This portion of your Medicare Health insurance covers your in-patient hospital costs. You generally do not pay a premium for Part A, as you paid into this part during your working years. Part A and Part B are covered by the government and you will accrue costs if you do use in-patient services.
This portion of your Medicare coverage covers your Medical costs, this is your outpatient doctor visits. the monthly premium most people will pay for this is $144.60 per month. This typically covers only medically necessary procedures and pays 80% of the bills.
Part D of Medicare is your Medicare Prescription Drug plan coverage. Unlike Part A & Part B, this coverage is administered by private insurance companies. Premiums are less important than the cost of your specific drugs while on the plan.
Medicare Advantage plans are plans administered by private insurance companies that cover your Part A & Part B coverage and are usually set up as either an HMO, or a PPO which must cover at least as much as original Medicare. These plans typically include Part D coverage as well.
how do i enroll?
Before enrolling, it's a good idea to make sure enrolling in Medicare is right for your situation. With a quick conversation, we can help you determine if its right and will explain to you exactly what you need to do next.
Most people who have an Employer Group Health Plan can choose to keep that health plan or join Medicare Part A & B and use their EGHP as a secondary. Before making this decision its important to understand what the associated costs would be, in our experience most Employer plans are more expensive with high deductibles.
Before deciding not to enroll in Medicare Part A, Part B, or Part D coverage it is important to understand there are late enrollment fees you could be subject to if you do not have credible coverage.
We are happy to help you navigate the decision to join a Medicare Health Plan.
How do I know what plan to get?
Generally, you get to choose one of two ways.
Route 1: Medicare Part A, Part B, Part D with a Medicare Supplement to help reduce out of pocket costs when you use medical services.
Route 2: An all in one alternative, set up similar to what you see with employer group health plans with Co-pays, co-insurance, and an out of pocket maximum.
Figuring out what your costs would be for each route is exactly what we help you with so you can determine what's best for you, Schedule an appointment today for help.