The two primary choices senior have in addition to their Part A and Part B coverage are the first 2 listed below. The additional plans are specifically for those who qualify for Medicare and Medicaid. And those that have Chronic Health conditions (Congestive Heart Failure and Diabetes). If you just go with Part A and Part B you are responsible for 20% of your healthcare needs. And their is no limit on the amount of liability you have, that is why a majority of Medicare Beneficiaries add a Medicare Advantage or Medicare Supplement to their coverage.
Medicare Advantage Plans
These plan have small or no premiums and offer coverage benefits that cover the 20% that original Medicare doesn’t cover. But these plan have copays and deductibles. The also provide additional benefits that original Medicare doesn’t like Dental, Vision, Hearing, etc. The usually include Part D drugs at no additional cost.
Medicare Supplement or Medigap coverage
These plans cover the 20% that original Medicare doesn’t but they have monthly premiums and you need to purchase a Part D drug plan. They don’t have additional benefits like Medicare Advantage plans include.
Low Income Medicare and Dual Eligable Medicare/Medicaid
Special Needs Medicare for Diabetes and Congestive Heart Failure.
Hospital Indemnity Coverage – Covers the copays for hospital visits
In addition, you can save on your prescription medications by using the Affordable Meds Prescription Discount Card. Click here to learn more.