What is Medicare?
Medicare is the US Federal Government Health Insurance Program for:
- People 65 years of age and older.
- Some people with disabilities under age 65.
- People with End-Stage Renal Disease (permanent kidney failure requiring dialysis or a transplant).
Medicare has four parts:
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Part A (Hospital Insurance)
Most people do not have to pay for Part A. -
Part B (Medical Insurance)
Most people pay monthly for Part B.* -
Part C (Medicare Advantage Plans)
Medicare Advantage plans are offered by private insurance companies as an alternative to Original Medicare; plans are government subsidized and regulated. -
Part D (Prescription Drug Coverage)
Part D Plans are offered by private companies to provide coverage for prescription drug costs; plans are government subsidized and regulated.*
*For Part B and Part D, people will pay more than the standard amount if their modified adjusted gross income as reported on their IRS tax return from 2 years ago is above a certain amount.
You can choose different ways to receive your Medicare coverage for example:
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- Original Medicare and add a Medicare Supplement (to help pay for the gaps in Medicare coverage). You can join a standalone Medicare Prescription Drug plan also known as part D (PDP) if you want drug coverage
- A Medicare Advantage Plan also known as Part C, this plan may include Medicare prescription drug coverage
- Original Medicare only and you want drug coverage; you can join a standalone Medicare prescription drug plan (also known as Part D).
In most cases, if you don’t make a choice you will have original Medicare only and if you don’t choose a plan with prescription drug coverage you will be charged more when you do.
Sound confusing?
That’s where we can help! As a licensed insurance broker in PA who is contracted with many insurance carriers, we can provide you with the valuable service of explaining the differences between each of your Medicare options. I can then provide you with a complementary personalized needs analysis and cost comparison so that you can make an informed decision and choose the Medicare Plan that is correct for you.
Call us for your options and to start saving money.
“Medicare has neither reviewed nor endorsed this information.”
