Wondering how Medicare works for you? Medicare was built to help lower health care costs, and has seen significant upgrades in the decades since its inception in 1965. There are options to fit all health needs and budgets — but that can make it confusing for many people.
United Medicare Advisors was built to help people navigate the complex world of Medicare. Whether you are newly eligible, are helping a family member shop for plans, or have been enrolled for years, our free resources are available to you!
We’ve spent years creating downloadable guides, writing helpful articles, and performing one-on-one personalized shopping for individuals looking for Medicare help. Let’s see how Medicare works for you!
Medicare
First things first, you might be wondering, “What is Medicare?”
Medicare is also called “Original Medicare”, as this coverage has been included since inception: Part A (hospital insurance) and Part B (medical insurance).
Read our recent article to learn more about this topic.
Medicare Supplement
While Medicare does a great job covering many expenses, you’ll still have to pay approximately 20% of your expected costs out-of-pocket. Things like deductibles, copays, and coinsurance will be your responsibility at each visit.
Some people prefer to obtain supplemental coverage so that they pay one expected amount per month, rather than fluctuating copays and coinsurance every time they need health care. Medicare Supplement Insurance is specifically designed for this purpose! It is accepted everywhere that Medicare is accepted, and it has 10 distinct plan types that make it uniquely easy to compare.
Learn more about this topic here.
Part D (Prescription Drug Coverage)
For a long time, Medicare did not provide any sort of coverage on prescription drug costs. As these costs continued to rise, Part D was implemented in 2006 to help beneficiaries manage these expenses. Now, Part D is a mandatory part of Medicare coverage, and can be purchased only during select enrollment windows (the Annual Enrollment Period is one of them).
There are a lot of details that go along with Part D, so we created a free, in-depth guide to break it down. Go here to download your free guide.
Medicare Advantage
Medicare Advantage is also called “Medicare Part C” because it was created as an alternative to Parts A and B in 1999. This plan type allows beneficiaries to get the same level of Medicare coverage from private insurers (rather than the federal government).
Many people choose this option because it allows you to combine all of your mandatory coverage (Parts A, B, and D) and other perks into a single plan. There are many plan options that combine coverage for some or all of your expected health care expenses. However, because these plans are managed by private insurance companies, network limitations apply (like HMOs and PPOs).
Read more about Medicare Advantage here.
Other Medicare coverage
Even with mandatory and supplemental Medicare coverage, you may still be on the hook to pay for some services out-of-pocket. There are other plan types designed to fill these gaps for anyone looking for comprehensive coverage.
- Dental, Vision, and Hearing: Read more here
- Final Expense
- Fixed Indemnity
- And more!
Medicare and you
To figure out which Medicare option is right for you depends on multiple factors. Along with your budget and location, your lifestyle will play a large role in determining your best fit.
- Do you plan to travel often? If so, you may not want to be tied down to carrier networks.
- Do you have a fixed income? If so, you may want the peace of mind of supplemental coverage to curb unexpected costs.
There are so many things to consider when choosing Medicare plans, but you don’t have to do it alone. The Licensed Insurance Agents at United Medicare Advisors are standing by to help you research and enroll in a plan that fits your unique lifestyle, health needs, and budget.
They’ll help you compare rates side-by-side, based on your specific situation. They make Medicare shopping easy.
Give us a call at (855) 665-9200 or visit our Plan Comparison Tool to get started.
