Medicare Health Insurance Plans
Medicare is the national, federally funded health insurance program for people who are 65 or older, or younger people with certain disabilities and/or end-stage renal disease.
What Medicare Plans Cover
Medicare plans covers many inpatient and outpatient services, including medical services, drugs, and medical equipment.
Medicare Part A
Covers inpatient hospitalization, skilled nursing facilities care, hospice care, and partly covers home care.
Medicare Part B
Covers outpatient care, including doctor’s services, medical supplies, and preventative services.
Medicare Part C
Private companies contract with Medicare to provide your A & B benefits. You still need to pay your Part B premiums.
Medicare Part D
A program to help Medicare beneficiaries pay for self-administered prescription drugs.
The annual Medicare open enrollment period runs fromΒ October 15thΒ to December 7thΒ each year
Medicare Part A
Hospital Insurance
Medicare Part A is often called “Hospital Insurance” because it covers everything related to hospitalization, including inpatient hospital stays and skilled nursing facilities. If you have completed 40 quarters (10 years) of work and paid the respective taxes for Medicare, you are eligible for Medicare Part A without having to pay a premium!
Medicare Part B
Medical Insurance
Medicare Part B is known as Medical Insurance. It is part of the original Medicare and covers the cost for any medical services/supplies that are needed to treat your health conditions, including doctor’s services, preventative services, ambulance services, laboratory tests, imaging, and other outpatient services.
Medicare Part C
Medicare A & B Combined
Medicare Advantage (Part C) plans are sold by private insurance companies and replace the coverage provided by Medicare Parts A & B. Anyone who purchases a Medicare Advantage plan will not need a Medicare plan or a Medicare Supplement plan, as both will be covered by the Medicare Advantage plan.
Medicare Part D
Prescription Plan
Medicare Part D is the drug coverage regulated and approved by Medicare, but offered by insurance companies. Each plan varies not only in monthly cost, but also in drug coverage. Thus, it is important not to base your enrollment on just the monthly cost of the plan. When you go with Ikhlas, we will take into consideration your monthly premium, your annual deductible (if there is one), and your annual drug cost to make sure you are getting the best overall coverage for the year.
Medicare Supplement
Medicare is great! It offers a lot of health coverage with a big network of hospitals and doctors. However, it does not cover all your out-of-pocket costs, and they could add up to be quite substantial! Thatβs why itβs important to enroll in a Medicare Supplement Plan, also known as a Medigap Plan.
Β
Medicare has standardized all Medigap plans (identified by the letters A through N) so that all the health insurance companies that offer those plans must offer the exact same coverage. No company can offer more or less coverage than any other company. This is important to stress: regardless of the company purchased from, the only difference between plans with the same letter is the cost!
The idea behind Medicare Supplement plans is to limit the unlimited out of pocket risk that you have with Medicare alone. Mainly, supplement plans cover the hospital charges that are not covered by Medicare, along with the 20% gap that you are required to pay for doctor visits and outpatient surgeries, which could prove quite substantial in serious operations. It is essential for seniors to be covered by a Medicare Supplement policy to protect their hard-earned money that they’ve been saving throughout their careers.
Β
Here at Ikhlas Insurance Group, we do the running around of comparing the rates with many different health insurance companies and Medigap plans to be sure we provide you with the absolute best rates for the best coverage possible! Do not hesitate to reach out to us at 833.853.5333 or to schedule a free consultation with us! We are here to answer your questions!
Ikhlas Insurance Group is a privately held corporation operating under Ikhlas Inc. Submission of your information constitutes permission for a licensed insurance agent to contact you with additional information about the cost and coverage details of health plans. Descriptions are for informational purposes only and subject to change. Insurance plans may not be available in all states. For a complete description, please call 1-855-200-6335 to determine eligibility and to request a copy of the applicable policy. We do not offer every plan in your area. Currently, we represent 8 organizations which offer 527 plan products in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program (SHIP) to get information on all of your options.
Book a Free Consultation Today!
Book a free consultation with one of our experts to discuss your Medicare plan. All of our services are free!