coverage.
Medicare Part D (Prescription Drug Coverage)
- Prescription drug coverage offered by private insurance companies approved by Medicare.
- Helps cover the cost of prescription drugs and may lower your prescription drug costs and help protect against higher costs in the future.
Initial Enrollment Period (IEP)
- Begins three months before your 65th birthday month and ends three months after.
- If you miss your IEP, you may have to pay a late enrollment penalty and wait until the General Enrollment Period (January 1 - March 31) to enroll, with coverage starting July 1.
Special Enrollment Periods (SEPs)
- Allows you to enroll in Medicare outside of your Initial Enrollment Period under certain qualifying circumstances (e.g., losing employer coverage, moving out of your plan's service area).
Original Medicare (Part A and Part B)
- Provides coverage for hospital and medical services.
- Allows you to see any doctor or healthcare provider that accepts Medicare.service area).
Medicare Advantage Plans (Part C)
- Offered by private insurance companies approved by Medicare.
- Often include prescription drug coverage (Part D) and may offer additional
- benefits like dental, vision, and fitness programs.
Medicare Supplement Insurance (Medigap)
- Helps pay for some of the healthcare costs that Original Medicare doesn't cover (e.g., copayments, coinsurance, deductibles).
- Sold by private insurance companies and works alongside Original Medicare. Benefits like dental, vision, and fitness programs.
Choosing the Right Medicare Plan
- Factors to Consider:
- Your healthcare needs and budget.
- Prescription drug coverage (Part D) requirements.
- Provider networks and coverage options available in your area.
- Additional benefits and cost-sharing requirements.
- Our Assistance:
- We provide personalized guidance to help you understand your Medicare options.
- Our experienced agents can assist with plan comparisons and enrollment to ensure you find the coverage that meets your needs.
Resources and Support
- Medicare.gov:
- Official Medicare website offering comprehensive information, plan comparisons, and enrollment resources.
- State Health Insurance Assistance Programs (SHIPs):
- Provide free, personalized counseling and assistance to Medicare beneficiaries.