MEDICARE

NEW TO MEDICARE

When you qualify for Medicare, or original Medicare, you must be aware of the benefits, cost-sharing responsibilities, but most important, the gaps. You can watch my video where I explain more in detail.

Original Medicare covers Part A and Part B. Part A covers Inpatient also known as hospital coverage among other services related. Part B is the medical part, like doctors’ appointments, MRI’s CT scans, chemotherapy among other services Original Medicare is the most common to enroll in, but you must also qualify and enroll in these parts before you can be eligible for the other two options.


Why you need two or other options, because original Medicare has many coverage gaps: The deductibles for part A and B, the 20% co insurance after the 80% Medicare covers, there no maximum out of pocket, no prescription drugs coverage

Most people do not need to pay a premium for Part A since it’s covered by the Medicare taxes you’ve paid throughout your career, but you do need to pay for Part B.

What are the two options to cover those gaps: Supplement and Medicare advantage or part C.

NEW TO MEDICARE

When you qualify for Medicare, or original Medicare, you must be aware of the benefits, cost-sharing responsibilities, but most important, the gaps. You can watch my video where I explain more in detail.

Original Medicare covers Part A and Part B. Part A covers Inpatient also known as hospital coverage among other services related. Part B is the medical part, like doctors’ appointments, MRI’s CT scans, chemotherapy among other services Original Medicare is the most common to enroll in, but you must also qualify and enroll in these parts before you can be eligible for the other two options.


Why you need two or other options, because original Medicare has many coverage gaps: The deductibles for part A and B, the 20% co insurance after the 80% Medicare covers, there no maximum out of pocket, no prescription drugs coverage

Most people do not need to pay a premium for Part A since it’s covered by the Medicare taxes you’ve paid throughout your career, but you do need to pay for Part B.

What are the two options to cover those gaps: Supplement and Medicare advantage or part C.

Here are a few easy pointers that will help you get started:

  • You can choose which Medicare Advantage, Medigap, and Part D provider you want to go with and find the price best for you
  • Medicare can be primary or secondary to your employer insurance
  • You can pay for Medicare through yearly deductibles, monthly premiums, and coinsurance or copayments
  • You may be automatically enrolled in Original Medicare if you qualify for it; you may also receive premium-free Part A

Medicare supplement or Medigap


It comprise ten separate plans that each offer various benefits at different prices. You can add these to Original Medicare. Medigap plans cover costs that Original Medicare doesn’t cover such as copayments, deductibles and coinsurance. But this is not enough, since Medicare Supplement only covers part a and part B. So you need to add, Medicare part D or prescription drugs plan.


Part C includes Medicare Advantage Plans that offer additional coverage through private healthcare providers. They coordinate with your Original Medicare plan to offer more benefits and decrease out-of-pocket costs. Some Advantage Plans also provide benefits such as hearing, dental, and vision.


Part D plans cover pretty much all kinds of prescription drugs and can be used in combination with Original Medicare or Part C. You’ll need to pay a premium for it, but the amount for your prescriptions will ultimately depend on which tier it falls in. The lower the tier, the lower the cost.

Medicare supplement or Medigap


It comprise ten separate plans that each offer various benefits at different prices. You can add these to Original Medicare. Medigap plans cover costs that Original Medicare doesn’t cover such as copayments, deductibles and coinsurance. But this is not enough, since Medicare Supplement only covers part a and part B. So you need to add, Medicare part D or prescription drugs plan.


Part C includes Medicare Advantage Plans that offer additional coverage through private healthcare providers. They coordinate with your Original Medicare plan to offer more benefits and decrease out-of-pocket costs. Some Advantage Plans also provide benefits such as hearing, dental, and vision.


Part D plans cover pretty much all kinds of prescription drugs and can be used in combination with Original Medicare or Part C. You’ll need to pay a premium for it, but the amount for your prescriptions will ultimately depend on which tier it falls in. The lower the tier, the lower the cost.

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