Medicare Part A
It helps cover:
Inpatient Care In-Hospital
Skilled Nursing Facility Care
Home Health Care
Medicare Part B
It helps cover:
Doctor & Healthcare Professional Services
Home Health Care
Durable Medical Equipment
Many Preventive Services
Medicare is health insurance for seniors (people 65 years old and over). There are many parts and plans, but Medicare Parts A & B are earned throughout your work life. In some cases, Medicare is for people under 65 with certain disabilities or for people with end-stage renal disease*
Medicare Part C
It helps cover and:
Includes All Benefits and Services of Part A & Part B
Likely Includes Medicare Prescription Drug Coverage (Part D) as Part of the Plan
Is Run by Medicare-Approved Private Insurance Companies that Follow Rules Set by Medicare
Has a Yearly Limit on Out-Of-Pocket Costs for Medical Services
May Include Extra Benefits and Services that are Not Covered by Original Medicare
Medicare Part D
Medicare Prescription Drug Coverage
It helps cover:
Cost of Prescription Drugs
Run by Medicare-Approved Drug Plans that Follow Rules Set by Medicare
May Help Lower Prescription Drug Costs and Help Protect Against Future Cost Increases
Medicare offers prescription drug coverage to everyone with Medicare. Even if you don’t take many prescriptions now, it’s very important to consider joining Medicare Part D. If you decide not to join a Medicare drug plan when you’re first eligible, and you don’t have other “creditable” prescription coverage, you will likely pay an unnecessary late enrollment penalty.
If you are a veteran and receive drugs through the VA, or if you are covered under an employer group plan, than you have what’s known as “creditable coverage.” There are no penalties in these specific cases.
To get Medicare prescription drug coverage (Part D), you must join a plan run by an insurance company or by a private company that’s pre-approved by Medicare. Each plan can vary in cost and coverage, and depending on where you reside there may be as many as 25 different options from which to choose. Each plan has different premiums, co-payments, medication coverage, and formularies (a defined list of covered prescriptions).
Making an incorrect choice could have dire consequences and could cost a lot of extra money each year, so deal with an experienced company that provides unbiased information with an integrity guarantee. That’s us. Domingo & Associates. Experienced in Louisiana Medicare since 1995. Contact us today for a free consultation.
Medicare Advantage Plans
Part C + Part D
Medicare Advantage Plans (called “Part C” or “MA Plans”) are offered by private companies which are pre-approved by Medicare. These private companies must follow the rules set by Medicare.
If you join a Medicare Advantage Plan, you still have Medicare, but will get your Part A (Hospital Insurance) and Part B (Medical Insurance) coverage from your Medicare Advantage Plan. Generally, you’ll get services from a plan’s network of providers. In all types of Medicare Advantage Plans, you’re always covered for emergency care and for urgent care.
These plans must cover all of the services that original Medicare covers (except hospice care). Original Medicare covers hospice care even if you’re in a Medicare Advantage Plan. These types of plans are not supplemental coverage. Medicare Advantage Plans may offer extra coverage, such as:
Health and Wellness Programs
Some Also Include Medicare Prescription Drug Coverage (Part D).
Domingo & Associates is 1 of only 4 general agencies in the entire state of Louisiana that represents all major Medicare Advantage Plans. Reach out today for a free consultation, and we’ll help discover the correct plan for you.
Medicare Supplement Plans
Plans A - N
Including Plans F & G
Original Medicare pays for many (but not all) healthcare services and supplies. A Medicare Supplement Plan is sold by private companies and can help pay some of the healthcare costs that original Medicare does not cover (such as: co-payments, coinsurance, and deductibles). Medicare Supplement Plans are also called “Medigap Policies.”
Every policy must follow Federal and State laws that are designed to protect you. However, it must be clearly identified as “Medicare Supplement Insurance.” Insurance companies can only sell a “standardized” policy, which is identified in most states by letters “A” through “N.”
All Medicare Supplement Plans offer the same basic benefits, but some may offer additional coverage, so make sure to choose the one that best meets your needs. Different insurance companies may charge different prices for the same exact plan, so it is important to accurately compare prices. Here, at Domingo & Associates, we can help explain the differences between Medicare Supplement Plans and we can also help you get the best price. All you have to do is contact us to schedule a free consultation.