Medicare is a federal health insurance program that consists of several different parts. The insurance is available for people age 65 or older, under age 65 for Social Security Disability recipients, and any age with permanent kidney failure. Learn more about Medicare eligibility requirements »
The basic parts of Medicare include the following:
| Type | Coverage | Comments |
|
Part A Hospital Insurance |
Helps pay inpatient hospital care, skilled nursing facilities, hospice and sometimes home health care |
Part A is premium-free for most people |
|
Part B Medical Insurance |
Helps pay for doctor’s services and other medical services typically not covered by Hospital Insurance |
Part B costs $115.40 per month in 2011 for most people If you are receiving Social Security Disability or Retirement benefits, your monthly premium can be deducted from your monthly checks May be assessed a penalty for late enrollment |
|
Part C Medicare Advantage |
Another way to get your Medicare benefits Combines Part A, Part B and often Part D coverage |
Offered by private insurance companies approved by and under contract with Medicare Must cover medically necessary services May charge different copayments, coinsurance, or deductibles for plan services The Advocator Group can help you identify meaningful differences between the plans available to you |
|
Part D Prescription Drug Coverage |
Helps cover prescription drugs |
Offered by private insurance companies approved by and under contract with Medicare May help lower your prescription drug costs and help protect against higher future costs |
| Medicare Supplement (“Medigap”) |
Supplements Original Medicare (Parts A and B) Helps pay for copayments, coinsurance, and deductibles that are not covered by the original Medicare plan |
Often referred to as Medigap, Medicare Supplement plans are offered by private insurers and are not part of the Medicare program The Advocator Group can help determine if you need supplemental insurance |
Reviewing your options as you enroll in Medicare is a complex, time-consuming and overwhelming process. What’s more, choosing the wrong coverage can be a costly mistake that leaves you with significant out-of-pocket expenses. An Advocator℠ Medicare specialist can simplify the process and ensure that the plan you choose will be the right one for your unique needs.
To speak with an Advocator℠ Medicare specialist, call (877) 406‑5160.
