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It can seem complicated, but we’ll make it easy, ensuring you find the coverage you deserve. There’s no obligation to enroll.
Understanding the Four Parts of Medicare
Medicare Part A and Part B—also known as Original Medicare—only covers about 80% of your medical expenses. A recent study indicated that while many first-year Medicare beneficiaries do not elect supplemental coverage, this can be an expensive lesson.** With Medicare Part C, Part D or a Medicare Supplement Plan, you have a safeguard against unexpected out of pocket costs.
Medicare Part A
Helps cover most inpatient hospital, skilled nursing home, home health and hospice care. There is a monthly premium for Part A, but many people will qualify for premium-free Part A.*
Medicare Part B
Covers routine doctor visits, including specialists to treat your medical conditions. It also covers preventative services, which is meant to prevent illness (like the flu) or to detect at an early stage, when treatment is most likely to work best. There is a monthly premium for Part B.
Medicare Part C
Medicare Part C plans, also called Medicare Advantage, work in place of your Part A and Part B benefits. Premiums and costs will vary among plans for copayments, coinsurance and deductibles, so it’s important to compare plans in your area. These plans often include additional benefits like coverage for dental, vision or hearing and may have a $0/mo. premium.
Medicare Part D
Medicare Part D plans, also referred to as Medicare Prescription Drug plans, help cover the cost of prescription medications. It can be purchased in addition to Medicare Part A, B or Medicare Supplement Plans, giving you broader healthcare coverage and potentially saving you money.
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Medicare Supplement Insurance Plans
A Medicare Supplement Insurance plan, also called Medigap, is private insurance that supplements Medicare Parts A and B. It helps pay for some health care costs that Original Medicare doesn’t pay for such as copayments, coinsurance and deductibles. We can help you figure out if a Supplemental Insurance plan works for you. There’s no obligation to enroll.
** If you have worked and paid Social Security taxes for at least 40 calendar quarters (10 years)
*** Source: Henry J Kaiser Family Foundation