Seniors

Medicare is a federal health insurance program for people 65 years of age or older. It pays for a portion of your health care, but not all. As you age, and your health care costs increase, the differential in actual dollars will also increase.

Medicare has mutliple parts:

• Medicare Part A covers major medical costs (hospitalization);
• Medicare Part B covers doctor's office costs;
• Medicare Part C provides for what is commonly called Medicare Advantage plans;
• Medicare Part D is the new medicare prescription drug plan.

Medicare Supplement plans have been around for decades, sometimes have been termed Medigap policies, and are designed to cover those areas that Medicare Parts A & B do not cover. In order to apply for a supplement plan, a Medicare recipient must have both Parts A & B. Supplement plans are standardized -- meaning that which ever carrier offers a plan, each plan category has the same coverage. Supplement plans are guaranteed issue with a few months of the applicant's 65 birthday. After that they can be medically underwritten.

Medicare Advantage plans (Part C), require applicants to particpate in both parts A & B. With a Medicare Advantage plan the applicant must continue to pay the Part B premium. These plans can take the form of HMO, PPO, regional PPO or private fee for service (PFFS) plans.

Part D provides for outpatient prescription drug coverage. The federal government contracts with a number of Rx providers in each region. Learn more about Part D by clicking this link.

For more information or to get a quote, fill out our online Medicare quote form.