Medicare 101 – Medicare Coverage Options

Medicare can be a confusing topic. That is why Medicare Solutions is here to help, free of charge. Medicare Health Insurance is offered uniformly throughout the country. We offer our service throughout the United States and have the experience to help you make an informed decision about Medicare Health Insurance. Here is a quick overview of your options. To get things started and further go into depth about your options, give us a call today.

The Medicare Alphabet

  • Part A
    • Hospital-Original Medicare
    • No Premium for most people
    • Annual deductible
  • Part B
    • Medical-Original Medicare
    • Monthly Premium
    • Annual deductible and you pay 20%
  • Part C
    • Medicare Advantage Plans
    • Through health plan carriers
    • Advantages (additional benefits)
  • Part D
    • Prescription Coverage
    • Through prescription carriers

You Have Two Options for Additional Coverage

First Option
Medicare Advantage Plans (Part C)

  1. Covers Part A, Part B, and Part D of Medicare
  2. All plans approved by Medicare
  3. Premiums per month
  4. Advantages (annual physical, vision, gyms)
  5. Available through national/regional carriers
  6. Most plans include prescription coverage

Second Option
Supplement or Medigap plans

  1. Covers Part A and B only-Need to buy Part D
  2. Plans are standardized by Medicare
  3. Premiums start at about $110 per month
  4. Available through insurance companies

Medicare Prescription Coverage (Part D)

  1. Available through RX plan and Medicare Advantage
  2. Different plans and co-pay levels
  3. Plans may have deductibles
  4. Plans may cover generics in the gap
  5. Available at pharmacies or through the mail order

How Part D Works

You Pay Co-Pay Retail Price
$7 $100
$29, etc. $250, etc.

When you and the Part D plan together spend a combined total of $3,750 on covered prescription drugs in 2018, you are in the coverage gap (commonly referred to as the Donut Hole). Once you reach the coverage gap, you will pay no more than 35 percent of the plan’s cost for covered, brand-name prescription drugs. Although you’ll pay no more than 35 percent for the medication, what you play PLUS the 50 percent manufacturer discount payment will count as out-of-pocket costs, which helps you get out of the coverage gap.

In 2018, Medicare will pay 56 percent of the price for generic prescription drugs during the coverage gap, leaving you to pay the remaining 44 percent. Find more details about costs in the coverage gap on the Medicare site.

Medicare Solutions can compare plans for you, so you can get the Medicare health plan that helps meet your health and financial needs. We know that it may feel overwhelming at times. That’s why we’re here to assist you in the process and help you find what suits your individual needs. We work with you for however long it may take until you are satisfied and comfortable with your choices. Medicare Solutions is about personal attention. You speak with a live, licensed sales agent, not a computer. Call us toll-free at 1-844-839-0813 to start the process. Gain the information and attention you deserve to make the decision about Medicare Health Insurance that may be best for your needs.

Medicare may sometimes be confused with Medicaid. Click here to learn more about the differences between Medicare and Medicaid.