Medicare Options & Solutions
"I believe that all Seniors, Veterans and Disabled persons deserve the opportunity to understand Medicare and the options available to them and their personal situation, not a one size fits all plan.
As an INDEPENDENT agent I promise to keep things as simple and understandable as possible and to find a plan that fits what YOU need for YOUR situation."
Medicare Advantage Plans
Medicare Advantage Plans are another way to get your Medicare Part A and Part B coverage. Medicare Advantage Plans, sometimes called “Part C” or “MA Plans,” are offered by Medicare-approved private companies that must follow rules set by Medicare. Most Medicare Advantage Plans include drug coverage (Part D). In most cases, you’ll need to use health care providers who participate in the plan’s network. These plans set a limit on what you’ll have to pay out-of-pocket each year for covered services. Some plans offer non-emergency coverage out of network, but typically at a higher cost. Remember, you must use the card from your Medicare Advantage Plan to get your Medicare-covered services. Keep your red, white, and blue Medicare card in a safe place because you may need to use your Medicare card for some services. Also, you’ll need it if you ever switch back to Original Medicare. Below are the most common types of Medicare Advantage Plans.
Health Maintenance Organization (HMO) Plans
Preferred Provider Organization (PPO) Plans
Private Fee-for-Service (PFFS) Plans
Special Needs Plans (SNPs)
What Medicare Part D drug plans cover
All plans must cover a wide range of prescription drugs that people with Medicare take, including most drugs in certain protected classes,” like drugs to treat cancer or HIV/AIDS. A plan’s list of covered drugs is called a “formulary,” and each plan has its own formulary. Medicare drug coverage typically places drugs into different levels, called “tiers,” on their formularies. Drugs in each tier have a different cost. For example, a drug in a lower tier will generally cost you less than a drug in a higher tier.
Medigap (Sometimes referred to as a MedSupp) is Medicare Supplement Insurance that helps fill "gaps" in Original Medicare and is sold by private companies. Original Medicare pays for much, but not all, of the cost for covered health care services and supplies. A Medicare Supplement Insurance (Medigap) policy can help pay some of the remaining health care costs, like:
Copayments
Coinsurance
Deductibles
Part B Penalty:
You’ll pay an extra 10% for each year you could have signed up for Part B, but didn’t.
Part D Penalty:
You’ll pay an extra 1% for each month (that’s 12% a year) if you:
Don’t join a Medicare drug plan when you first get Medicare.
Go 63 days or more without creditable drug coverage).