Original Medicare—Part A and Part B
Original Medicare is the most common and widely available of the Medicare plans. This category includes both Part A and Part B and offers basic healthcare coverage at a low rate.
Part A is also often referred to as hospital insurance due to the coverage it offers. Living up to its name, Part A covers things such as:
- Hospital Inpatient Care (Up to 60 Days)
- Nursing Facility Care (Up to 60 Days)
- Nursing Home Care (Upon Approval)
- Hospice Care (Upon Approval)
- Home Health Services (Upon Approval)
Most people qualify for premium-free Part A, meaning that they are not required to make month-to-month payments for continued coverage. Part B coverage includes (but is not limited to):
- Cardiac Rehabilitation
- Ambulance Services
- Diabetes Supplies
- Durable Medical Equipment (DME)
- Kidney Dialysis Services and Supplies
- Outpatient Mental Healthcare
- Physical Therapy
While Part A can be premium-free, the standard Part B premium in 2021 is $148.50.
Medicare Advantage—Part C
Medicare Advantage, or Part C, is an optional addition to your Original Medicare coverage. With one of these plans, your overall consistent healthcare costs, such as doctor’s visits and regular care, are lowered, if not covered completely.
Because Medicare Advantage is offered privately (unlike Original Medicare, which is provided through the federal government), your cost for a plan may vary. But, no matter what, you can expect these five plan options:
- Special Needs Plans (SNPs)
- Preferred Provider Organization (PPO) plans
- Health Maintenance Organization (HMO) plans
- Private Fee-for-Service (PFFS) plans
- Medicare Medical Savings Account (MSA) plans
Prescription Drug Plan—Part D
Medicare Part D covers prescription drug costs. There are five different tiers your prescription needs may fall into, each of which varies on the amount of money you have to pay out-of-pocket, referred to as your copayment.
Medicare Supplements—Medigap
Medigap, often referred to as a Medicare Supplement, is an optional addition to your Original Medicare coverage. This may sound familiar—like Medicare Advantage, these plans provide extra coverage not available under Parts A and B alone. There are ten different plans, including A, B, C, D, F, G, K, L, M, and N.
Weller Insurance Services Has Medicare Advice Made For You
Medicare is an incredible insurance option for many individuals. Unfortunately, finding the coverage you need requires a lot of expertise and insider knowledge that most people lack.
You need a skilled agent to work with you to find personalized coverage at a great price. When you’re ready for your consultation or additional information, call Weller Insurance Services at 405-721-2021. With many years of experience in serving Oklahoma, we’ve got you covered.
