Akwaaba Insurance Group 520-800-3977
What is Medicare
Understand Medicare's basics? Call us today for more information (520) 800-3977. (608) 949-0239
- Are you turning 65 soon or older?
- Are you younger than 65 with a disability?
- Are you diagnosed with End-Stage Renal Disease (ESRD), or ALS (also called Lou Gehrig’s disease)?
- Call today and get enrolled! (520) 800-3977, Text: (608) 949-0239
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More About Medicare
Original Medicare Part A: covers hospital stay and inpatient care
Original Medicare Part A covers inpatient hospital care and services related to that care. It is offered by the federal government and pays for your hospital stay, including medications, tests, operations, meals, and necessary follow-up care like physical therapy or home health services.
Part A also covers hospice care for those with terminal illnesses. Most people don't pay a monthly premium for Part A, but there is a deductible and some cost sharing when admitted to the hospital.
Original Medicare Part B: covers doctor visits and outpatient care
Original Medicare Part B covers a wide range of medical services to help you stay healthy. It pays for doctor visits, outpatient care, lab tests, some at-home nursing care, preventive care like checkups and screenings, flu shots, medical equipment, and emergency room visits.
Part B also covers most doctor services if you're hospitalized. The federal government provides Part B coverage, but you must pay a monthly premium, an annual deductible, and some cost sharing for medical services.
Medicare Part C: (Part A + Part B) Medicare Advantage (MA) Plan
Medicare Part C: An All-in-One option you can purchase to replace Part A and Part B.
Medicare Part C, also called Medicare Advantage, combines the coverage of Part A and Part B - Original Medicare - and adds extra benefits.
Many plans include prescription drug coverage as well as dental and vision care. Some plans have no copays for most labs or tests. Others offer additional perks like gym memberships and transportation.
Most Medicare Advantage plans have $0 premiums, though you still pay your Part B premium.
There are typically copays for treatment. Medicare Advantage plans cap your annual out-of-pocket costs - once you hit the plan's maximum, you won't pay any more Medicare costs for the rest of the year. Maximums vary by plan.
Medicare Advantage plans function as all-in-one alternatives to Original Medicare. Since they replace Parts A and B, you can't pair Medicare Advantage with Medigap supplemental insurance.
Medicare Part D: Prescription Drug Plan (PDP)
Medicare Part D, also called the Prescription Drug Plan (PDP), helps cover the cost of prescription medications. Adding Part D to Original Medicare paired with a Medicare Supplement plan can provide great coverage.
However, Part D is likely unnecessary if you enroll in Medicare Advantage since most Medicare Advantage plans include prescription coverage.
The specific medications covered depend on your chosen Part D or Medicare Advantage plan. You can purchase Part D through private insurers.
With Part D, you pay a monthly premium, an annual deductible, and either coinsurance (a percentage of the medication cost) or copays (a flat fee) for prescriptions.
The level of prescription coverage depends on which Part D or Medicare Advantage plan you select.
PDP is often purchased separately to supplement Part A and Part B
Medicare Supplement Insurance, also called Medigap, helps fill gaps in Original Medicare coverage by paying for out-of-pocket costs like copays, deductibles, and coinsurance.
Medicare supplemental insurance - Unlike Original Medicare, it provides predictable monthly premiums that let you budget ahead. Medigap plans are guaranteed renewable as long as you pay your premiums on time and can't be cancelled. To expand your coverage, you can add stand-alone Prescription Drug and Dental plans. Medigap is sold by private insurance companies and requires a monthly premium payment. Depending on the plan, you may have some copays. Plan F, Plan G, and Plan N - to help cover expenses not covered by traditional Medicare.
**Plan F provides the most comprehensive coverage, paying 100% of copayments, coinsurance, deductibles, excess charges, and foreign travel emergency so there are no gaps.
Plan G is similar but does not cover the Part B deductible, so beneficiaries pay that out of pocket.
*Plan N is the least comprehensive, requiring copays for some services and the Part B deductible. However, it has lower monthly premiums than Plans F and G. When enrolling, beneficiaries must weigh the tradeoffs and decide if a supplemental plan is right for their health needs, budget, and desired level of coverage beyond traditional Medicare. Enroll today!