Parts of Medicare
Covers inpatient hospital care, skilled nursing care, hospice care, and some home health care.
Covers certain doctors’ services, outpatient care, medical supplies, and preventative services.
Allows individuals to receive their Medicare benefits through a private insurance plan.
Prescription Drug Coverage
Provides prescription drug coverage for those who are enrolled in Medicare.
Advantage plans, also known as Part C, are an alternative to Original Medicare (Part A and Part B). These plans cover Part A and B services and typically include Part D benefits. Cost-sharing, Rx formularies, annual limits on out-of-pocket costs, and participating providers vary plan-to-plan. These plans are administered by independent insurance companies and are available in select counties. They may offer extra coverage for vision, hearing, dental, and wellness programs. You may also need to pay a monthly premium in addition to your Medicare Part B premium.
• Health Maintenance Organizations (HMOs)
• Preferred Provider Organizations (PPO’s)
• Medical Savings Accounts (MSA)
• Private Fee for Service (PFFS)
Medicare Advantage Plans (MAPD)
Medicare Prescription Drug Plans (PDP)
Stand-alone Prescription Drug plans (Part D) can be added to either Original Medicare or Medicare Supplement plans to help cover the costs of your prescription drugs. These plans are offered by private insurance companies. Each Medicare Part D plan has a different formulary, which is a list of prescription drugs that the plan covers. The formulary may change from year to year, so it is important to review your plan's formulary each year to ensure that your medications are still covered.
Social Security Extra Help
Medicare Supplement Plans (Medigap)
Medicare Supplement plans, also known as Medigap, are private insurance plans that provide additional coverage to fill the "gaps" in Original Medicare (Part A and Part B) coverage. These policies are designed to help pay for expenses that are left over after Medicare has paid. A few Medicare Supplement policies offer additional benefits like gym memberships and discounts on vision and hearing. You must also pay a monthly premium for your Medigap plan, in addition to your monthly Medicare Part B premium. One important thing to note about Medicare Supplement plans is that they do not cover prescription drugs. If you want prescription drug coverage, you must enroll in a separate Medicare Part D plan.
Dental, vision and hearing coverage is limited under Original Medicare. Many Medicare Advantage plans offer dental, vision and hearing either included in the plan or for a small additional fee. If you do not have dental, vision and hearing available to you through your policy or you want a larger network of providers to choose from you may be able to purchase a standalone dental or vision policy
Some Medicare Supplement plans and Medicare Advantage plans offer limited reimbursements for emergency services outside the country. Standalone travel plans are highly recommended to avoid the inconvenience of reimbursements. Your emergency medical claims are billed directly to the travel insurance company. You may want to consider purchasing a standalone travel insurance policy that provides more comprehensive coverage for medical care, trip cancellation, emergency evacuation and other travel-related expenses.
Affordable policies available to help cover end-of-life costs. By planning ahead, you can help protect your loved ones from unnecessary financial stress.
Standardized Medicare Supplement Benefit Plans From the State of Montana Medicare Supplement Insurance 2022-2023 Rate Comparison Guide
Source: COMMISSIONER OF SECURITIES & INSURANCE
As independent health insurance agents, they work with many carriers to ensure their clients have the best value and coverage to fit their needs. John and Betty Anderson