Medicare Coverage - Three Major Choices

Medicare Coverage - Three Major Choices

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Major Medical
>> Individual & Family Health
> Standalone or Combine
with other Plans
>> Hospital Confinement
> Accident Insurance
> Critical Illness Insurance
up to $100,000 Lump Sum
>> Senior Dental Insurance
>> Discount Dental Plans
Health Access Plans
>> Cover Everyday Needs
Higher Risk Plans
>> Diabetics
>> Heart Conditions
>> Other Medical Conditions
Short Term Medical
>> In-Between Jobs
>> Waiting for Medicare Age
>> COBRA Alternative
First Diagnosis
Cancer Insurance
>> Lump Sum Benefit
> $5,000 to $50,000 Amount

Medicare is the name of the Federal Health Insurance program for persons over the
age of 65 and those individuals with disabilities who qualify for Medicare coverage.
Medicare is not to be confused with Medicaid.

Original Medicare (Parts A & B) remains in place even if supplementing your coverage
with a Medicare Advantage or Medicare Supplement (MediGap) plan. Your Part B monthly
premium still needs to be paid. For most people, that premium is taken out of Social

Retirees with Employer Group coverage typically acquire Medicare coverage through their
past employer. They can optionally opt out of Employer Group retiree coverage but will not
be able to return to that plan. Be sure to contact your past employer human resources
office prior to making any decision to opt out of a retiree Employer Group plan.

The THREE major choices for any individual when they become eligible for Medicare health insurance coverage and are not already covered by a retiree Employer Group coverage
plan are:

1. Original Medicare (Typically enroll through a local Social Security office)

Broad range of coverage with potential high financial exposure due to having
to pay for deductibles, 20% coinsurance in most cases, and copayments.

Part A
-- (Hospital Insurance) Gives help with hospital costs.
Part B -- (Medical Insurance) Helps with doctor''s care and outpatient care.

Part D prescription drug coverage can be optionally added to Original Medicare
through private insurance companies for an additional premium.

2. Medicare Advantage

Part C -- Health Plans that combine hospital costs, doctor''s care, and outpatient
care into a single plan. These often do not have monthly premiums but use alternate cost sharing methods (copays and coinsurance) to pay for
services . Available from private insurance companies. Some plans include
Part D prescription drug coverage at no extra cost and are commonly referred
to as MAPD plans (Medicare Advantage with Prescription Drugs).

Additional Benefits - Some additional benefits may be included in MAPD''s such as
health screening tests, nurse help lines, physical fitness and exercise programs.

3. Medicare Supplement + optional Part D

Medicare Supplement Plans -- Plans from private insurance companies
that help cover some or all of the health care costs ("gaps") that Original Medicare
doesn''t cover, like copayments, coinsurance, and deductibles. Sometimes
referred to as a MediGap plan. These plans have monthly premiums and do not
include prescription drug coverage.

Part D
-- Prescription Drug option available from private insurance companies that
helps pay for prescription drugs.

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