Helping You Find the Best Medicare Health Insurance Plan

Medicare is intended for people who are 65 or older, for qualifying younger people with disabilities, and for those who have permanent kidney failure. It's important to understand that you will not be automatically enrolled in Medicare. If you are approaching the age of eligibility and/or have applied for Social Security, you must also complete your Medicare application and begin to transition from your existing plan to Medicare coverage. A delay could result in a gap in your coverage as well as financial penalties.

The Medicare Advantage options are provided as alternatives to Medicare Parts A and B. Sometimes, the Advantage plan is referred to as Part C or the MA plan. There are several options in a Medicare Advantage plan:

• Medicare Health Maintenance Organization: This plan limits coverage to a specific list of doctors, hospitals, and similar providers. It also offers coverage for deductibles, wellness and fitness programs, and a drug benefit plan.

• Medicare Preferred Provider Organization: With a Medicare Advantage PPO, doctors who participate in the network cost less than doctors who are out-of-network. This plan offers dental, wellness, and vision coverage.

• Medicare Private Fee-for-Service: This plan is available through private insurance companies. Decisions such as the amount of coverage and how payments are made are determined by the individual plan. Make sure you understand the plan's terms before signing up.

These options are usually offered through private companies with the approval of the Medicare program. Each one includes the coverage offered through Parts A and B, as well as the specifics described in each plan.

The Medicare Supplement Insurance plan, often known as Medigap, offers help covering costs that Parts A and B don't include. The Supplement plan is not an alternative but an addition to basic Medicare coverage. There are 10 plans from A to N, and each plan has its own set of individualized coverages added to a common set of benefits. These plans vary in cost, and each premium is in addition to the monthly Medicare premium.

The Medicare Prescription Drug plan is Part D. It is purchased in addition to Parts A and B and Medicare Advantage plans to assist with the cost of expensive prescription drugs. Each Medicare Prescription Drug plan covers a specific list of drugs, and those drugs are organized into cost tiers. Part D is not required coverage, but it does offer protection from unexpected prescription drug costs that may arise in the future (Some drugs these days cost thousands of dollars a month).  Additionaly, you may be charged a Part D penalty for not enrolling.

These are the basic forms of the national health program. Part A coverage includes inpatient care given in hospitals, hospice facilities, or skilled nursing facilities. It also pays part of the costs of basic services including doctor visits, lab tests, home health care, as well as some surgeries. Part B plans include partial payment for health care providers and physician services. It also covers some of the costs of outpatient care, some medical equipment, and a variety of preventative services.