Medicare Products
Medicare Supplements, Part D and Advantage Plans
Medicare and Medicare Supplement Plans
Medicare is a national health insurance plan which helps pay medical costs for most residents aged sixty-five and over. It covers a range of health care divided into Hospital Insurance (Part A) and Medical Insurance (Part B). Hospital Insurance covers the costs of hospital treatment and some benefits for skilled nursing and home aftercare. Medical Insurance covers doctors’ bills, hospital treatment as an outpatient, and other allowed costs not covered by Hospital Insurance.
Because a standard Medicare policy does not cover everything, a range of Medicare Supplement Plans (sometimes called “MediGap Insurance”) have been created to provide seniors the option of covering a wider range of treatments and care. These supplements are sold by private insurance companies.
The Supplement Plans provide extra money for expenses that Medicare does not meet in full and they may extend the range of healthcare to include treatments and care that Medicare does not finance or only finances for a limited period. Among such additional features are extended hospital care, longer periods of nursing home card, and some overseas emergency care.
Medicare and the Medicare Supplement Plans are accepted by all hospitals and doctors that accept Medicare assignment.
Medicare Part D (Prescription Drug Plan)
Medicare Part D, the prescription drug benefit offered by the federal Medicare program, began January 2006. It is offered through private insurance companies and is available to anyone who has Medicare Part A and/or Part B.
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Medicare Advantage (Part C) Plans
Medicare Advantage plans are private health insurance plans that are a part of the Medicare program. Members receive their health care services through the private plan. Members enjoy extra benefits and lower out-of-pocket costs than they would if they were in the Original Medicare Plan, but they may be required to see doctors and use hospitals that belong to the plan. People who are familiar with HMOs or managed care health plans in the private sector will notice that Medicare Advantage plans work the same way.
We at Medical Benefits Insurance Agency are happy to answer any questions you have regarding Medicare insurance products and look forward to helping you to identify the most cost effective products that best meet your needs. Please phone us at 513-697-9585.
