Specializing in medicare insurance
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(Original) Medicare is a federally funded program that went into effect in 1965. It is primarily for people 65 and older, but others, that are younger, with certain disabilities may also be eligible.
Part A Medicare among other things helps cover inpatient hospital care, skilled nursing costs, and is free for most people.
Part B Medicare among other things helps cover doctor’s expenses and preventive services. For most people (in 2020) has a premium of $144.50/month.
Part C Medicare Advantage plans cover all Part A, Part B, and usually Part D benefits. It is administered by private companies contracted with Medicare. Must have Part A and Part B to have Part C.
Part D Medicare helps cover the cost of prescription drugs and is administered by private companies contracted with Medicare. Must have Part A and/or Part B to have Part D.
A Medicare Supplement, also known as Medigap policy, is a plan which covers costs not covered by (Original) Medicare. Medicare Supplements (Medigap policies) are sold by private companies. In other words, Original Medicare pays first and a Medicare Supplement (Medigap) pays second. Medicare Supplements do not cover prescriptions. You may have a Medicare Advantage Plan or a Medicare Supplement – not both.
A Medicare Advantage plan is responsible for covering Medicare Part A and Part B benefits and services. Claims are paid by the Medicare Advantage plan (private company) rather than by Original Medicare. Medicare Advantage plans may cover prescription drugs.
Medicare doesn’t cover the first $1,408.00 of hospital expenses, the first 3 pints of blood, Part B deductible which is $198/year (2020); Medicare pays 80% of assignment and you pay the balance. There is no cap on co-pays if you just have (Original) Medicare. The biggest co-pay expenses could be extended stays in nursing homes, radiation, and chemo treatments for cancer. (Original) Medicare does not have prescription drug coverage.