Compare Your Medicare Plan Options
Knowing your Options
As an enrollee in Medicare, it is important to consider your options. Although there are many who fall under the coverage of Medicare, coverage can differ greatly from person to person. This is due to the fact that there are multiple options for coverage and benefits all under the umbrella of Medicare. It is important to compare Medicare plans to make sure you are saving money where you can while getting the coverage you need.
The Four Parts of Medicare Coverage
- Medicare Part A – Medicare Part A coverage is sometimes referred to as hospital insurance and in general it covers skilled nursing facility care, nursing home care, hospice and home health services.
- Medicare Part B – Medicare Part B is sometimes referred to as medical coverage. Services and supplies that are needed to diagnose or treat your medical condition and health care to prevent illness or detect it at an early state fall under Medicare Part B coverage. This can include ambulance services, durable medical equipment, inpatient/outpatient mental health services and getting a second opinion before surgery.
- Medicare Part C – Medicare Part C Plans still provide you with Medicare Parts A and B, but you get them through a private company approved by Medicare. Medicare Advantage Plans cover all Medicare services that Medicare Parts A and B cover, except hospice care. Sometimes they even offer additional coverage.
- Medicare Part D – Medicare Part D is prescription drug coverage. It can exist on its own as a private plan separate from Medicare Parts A and B. You can also get prescription drug coverage through your Medicare Advantage Plan. Each Medicare prescription Drug plan has its own list of covered drugs.
What is a Medicare Supplement Plan?
Medicare Supplement Plans are also called Medigap policies. They are sold by private companies approved by Medicare, and can help cover costs like co-payments, coinsurance and deductibles which Medicare Parts A and B don’t cover. There are also some services that Medicare Parts A and B won’t cover and Medicare supplement Plans sometimes offer extra coverage for these. You must have Medicare Parts A and B to get a Medigap policy. Medigap policies only cover one person, so if you and your spouse need coverage, you’ll each have to purchase your own plan.
Remember, you can always leave the research up to us at MedicareSolutions. Our licensed sales agents can help you find the plan that is best for your needs and budget.