We help our clients understand the different parts of Medicare (A,B,C, and D) and how best to pay for their health care.
Medicare Supplement, or “Medi-Gap”, policies pay all or part of what original Medicare (parts A and B) doesn’t pay. For example, original Medicare pays about 80% of its approved amount. A supplement pays the other 20% and even some above the approved amount.
If you have a Medicare supplement policy, Medicare Part D is a prescription drug plan separate from Medicare Part A or Medicare Part B. Medicare Part D must be purchased separately. It can help you pay a lower cost for your prescription drugs. You will still have some out-of-pocket expenses with Medicare Part D but they will be lower than if you did not have insurance. We help you choose the Medicare Part D that saves you the most on your prescription drugs.
Medicare Advantage Plans (Medicare Part C) manage all other parts of Medicare for one low monthly premium. In exchange for the low monthly premium (as low as $0 – yes, zero dollars), you will have copays for doctor visits and hospital stays. Contrary to popular beliefs, these plans will likely be around for the foreseeable future. Obviously, change is the name of the game in this current health insurance environment. All the more reason you will gain from our perspective.
Should you pay $2000 or $200 per year for your Medicare plan? Well, it really depends on your goals and lifestyle. We’ll help you think through all the important issues you face.