Medicare is a national health insurance program sponsored by the federal government for Americans over age 65, as well as those under 65 with qualified disabilities. Medicare consists of four “parts” — A, B, C and D. However, understanding what each part of Medicare covers and does not cover can be complex. That’s where we come in.
Stuart Insurance will help you understand your options to find the best coverage to fit your needs – even if that means letting you know you already have the best plan in place! To simplify the Medicare process even more, we offer free consultations and in-home appointments, as well as free monthly educational seminars.
Medicare Part A, or hospital insurance, helps pay for some inpatient hospital care, limited skilled nursing care, hospice care and other specified services. Medicare Part A is usually premium-free.
Medicare Part B, or outpatient insurance, helps pay for some outpatient hospital visits, doctors’ fees and other specified medical services and supplies not covered by Part A. Medicare Part B has a standard monthly premium based on income.
Medicare Part D, or prescription drug coverage, helps pay for prescription medications. Medicare Part D is offered by private insurance companies, and the medications covered vary by company, plan and year. This is why it’s important to review your prescription drug plan with an experienced Medicare agent annually.
Medicare Part C, also known as Medicare Advantage, is offered by private insurance companies as an alternative to Original Medicare. These plans combine Part A, Part B and typically Part D into a single, convenient plan. They cover the same expenses as Medicare, with many offering extra coverage for dental, hearing and vision. While Medicare Advantage plans usually cover stuff that Medicare does not, out-of-pocket expenses and copays can run higher. They also typically provide fewer choices for covered healthcare providers.
Medicare Supplement Plans, or Medigap, are plans designed to “supplement” Original Medicare. They are designed to cover specific healthcare costs that are not covered by Medicare Parts A and B. Medigap premiums depend on the insurer, where you live and the exact plan. To enroll in a Medicare Supplement Plan, you must be enrolled in Original Medicare. These plans can ultimately save you a lot of money by helping to pay for things like copayments, coinsurance and deductibles.
For more information on finding what Medicare Advantage, Medicare Supplement or prescription drug plan is right for you, contact Stuart Insurance today. We’ll walk you through your options to find the best Medicare plan to fit your needs.
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