Medicare Products
Your Medicare Coverage Choices:
There are 2 main ways to get your Medicare coverage— Original Medicare (Part A and Part B) or
a Medicare Advantage Plan (Part C).
***Decide if you want Original Medicare with an optional Medicare Supplement or a Medicare Advantage Plan.***
a Medicare Advantage Plan (Part C).
***Decide if you want Original Medicare with an optional Medicare Supplement or a Medicare Advantage Plan.***
To obtain more information about your Medicare options and costs, contact our
Medicare Specialist, Beth Letterer at:
414.766.9470 Ext. 2 or Beth@brokerresources.com
Medicare Specialist, Beth Letterer at:
414.766.9470 Ext. 2 or Beth@brokerresources.com
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Medicare Part D
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What is Original Medicare?
- Medicare provides this coverage, and it includes Part A (Hospital Insurance) and Part B (Medical Insurance).
- You have your choice of doctors, hospitals, and other providers that accept Medicare.
- You usually pay a monthly premium for Part B.
- Generally, you pay the Part A & B deductibles and co-insurance.
- Normally a Medicare Supplement plan is purchased from a Private Company to help fill in the gaps of Original Medicare ie: deductibles and coinsurance, and to provide additional benefits. You can choose to buy these optional policies from a private company.
- Monthly Premiums vary by policy and company.
- Normally, you will also purchase a Prescription Drug Plan (Part D) along with original Medicare and the Medicare Supplement.
What is a Medicare Advantage Plan?
- This is called Part C and includes both Part A (Hospital Insurance) and Part B (Medical Insurance). It replaces Original Medicare.
- Private insurance companies approved by Medicare provide this coverage.
- In most plans, you need to use plan participating doctors, hospitals, and other providers or you pay more or all of the costs.
- You usually pay a low monthly premium (in addition to your Part B premium).
- You may pay a co-payment or co-insurance for covered services. Costs, extra coverage, and rules vary by plan.
***Decide If You Want Prescription Drug Coverage (Part D)***
What is a prescription drug coverage? (Part D)
- If you are in Original Medicare and you want prescription drug coverage, you must select and join a Medicare Prescription Drug Plan (Part D).
- You usually pay a monthly premium for this coverage, and there are different levels of coverage to choose from.
- If you are in a Medicare Advantage plan in most cases the prescription drug coverage is included as part of your Medicare Advantage plan.
- These plans are run by private companies approved by Medicare.
Note
If you join a Medicare Advantage Plan, you can't use Medicare Supplement Insurance to pay for out-of-pocket costs you have in a Medicare Advantage Plan. If you already have a Medicare Advantage Plan, you can't be sold a Medicare Supplement policy. You can only use a Medicare Supplement policy if you dis-enroll from your Medicare Advantage Plan and return to Original Medicare.
If you join a Medicare Advantage Plan, you can't use Medicare Supplement Insurance to pay for out-of-pocket costs you have in a Medicare Advantage Plan. If you already have a Medicare Advantage Plan, you can't be sold a Medicare Supplement policy. You can only use a Medicare Supplement policy if you dis-enroll from your Medicare Advantage Plan and return to Original Medicare.