Medicare 101 – Medicare Coverage Options

Medicare 101 medicare coverage options graphicMedicare 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 B
    • Medical coverage via Original Medicare
    • Monthly Premium
    • Annual deductible and you pay 20%
  • 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 may include 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 the cost sharing associated with Medicare
  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 standalone plan or as part of a Medicare Advantage Plan
  2. Different plans which have different cost-sharing levels
  3. Plans may have deductibles
  4. Plans may cover prescription drugs in the gap
  5. Most plans have in-network retail and mail order pharmacies

How Part D Works

The below is an example and does not represent a specific plan.

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

When the co-pay and retail amount totals $3,310* you are in the Donut Hole. You pay full price until you have paid $1,540* out of your own pocket. You are now out of the GAP and you pay the greater of $2.95 or $7.40 or 5%.

*This does vary by plan.

Let Medicare Solutions compare plans for you so you can get the Medicare Health Plan that meets your health and financial needs. No one should expect all this information to be familiar. That is what we are here for. It can all get a little overwhelming at times, we understand. Medicare Solutions is here to assist you in the process to find what suits your individual needs. We take the time to talk to you for however long it may take until you are satisfied and comfortable with the choices. Medicare Solutions is about personal attention. You speak with a live insurance specialist, not a computer. Call us at 844-839-0813 to start the process of gaining the information and attention you deserve to make the best decision about Medicare Health Insurance for you.

Medicare is sometimes confused with Medicaid. Click here to learn more about the difference between Medicare and Medicaid.