Medicare advice.
Medicare can play an important role in your quality of life during retirement. It provides a guaranteed level of healthcare coverage and helps insulate you from rising healthcare costs. However, there are many things to know about Medicare. There are late penalties if you don’t sign up during the proper enrollment periods, so it’s important to know when to apply. It’s also important to remember that each spouse must enroll.
We serve as your Medicare advisors to help you determine when to enroll, understand the various parts and how to use them, analyze the plan features and costs of various insurance providers, and choose the right mix of coverage for you and your family.
The A, B, Cs of Medicare
Medicare Part A (hospital insurance) covers inpatient hospital stays, care in skilled nursing facilities, hospice care and some home healthcare. It’s one of the two parts that make up Original Medicare. It’s available at no additional cost as long as you or your spouse has paid into the Social Security program for at least 40 quarters.
Medicare Part B (medical insurance) covers certain doctors’ services, outpatient care, medical supplies and preventive services. Part B is your medical insurance and the other part of Original Medicare. It covers “medically necessary” services.
Medicare Part C (Medicare Advantage) is a health plan offered by a private company that contracts with
Medicare. It provides Parts A and B, and often Part D. It cannot be combined with other parts. It offers the same coverage as Original Medicare, but adds coverage for other services such as vision, hearing, dental, health and wellness programs and prescription drugs.
Medicare Part D (prescription drug coverage) adds prescription drug coverage to Medicare plans. It’s
offered by insurance providers and other Medicare-approved companies. Coverage can be obtained as a stand-alone plan under Original Medicare or as part of a Medicare Advantage offering.
Medigap is supplemental insurance from a private company that helps pay some of the healthcare costs not covered by other parts of Medicare. It’s important to remember that Medicare does not cover everything.
Count on us to help you navigate the many details and decisions of Medicare – and to help you have the healthcare coverage you need.
