Everyone’s healthcare needs are different. At Medicare Connection Insurance Services, we help you find the right plan at an affordable cost. Below you will find information on the options available.
A Medicare Advantage plan is an option offered by a private insurance company. These plans are also referred to as Medicare Part C and provide all the benefits of Medicare Part A and Part B. Most Medicare Advantage plans include prescription drug coverage as well as extra benefits for dental, vision, and hearing.
Medicare Advantage plans are network-based, like HMOs and PPOs. HMOs require you to use a network of doctors with little to no flexibility to seek medical care out of the network, except for emergencies. PPOs give members the option to go out of network, but generally at a higher cost.
These plans typically have low to $0 premiums with fixed co-pays for most services like doctor office visits, labs, hospitalization, outpatient surgery, etc.
Medicare Supplement plans, also known as Medigap plans, help pick up the deductibles and coinsurance not covered by Original Medicare Part A and B. These policies are accepted by any doctor or hospital that accepts Medicare.
These plans are standardized, meaning each plan is identified by the same letter, and offers the same coverage by law. Medicare Supplement plans generally have a more expensive monthly premium, but offer more comprehensive coverage. All plans will increase in cost the older you get, and we like to recommend those that have a history of price stability and financial strength.
Some Medicare Supplement plans may also offer additional benefits such as a gym membership and discounts on other health related services.
Medicare Prescription Drug Plans, also known as Part D, help cover the cost of prescription drugs. You can obtain this coverage with either a stand-alone Part D plan or through a Medicare Advantage plan that includes prescription drug benefits.
Every plan has its own list of covered drugs, referred to as a formulary, and premiums, deductibles, co-pays, and/or coinsurance will vary. We help clients find the right Prescription Drug Plan based on their specific medications and pharmacy.
Financial assistance may also be available based on one’s income and assets. We will work with you to determine if you may be eligible.
The Medicare Connection team is here to help you find the Medicare plan that is right for you. Contact us to learn more.