Medicare Supplemental Plans

Medicare Basics

Medicare insurance is a government-sponsored health insurance program available to most people aged 65 or older and who have paid into Social Security. It’s divided into several sections with differing costs and choices.

Part A covers hospital treatment costs. In most cases there’s no premium payment, but recipients pay a deductible and also pay some coinsurance depending upon their medical treatments throughout the year.

Medicare Part B covers physician services, outpatient hospital services, certain home health services, durable medical equipment, and certain other medical and health services not covered by Medicare Part A. Recipients also pay a deductible and coinsurance.

Medicare recipients can also opt to take out a Medicare Advantage plan—sometimes called Part C. If you want more options, you can go for a Medicare Advantage plan, also known as Part C. You’ll still have to pay the Part B monthly fee, but you’ll get more choices on how you spend your money and what extra services you can get, like eye exams or dental work.

Medicare Part D is standalone prescription drug coverage.

Medigap

Medigap is extra health insurance that you can get to help pay health care costs not covered by Original Medicare, such as co-payments, deductibles, and health care if you travel outside the U.S. Medigap policies don’t cover long-term care, dental care, vision care, hearing aids, eyeglasses, and private-duty nursing. Standardized Medigap plans do not cover prescription drugs.

Medicare insurance can be a complicated issue, contact Legacy Health Consultants today to talk about your options.