Medicare Overview

Medicare covers many of your health care needs. Today’s Medicare is working with private companies approved by Medicare that provide different ways to get your health care and prescription drug coverage in the Medicare Program. The Medicare plan that you choose affects many things like cost, benefits, doctor choice, convenience, and quality.

Your Medicare plan choices include:

The Original Medicare Plan – This is a fee-for-service plan that covers many health care services and certain drugs. You can go to any doctor or hospital that accepts Medicare. When you get your health care, you use your red, white, and blue Medicare card.

The Original Medicare Plan pays for many health care services and supplies, but it doesn’t pay all of your health care costs. There are costs that you must pay, like coinsurance, co-payments, and deductibles. These costs are called “gaps” in Medicare coverage. You might want to consider buying a Medigap policy or Medicare Supplement policy to cover the gaps in Medicare coverage.

Medigap Policies are health insurance plans sold by private insurance companies to fill the “gaps” in Original Medicare Plan coverage. Medigap policies help pay some of the health care costs that the Original Medicare Plan doesn’t cover. If you are in the Original Medicare Plan and have a Medigap policy, then Medicare and your Medigap policy will pay both their shares of covered health care costs. You can also add prescription drug coverage by joining a Medicare Prescription Drug Plan. Click here for a quote on Medicare Supplement – Medigap Insurance.

Medicare Advantage Plans – Available in many areas, (formally known as Medicare Part C); these plans may cover more services and may have lower out-of-pocket costs than the Original Medicare Plan. Some plans cover prescription drugs. In some plans, like HMOs, you may only be able to see certain doctors or go to certain hospitals to get covered services.

These plans include:

• Health Maintenance Organizations (HMO),
• Preferred Provider Organizations (PPO)
• Private Fee-for-Service Plans
• Medicare Special Needs Plans
• Medicare Medical Savings Account Plans (MSA)

These plans may cover more services and may have lower out-of-pocket costs than the Original Medicare Plan. Some plans cover prescription drugs. In some plans, like HMOs, you may only be able to see certain doctors or go to certain hospitals to get covered services. Click here for a quote and information on Medicare Advantage Plans in your county.

Medicare Prescription Drug Plans – These stand-alone plans add prescription drug coverage to the Original Medicare Plan, some Medicare Cost Plans, some Medicare Private Fee-for-Service Plans and Medicare Medical Savings Account Plans. Click here for a quote and information on Medicare Prescription Drug Plans in your state.