Choosing a Medicare plan
Choosing the right Medicare plan can be a confusing journey. We want to make it easier for you! This video explains the Medicare basics. We would also like to explain a bit more about the different parts of Medicare and make it easier to decide which one is right for you.
Once you figure out and enroll in a plan that works for you, you will be able to rest easy knowing that your needs are met. You can go wine tasting in the Willamette Valley, or see the many beautiful sites Oregon has to offer!
A medicare plan is for people 65 and older, people under 65 with certain disabilities, or people of any age with End-Stage Renal Disease (ESRD) (permanent kidney failure requiring dialysis or a kidney transplant).
Four parts to Medicare
There are four different parts of Medicare that can help cover specific services.
Medicare Part A (Hospital Insurance). This part covers Inpatient care in hospitals, skilled nursing facilities, hospice, and home health care.
Medicare Part B ( Medical Insurance). This part covers services from doctors and other healthcare providers, hospital outpatient care, durable medical equipment, and home health care. This part also includes preventive services to help maintain your health and keep certain illnesses from getting worse.
Medicare Part C (Medicare Advantage). This part includes all benefits and services covered under Part A and Part B. Part C is run by Medicare-approved private insurance companies. It also includes Medicare prescription drug coverage (Part D) and may also include extra benefits and services for an extra cost.
Medicare Part D (Medicare Prescription Drug Coverage). The part helps cover the cost of outpatient prescription drugs. It is also run by Medicare-approved private insurance companies. Part D may also help lower your prescription drug costs and help protect against higher costs in the future.
These are the basic parts to different medicare plans. We would be happy to give you more information, or look over which medicare plan would best suit your needs.
Things to remember about Medicare plans
As long as you have Medicare Part A (Hospital Insurance) coverage OR you are enrolled in a Medicare Advantage Plan, you have met the minimum essential coverage, which is a requirement under the Affordable Care Act, and you don’t have to get any additional coverage.
If you only have Medicare Part B (Medical Insurance) you are not considered to have met the minimum essential coverage requirement. This means that you may have to pay a fee. You would pay this fee when you file your federal income tax return.
We would be happy to answer any questions you may have. Please do not hesitate to contact us if you would like more information regarding a Medicare plan or the enrollment process.