Medicare Open Enrolment

Medicare open enrollment is here. In this issue we answer important questions about Medicare and supplements.

First off, what is Medicare? Medicare is essentially health insurance coverage for seniors.  It is split in to two parts. Part A and Part B. Part A covers:

·         Hospitals

·         Skilled nursing facilities

·         Hospice

·         Home health care

Part B covers:

·         Doctors

·         Other health care providers’ services

·         Durable medical equipment

·         Home health care

·         And some preventative services

What is not covered under Medicare?

Medicare does not cover everything and there are deductibles, coinsurance and copayments for some things.

Some of the things Medicare does not cover are:

·         Long-term care (also called custodial care)

·         Routine dental or eye care

·         Dentures

·         Cosmetic surgery  

·         Acupuncture  

·         Hearing aids and exams for fitting them

·         Routine foot care

·         Prescriptions

·         Coverage outside of the United States

What are Medicare supplements? Supplements are plans sold by independent companies to help pay some of the costs that Medicare does not cover. Medicare supplements are sometimes referred to as Medigap policies. These are different from Medicare Advantage plans. Medicare Advantage plans are another way of obtaining Medicare benefits. There are a lot of supplemental plans available. Part D Plans are specifically for prescriptions. To qualify for Medicare supplement plans, you must already have Medicare parts A and B.

 

How old do you need to be to qualify for Medicare?

You can apply between 3 months before and 3 months after your 65^th birthday.

Open enrolment for Medicare Advantage and Medicare Part D is October 15^th through December 7^th.

You can get more information at www.medicare.gov or contact us to speak with a knowledgeable agent who can assist you with applying for coverage and selecting supplements that fit you.