Health Insurance for Those Over 65
Understanding Your Medicare Coverage
Medicare Part A (Hospital Insurance):
- Covers inpatient hospital stays, skilled nursing facility care, hospice care, and some home health care.
- Most people do not pay a premium for Part A if they or their spouse have paid Medicare taxes for a certain amount of time.
Medicare Part B (Medical Insurance):
- Covers outpatient care, doctor visits, preventive services, and some home health care.
- Requires a monthly premium, which varies based on your income.
Medicare Part C (Medicare Advantage):
- Offered by private insurance companies approved by Medicare.
- Combines Part A and Part B coverage and often includes additional benefits such as prescription drugs, dental, vision, and hearing coverage.
- May require additional premiums beyond Part B.
Medicare Part D (Prescription Drug Coverage):
- Helps cover the cost of prescription drugs.
- Plans are offered by private insurers and require a monthly premium.
Enhancing Your Medicare Coverage
Medicare Supplement Insurance (Medigap):
- Helps cover out-of-pocket costs not covered by Original Medicare, such as copayments, coinsurance, and deductibles.
- Offered by private insurance companies and requires an additional premium.
- Plans are standardized and labeled A through N, each offering a different set of benefits
Prescription Drug Plans (Part D):
- Standalone plans that provide prescription drug coverage.
- Important to compare plans based on the formulary (list of covered drugs), costs, and pharmacy network.
Reviewing and Adjusting Your Coverage
As your healthcare needs change, it’s important to regularly review and adjust your Medicare coverage to ensure it continues to meet your needs. At Medinsco, we offer annual reviews to help you:
- Evaluate your current Medicare plan and benefits.
- Compare new plan options and changes in costs.
- Enroll in a different plan if your current coverage no longer suits your needs.
Why Choose Medinsco?
At Medinsco, we are dedicated to providing exceptional service and support to individuals over 65. Here’s why you should trust us with your Medicare needs:
Expert Guidance
Our experienced team provides personalized advice tailored to your specific healthcare needs and budget.
Comprehensive Support
From understanding your initial enrollment period to comparing plans and completing your application, we support you at every step.
Customer-Centric Approach
We prioritize your health and financial well-being, ensuring you have the coverage you need without unnecessary stress.
Special Enrollment Periods (SEP)
If you missed your Initial Enrollment Period or have experienced certain life events, you may qualify for a Special Enrollment Period (SEP). This allows you to enroll in Medicare or change your current plan without penalty. Qualifying events include:
- Moving to a new address.
- Losing other health coverage.
- Changes in your eligibility for Medicaid.
Extra Help Program
For individuals with limited income and resources, the Extra Help program offers assistance with Medicare Part D prescription drug costs. This program can help reduce premiums, deductibles, and copayments for prescription drugs.