What Are My Options?
We understand how difficult it is to make ends meet with an income that’s not sufficient for retirement. That’s why we offer more Medicare insurance options so you can get the healthcare coverage your budget needs- all while maximizing benefits and other incentives.
What Is Medicare?
Medicare is a federally funded program coordinated through the Centers for Medical Services (CMS) and Social Security that offers health insurance to American citizens and legal residents typically over the age of 65 and also people with certain disabilities.
Currently being used by 57 million people, this program is often referred to as Original Medicare and has two parts – Part A and Part B.
You have two different ways to obtain your coverage. You can go through Original Medicare (Parts A and B), which is provided through the federal government, or you can purchase a Medicare Advantage plan (Part C), which is provided by private insurance companies contracted through Medicare.
Generally, when you first become eligible for Medicare, you’ll automatically be enrolled in Original Medicare. You can choose to stay in Original Medicare if you determine that Parts A and B provide you sufficient coverage. You can also join a Prescription Drug plan and and/or a Medicare Supplement plan to go along with your Original Medicare and increase your coverage.
If you feel that Plans A and B don’t provide you enough coverage, you can purchase a Medicare Advantage plan instead, which is an alternative to Original Medicare and operates like an HMO or a PPO. Part C plans typically come with built-in prescription drug coverage, but if not, you may be able to join a stand-alone Prescription Drug plan.
Medicare Versus Medicaid
What is the difference between the two? Medicare is a government-funded program that offers health insurance to individuals 65 and older, while Medicaid is a government-funded program that offers financial assistance to lower-income individuals with their healthcare costs.
Medicaid is operated through a joint effort of the federal and respective state governments that helps lower-income families pay the costs for medical care and custodial long-term care.
Medicaid has strict income restrictions that vary by state.
Additional eligibility requirements are in place to help others that may not be facing just poverty. These include families, women who are pregnant, children, caretakers of children, seniors and the disabled.
Your Medicare Card
Once you’re automatically enrolled in Original Medicare, or you enroll yourself, Social Security mails your Medicare card to the address on file with the Social Security Administration.
This card is for Medicare Parts A and B only. You’ll receive a different membership card if you’re enrolled in Medicaid.
You’ll receive an additional membership card if you enroll in a Medicare Advantage, a Medicare Supplement or a Prescription Drug plan.
If you’re looking for additional coverage, such as vision, dental, hearing or transportation to your medical providers, a Medicare Advantage plan, also referred to as Part C, might be an alternative.
A Medicare Supplement plan, also known as Medigap, is health insurance that is offered by private insurance companies to fill the gaps that Original Medicare doesn’t cover.
Medicare Part D
Prescriptions are an important part of maintaining your health and can be very costly. Premier Insurance Network agents have helped thousands of clients save money on their prescriptions.
Don’t ignore this critical piece of your protection plan. Your family, and those you leave behind, will be thankful you paid attention to this and cared enough to provide for them if the worst should happen.
Want To Learn More About Medicare?
We encourage you to watch our educational videos, read our monthly blog posts, or join us for any of our virtual, interactive webinars where you can quickly learn the fundamentals of Medicare from the comfort of your home.