Medicare is a federal health insurance plan that offers various benefits. People over the age of 65 or who have disabilities or health issues can also receive healthcare coverage through Medicare. At Safe Key Insurance we understand how important it is to ensure that you make the right coverage decision for your needs. That’s why together, we can unravel everything from plan options to payments and all the steps in between, so you can make a more informed decision.
How do you know if you are eligible for Medicare?
You’re eligible for Medicare if you meet any one of the following requirements:
- You’re 65 years old or older
- You have Lou Gehrig’s Disease or ALS
- You have End-Stage Renal Disease that requires you to get dialysis for treatments or a kidney transplant
- You’ve received disability benefits for at least two years.
Remember to apply during one of the various enrollment periods, especially during the Initial Enrollment Period, so you can avoid late enrollment penalties.
Medicare Part A
Helps cover the following:
- Inpatient care in hospitals
- Skilled nursing facility care
- Hospice care
- Home healthcare
Medicare Part B
Helps cover the following:
- Doctor visits
- Outpatient care (including outpatient surgery)
- Durable medical equipment (wheelchairs, walkers, hospital beds, etc.)
- Preventive services (screenings, shots and annual wellness visits)
Medicare Part C (Medicare Advantage Plans)
Is an “all in one” alternative to original Medicare. These bundled plans cover the same items as Parts A & B, but some also include prescription drug plans along with gym memberships and visions/dental benefits. When considering choosing a Medicare Advantage Plan it is important to determine whether your provider and/or hospital is in-network and current medications are included.
Medicare Part D (Prescription drug coverage)
This is a stand along prescription drug coverage offered thru private companies and are approved by Medicare annually. These plans have many variables to consider that include premiums, deductibles, prescription drugs (verify current medications are on the list of covered prescriptions) co-pays and additional insurance.
Medicare Supplements
Medicare supplements are known as Medigap and comprise ten separate plans that each offer various benefits at different prices. You can add these to Original Medicare. Medigap plans cover costs that Original Medicare doesn’t cover such as copayments, deductibles and coinsurance.
