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MEDICARE & MEDICARE SUPPLEMENTAL INSURANCE BASICS:


Overview

The Centers for Medicare & Medicaid Services (CMS) administers Medicare, the nation's largest health insurance program, which covers nearly 40 million Americans. Medicare is a Health Insurance Program for people 65 years of age and older, some disabled people under 65 years of age, and people with End-Stage Renal Disease (permanent kidney failure treated with dialysis or transplant).


Medicare Coverage Basics
What is Medicare Part A Coverage?

Medicare is a health insurance offered by the federal government to most people who are 65 years old and older and to some younger people who have disabilities. Part A is the original Medicare insurance coverage and it helps pay for hospital bills. When you sign up for Medicare, you automatically get Part A. Most people will not have to pay a monthly cost (premium) for Part A because they or their spouse paid Medicare taxes while they were working. Part A covers cost when in the hospital, such as:

     • Hospital rooms
     • Meals
     • Nursing services
     • Part A also covers hospice care and home health care

Part A is one of four types of insurance coverage offered by the federal government for people who qualify. It is the only part in which coverage is automatic and where there are no monthly cost involved for most people.

What is Medicare Part B Coverage?

Medicare Part B is for people who qualify for Medicare. Its purpose is to provide coverage for health care not covered under Part A. Part B provides coverage for doctors services outside the hospital setting and other medical services that Part A doesn't cover. Additional services covered include:
  • Doctor visits - whether received as an inpatient at a hospital or at a doctor's office, or as an outpatient at a hospital or other health care facility.
  • Laboratory tests and X-rays
  • Physical therapy or rehabilitation services
  • Ambulance service
  • Some home health care
  • Various medical equipment and supplies when they are medically necessary
The cost for the Medicare Part B premium is deducted from your Social Security Check. There is also a co-pay of 20% of all Medicare approved amounts for service and supplies paid for under the policy. The premium cost increases yearly in January. If you do not sign up for Medicare Part B when you are first eligible, you may have to permanently pay a higher monthly premium.



Why do I need Medicare Supplement Insurance?
Medicare, on average, covers just 56% of your health care expenses so you'll be responsible for deductibles, co-insurance and more.

Why should I choose an Medicare Supplement Plan?
These plans provide the stability and financial security that a true insurance product should. They keep your Medicare in place and cover the expenses that Medicare doesn't. Listed are some of the key benefits
  1. Freedom to choose your own doctors
  2. No claim forms to file
  3. Rates do not increase based solely on age and you can't be singled out for a rate increase. Any rate change will apply to all members of the same class insured under your Plan who reside in your state
  4. Coverage wherever you travel in the U.S.
  5. Available in all fifty states, plus D.C., Puerto Rico and U.S. Virgin Islands
  6. Emergency care during foreign travel
A Medicare Supplement covers expenses not covered by Medicare. These expenses include out-of-pocket expenses for stays in hospitals or skilled nursing facilities, blood, and the Part B deductible and percentage costs of other covered services. Additionally, some insurance plans provide for benefits such as at-home recovery and foreign travel emergency care.

We provide several Medicare Supplement insurance plans designed to meet your individual needs and budget, all supported by our unbeatable service.

Related links:

Medicare Part A & B