Medicare basics

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Basic explanation of Medicare benefits and what you can expect when you turn 65.

Basic explanation of Medicare benefits and what you can expect when you turn 65.

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Transcript

  • 1. Medicare Basics What you need to know when you turn 65 Medicare Supplement Plans Medicare Supplement Quotes Medicare Supplement Insurance
  • 2. What is Medicare? • Medicare is health insurance for people 65 and older. • Also for people with certain disabilities or end stage renal disease of any age. • Medicare has several components - Part A, Part B, Part C, and Part D
  • 3. Medicare Part A • Also called Hospital Insurance • Covers inpatient care including critical care facilities, inpatient rehab, and skilled nursing facilities. • Also includes hospice and home health care services.
  • 4. Medicare Part B • Also called Medical Insurance • Covers doctor’s services and outpatient care. • Helps cover some preventive services but not all. • Generally pays 80% of the Medicare Approved amount for covered services.
  • 5. Medicare Part C • Also called a Medicare Advantage plan • A way to get medicare benefits through a private insurance company approved by a contract with Medicare. • Usually has network restrictions, co- pays, and deductibles for services and care.
  • 6. Medicare Part D • Called Prescription Drug Coverage • Run by private companies approved by medicare. • Helps cover the cost of prescription drugs. • Each plan from each company varies in cost and drugs covered.
  • 7. What is NOT covered by Part A and Part B • Prescription drugs - more about part D later • Long term care after 120 days in hospital • Charges above 80% of what Medicare allows • Foreign travel emergency care • $150 deductible for Part B (2010)
  • 8. Can I just buy a Medicare Advantage plan and get everything covered? • In some cases an Advantage Plan makes sense - you just need the facts. • Advantage plans use networks - for coverage to work your provider must be in network. • Advantage plans have co-pays and deductibles. That is why the premiums are lower but could end up costing you more... • Once you are in a plans you CAN NOT change until open enrollment - even if you don’t like it.
  • 9. What do you recommend to cover the “gaps” • Medicare Supplement Plans • The right plan will cover 100% of all doctor, specialist, and hospital expenses you incur. • There are no restrictive networks - go to any doctor or hospital that accepts Medicare. • You can choose to buy another plan anytime if you wish* * In most cases you will have to qualify health-wise. We do have several options without health restrictions.
  • 10. How to get a Medicare Supplement quote • Call at 800-804-4212 or go to www.medicarebenefitsdirect.com • Give us your date of birth and zip code. • That’s it!! We will provide you with the best plan and the absolute best price for you.
  • 11. 800-804-4212 Call us today! Or visit www.MedicareBenefitsDirect.com