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choose the right medicare plan
The Medicare process can be puzzling especially if you’re navigating through the process alone. If you choose the wrong plan It could be catastrophic. However, It doesn’t have to be this way. Alpine Agency can give you the expert guidance you deserve, so you can choose your Medicare plan with confidence.
If you are struggling to get started and are overwhelmed with all of your options, download our FREE Easy Guide today.
Medicare Basics in One Easy Guide
If you are new to Medicare or find navigating the Medicare process confusing you are not alone. With so many parts and plans, it can be overwhelming.
Medicare is federal health insurance available for eligible individuals age 65 and over. There are also circumstances where Medicare is available to individuals under 65 with certain disabilities or medical conditions. Medicare currently consists of four different coverage parts labeled A, B, C, and D. All coverage parts have specific enrollment time frames depending on the plan you choose. Let’s start with reviewing each of the Medicare parts and add-on options outlined below.
Original Medicare is a government insurance program. In most cases, it is for individuals aged 65 and older. This has two parts:
MEDICARE PART A
Medicare Part A (or hospital insurance) generally helps cover hospital stays, care in a skilled nursing facility, hospice care, and some home health care services. With Medicare Part A, you typically pay a deductible and coinsurance and/or copayments.
MEDICARE PART B
Medicare Part B (or medical insurance) covers health services from your doctor. This includes outpatient medical care, medical care, and preventative care like vaccines. Under Medicare Part B, in most cases, you will pay 20% of the Medicare-approved amount for certain items and services. A deductible may also apply with Part B.
INITIAL ENROLLMENT PERIOD
This is the best time to enroll in Original Medicare and any other supplementary plans. For example, if your 65th birthday is May 6th, you can start enrolling in Original Medicare between February and August.
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Gives you the opportunity to enroll in Original Medicare after your initial enrollment period or after age 65 with no penalty. Typical qualifications include, but are not limited to:
MEDICARE PART C
If you are looking for another way to get Medicare coverage, Part C—or Medicare Advantage Plans—may be a lower out-of-pocket cost option to consider. With a Medicare Advantage plan, you will receive coverage for all Part A & B covered services. Most Medicare Advantage plans also include Part D drug coverage. Click here to learn more.
MEDICARE ADVANTAGE OPTION
Part A and Part B + Most plans include: Part D + Some plans also include: lower out-of-pocket costs and/or extra benefits
MEDICARE PART D
Part D prescription drug plans (also called PDPs) help people with Medicare to more easily afford prescription drugs. This coverage can help reduce your costs for medications and is available only from private companies. This is a separate drug plan that you purchase in addition to Original Medicare. Click here to learn more.
Here are the combinations of coverage you can have with a PDP:
MEDICARE SUPPLEMENT
Since Medicare wasn’t designed to cover all health care expenses, you can purchase a Medicare Supplement plan (also known as a Medigap policy), in addition to Original Medicare. When you have a Medicare Supplement insurance policy, it helps fill the gaps that Original Medicare doesn’t. Different policies are identified by letters in the alphabet. Each policy has a different level of gap coverage. Click here to learn more about Medicare supplement plans.
MEDICARE SUPPLEMENT OPTION
Part A and Part B + You can add: Part D + You can also add: Supplemental coverage
Original Medicare doesn’t cover everything.
Medicare Supplement Plans also known as MedSupp or Medigap work with your Original Medicare to fill the gaps. These plans come with a higher premium cost but extremely reduce your pocket expenses when you visit the doctor or hospital. You can pair these plans with a PDP!
Medicare Advantage Plans also known as Part C of Medicare are used in lieu of your Original Medicare. These plans come at a cheaper premium cost and are known as all-in-one plans because they include your medical and prescription drug benefits all in one place!
Prescription Drug Plans also known as PDPs are a supplementary insurance policy that were created to assist you with reducing and or eliminating out-of-pocket costs on prescription medications. These plans range in premium depending on carrier and formulary.
The Medicare Easy Guide will help you gain a deeper understanding of how Medicare works. You’ll gain insight into the enrollment process, important deadlines, special enrollment periods, additional coverage options, and more.
With so much to learn about insurance, it's good to have an experienced advocate on your side. With Alpine Agency you'll get personalized, one-to-one guidance from a licensed expert every step of the way.
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We'll match you up with a local agent who will assist you through the process.
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Review all of the healthcare options based on your unique criteria. Enroll with ease!
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Be confident in your plan and live your life fearlessly!
