HOW TO CHOOSE THE RIGHT MEDICARE PLAN FOR YOUR NEEDS

Medicare is a federal health insurance program for   Medicare Insurance Cape Coral  people who are 65 or older, certain younger people with disabilities, and people with End-Stage Renal Disease (ESRD). When you first enroll in Medicare – and during certain times of the year – you have access to several coverage options that are designed to supplement Original Medicare.

At Minnesota Benefit Association, our mission is to help you understand various types of insurance benefits and determine which coverage best meets your needs. We understand every Medicare decision is personal, and we’re here to help! Let’s take a look at the basics of Medicare and how to choose the right plan for your lifestyle.

What Is Original Medicare?
The two main ways to get Medicare coverage are through Original Medicare or a Medicare Advantage Plan. First, let’s talk about Original Medicare.In 1965, President Lyndon B. Johnson signed Medicare into law. It had two complementary parts, A and B, which are now known as Original Medicare: Medicare Part A (Hospital Insurance): Part A covers hospital stays, care in a skilled nursing facility, hospice care, and some home healthcare.
Medicare Part B (Medical Insurance): Part B covers certain doctors’ services, outpatient care, medical supplies, and preventative services.
 

While Parts A and B provide widely accepted coverage for inpatient and outpatient services (you can use any doctor or hospital that takes Medicare, anywhere in the U.S.), there are additional costs associated with the care that Original Medicare doesn’t cover.

For example, with Part A, you’d have to pay a deductible before your benefits kicks in to cover your hospital stay, and with Part B, you might pay coinsurance at your appointment, and your doctor may prescribe drugs after your visit. These costs can add up.To help people with the out-of-pocket expenses associated with Original Medicare, the government partnered with private insurers to create supplemental coverage plans. This includes prescription drug coverage (Medicare Part D), Medicare Advantage plans (Medicare Part C), and Medicare Supplement Insurance (Medigap).