Senior Solutions

Medicare Supplements, Medicare Advantage Plans, Part D Drug Plans

Medicare is a federal health insurance program for people 65 and older, some people under 65 with disabilities, and people with end-stage renal disease or Lou Gehrig’s disease. If you are on Medicare, it will pay for much – but not all – of your health care.

You can buy Medicare supplement insurance to help pay some of your health care costs that Medicare alone won’t pay. Because it helps cover some of the “gaps” in Medicare coverage, Medicare supplement insurance is often called Medigap insurance.

 

Our Senior Solutions Specialst, Tony Montgomery, can assist you in navigating the maze of complicated Medicare Supplements, Medicare Advantage Plans and Part D Drug Plans.

Tony Montgomery, Senior Solutions Specialist

717.735.7181

email tmontgomery@murrayins.com

 

 

Medicare Advantage Plans

You may have the option to join a Medicare Advantage plan (formerly called Medicare + Choice or Medicare Part C). To be eligible, you must have both Medicare parts A and B and live in an area that has a plan. If you enroll in a Medicare Advantage plan, you are still part of the Medicare program.

Medicare enters into annual contracts with insurance companies and managed care plans to offer Medicare Advantage plans in specific geographic areas. Medicare pays the plan a set amount each month, and the plan provides Medicare parts A and B services to its members. You pay your monthly Medicare Part B premium, any premium the Medicare Advantage plan charges, and any copayments, deductibles, and coinsurance.

>> Contact Tony Montgomery to learn more and to discuss your options

 

Medicare Supplement Insurance

Medicare supplement insurance fills in the gaps between what Medicare pays and what you must pay out-of-pocket for deductibles, coinsurance, and copayments.

Medicare supplement policies only pay for services that Medicare deems medically necessary, and payments are generally based on the Medicare-approved charge. Some plans offer benefits that Medicare doesn’t, such as emergency care while in a foreign country.

There are 10 standardized Medicare supplement insurance plans. Each plan is labeled with a letter of the alphabet and offers a different combination of benefits. Plans F, K, and L offer a high-deductible option. Plans K, L, and M have a cost-sharing component.

>> Contact Tony Montgomery to learn more and to discuss your options

 

Medicare Part D Drug Coverage

Medicare prescription drug coverage is insurance run by an insurance company or other private company approved by Medicare. There are two ways to get Medicare prescription drug coverage:

Medicare Prescription Drug Plans. These plans (sometimes called "PDPs") add drug coverage to Original Medicare, some Medicare Cost Plans, some Medicare Private Fee-for-Service (PFFS) Plans, and Medicare Medical Savings Account (MSA) Plans.

Medicare Advantage Plans (like an HMO or PPO) are other Medicare health plans that offer Medicare prescription drug coverage. You get all of your Part A and Part B coverage, and prescription drug coverage (Part D), through these plans. Medicare Advantage Plans with prescription drug coverage are sometimes called "MA-PDs."

If you decide not to join a Medicare drug plan when you’re first eligible, and you don’t have other credible prescription drug coverage, you will likely pay a late enrollment penalty.

>> Contact Tony Montgomery to learn more and to discuss your options