Medicare is a federal health insurance program that is offered to individuals who fall under any of the following three categories:
- Those who are age 65 or older
- Select individuals under the age of 65 who have certain disabilities
- Anyone with end-stage renal disease
Original Medicare insurance is split into four different plans, called parts, each of which covers a specific set of services.
Medicare Part A – Hospital insurance
Medicare Part A covers:
- Inpatient hospital stays
- Care in a skilled nursing facility
- Hospice care
- Some home health care
Medicare Part B – Medical insurance
Medicare Part B covers:
- Certain doctors’ services
- Outpatient care
- Medical supplies
- Preventive services
Medicare Part C – All-in-one insurance
Medicare Part C, otherwise known as Medicare Advantage, is an all-in-one alternative to Original Medicare. In other words, it is a bundled plan that includes both Part A and Part B, and usually Part D.
Medicare Part D – Prescription drug coverage
Medicare Part D prescription drug plans add prescription drug coverage to four categories of Medicare plans:
- Original Medicare
- Some Medicare Cost Plans
- Some Medicare Private-Fee-for-Service Plans
- Medicare Medical Savings Account Plans
Additionally, some Medicare Advantage Plans may also offer prescription drug coverage that follow the same rules as Medicare Prescription Drug Plans.
If a traditional Medicare plan does not provide the full coverage you’re looking for, there are Medigap plans available, which you can purchase from a private company to pay certain costs not covered by Medicare Part A or Part B.
Medigap insurance does cover:
- Health care if you travel outside the U.S.
Medigap insurance does not cover:
- Long-term care
- Dental care
- Vision care
- Hearing aids
- Private-duty nursing
- Prescription drugs, usually
Securing Medicare insurance coverage
Medicare insurance is offered by select mainstream insurance companies and other private companies approved by Medicare. It is important to understand your Medicare choices and to pick your coverage carefully because how you choose to get your benefits and who you get them from can affect your out-of-pocket costs and where you can get your care.
At Hanson & Ryan, our licensed insurance agents offer unbiased Medicare insurance information based on decades of experience. If you or a family member are considering a Medicare insurance plan, we can help you make the right decisions as you choose the coverage that fits both your medical and financial needs.
Here are some of the plans we can assist you with:
- Original Medicare
- Medicare supplement insurance, including Medigap insurance
- Medicare Part D prescription drug plans
- Medicare Advantage Plans
When you need to enroll in Medicare, we’ll help you understand your options regarding hospital insurance, medical insurance, prescription drug plans and Medicare Advantage Plans. We’ll present a comparison of all the plans available in our area detailing co-pays, deductibles, participating doctors and dentists, hospitals and even pharmacies. After a personalized review of available plans and costs, we can assist you with completing your enrollment forms before the deadline to ensure you avoid any sort of lapse in coverage.