Medicare is a fee-for-service health care program for people age 65 or older and those younger for certain medical conditions. Medicare is a government run healthcare plan that pays health care providers directly for services that fall under Parts A and B of Medicare benefits (see below).
Medicare is set up with four categories. This allows you to customize your personal coverage when shopping for a comprehensive policy as follows:
- Part A (hospital insurance): Covers hospital care, emergency services, nursing home care, home health services and hospice. Part A coverage typically has a deductible and co-insurance amount set by CMS and may change annually.
- Part B (medical insurance): Covers medically necessary services and supplies, after a deductible, used for diagnosing and treating medical conditions, and preventative services for illness prevention and/or early detection. Examples include ambulance services, mental health care, outpatient procedures and clinical research. Part B coverage typically has a deductible and co-insurance amount set by CMS and may change annually.
- Part C: Combines Parts A and B and often part D as well, widely known as a Medicare Advantage Plan
- Part D: Offers prescription drug coverage.
What Medicare options are available?
JAG offers two Medicare plans that our agents are able to assist you with:
- A Medicare Advantage Plan, also known as Part C, combines Part A and Part B as a replacement to Medicare for more comprehensive health care coverage. This plan can be customized with additional coverage, such as a prescription drug program (Part D), vision and dental.
- A Medicare Supplemental Plan, also known as Medigap, has a higher premium but supplements the coverage gaps and deductibles that Part A and Part B have. Having a Medigap Plan with Original Medicare may give you access to more doctors and hospitals
Which Plan works best for you?
Seniors are in the most need of health care, however, everyone is different when it comes to budget and health needs. Speaking with an agent who can help you find the right solution for your specific needs can help you with your decision process. And there is never a charge to work with an agent.
Click here to schedule an appointment with John W. Reed, CASL® to get more information or a free quote. We welcome the opportunity to work with you to determine which Medicare options works best for you. You can call Medicare 24 hours a day by dialing 800-MEDICARE or by going to their website https://www.medicare.gov/.