Original Medicare is the starting place for everyone on Medicare. This is the program that is ran by the Federal Government. It consists of two parts: Part A Hospital, and Part B Medical. Part A helps pay for inpatient services like hospitalization, skilled nursing, home healthcare, and hospice.

Part A does not cover everything. There are deductibles, co-pays, and co-insurance that the beneficiary is responsible for before Medicare pays for anything. Part B helps pay for outpatient services like doctors office visits, emergency, urgent care, surgeries, lab work, etc. Part B does not cover everything either, it generally covers 80% of medical costs and the beneficiary would generally be responsible for the remaining 20%.

Medicare Advantage Plans, otherwise known as Part C are an alternative way people can receive their Medicare benefits. These plans are approved by Medicare, but they are ran by private insurance companies. They offer similar benefits that you would receive with original Medicare like hospital and medical benefits. Most plans also offer additional coverage beyond original Medicare for things like prescription drugs, dental, vision, hearing, and fitness program memberships.

Because these plans are ran by insurance companies, they do have provider networks like HMOs, PPOs, and PFFSs. If you are curious to know if a Medicare Advantage Plan is right for you, contact us for more information.

Prescription Drug Plans, otherwise known as Part D are plans that people can buy as an addition to original Medicare that will help pay for prescription drugs. Original Medicare does not generally cover prescription medications that are picked up at a pharmacy. These Prescription Drug Plans are approved by Medicare, but they are also ran by private insurance companies. Prescription drug plans generally have deductibles, co-pays, and co-insurance. All of the plans are unique and cover medications differently. If you are curious to know if a Prescription Drug Plan is right for you, feel free to give us a call.

Medicare Supplements, otherwise known as Medigap plans, are plans that people can buy as an addition to original Medicare. Medicare Supplements will help these people pay for deductibles, co-pays, and co-insurance left behind by original Medicare. There are a few different plan types that cover more or less of the out of pocket costs left by original Medicare. You can not have a Medicare Supplement and a Medicare Advantage Plan at the same time, so you must choose one or the other. If you have questions about the different Medicare Supplement plans or if you want to know if a Medicare Supplement Plan is right for you, contact us.