Medicare Plans Made Easy At 1, 2, 3
Medicare can be exceedingly complicated and complex. The truth is, that Medicare and the insurance companies do very little to simplify the information. At Q&A Group we have conducted hundreds of Medicare workshops for numerous years all over Southern Arizona. We pride ourselves in being able to break through the maze of information and condense it into easily understandable information.
There are four parts to Medicare-
Medicare Part A is sometimes referred to as hospital insurance and covers medically necessary hospital services and care. Medically necessary is deemed as; services, tests, or materials needed, according to accepted standards of medicine, to prevent, diagnose or treat a malady.
Medicare Part B is sometimes referred to as medical insurance and covers certain physician services, outpatient care, medical supplies, and preventive care.
Part C is more commonly known as Medicare Advantage. It is basically the kind of healthcare coverage you’ve been used to if you have previously had individual or employer-based health insurance. There is a network of doctors from which to choose. Usually, Medicare Advantage plans also include Part D, which helps you pay for prescriptions.
While not part of Original Medicare, the Medicare Prescription Drug Plan (Part D) is very important. It provides coverage for prescription drugs which is offered under Medicare. You can either sign up for a Medicare Prescription Drug Plan (Part D) on its own, or receive drug coverage through your Medicare Advantage Plan (Part C). It does not include coverage for prescription drugs.
Medicare Supplements (also known as Medi-Gap Plans)
Medicare Supplemental Insurance, or MediGap, is insurance on top of your Original Medicare insurance and pays for a portion of deductibles, co-payments, and co-insurance for Part A and Part B services.
Medicare Supplemental Insurance has standardized plans A through N and the percent of out-of-pocket expenses covered depends on the standardized plan you select. You cannot have both Medicare Advantage and Medicare Supplemental Insurance; it’s one or the other. Compare premiums from each to help determine your best solution. It does not cover prescription.
Medicare Advantage Plans (also known as MAPD)