Comprehensive Guide to Medicare Plans in and Around Michigan
We understand that Medicare plans can be complex. With us, you will have a range of coverage plans to fit your healthcare needs, including Medicare Supplement Insurance Plans, Medicare Advantage Plans, and Medicare Prescription Drug Plans.
Medicare Supplement Insurance (MediGap) Explained
Medicare Supplement Insurance Plans, also known as MediGap, are designed to work alongside Original Medicare. Healthcare providers who accept Medicare will also accept a Medicare Supplement, as they only need to bill Medicare.
Medicare typically covers 80% of Medicare-covered benefits, leaving the remaining 20% to be covered by the Supplement. While the cost of Medicare Supplements may increase over time, the coverage they offer remains consistent.
It is important to note that Medicare Supplements do not include Prescription Drug Coverage (Part D, PDP), and there may be penalties for those who do not acquire a PDP when first eligible.
All-in-One Alternative: Medicare Advantage Plans
Medicare Advantage Plans, also known as "Part C" or "MA Plans," offer a comprehensive alternative to Original Medicare. These plans are provided by private companies that are approved by Medicare and still fall under the Medicare umbrella.
Medicare Advantage Plans bundle together Medicare Part A (Hospital Insurance) and Medicare Part B (Medical Insurance), and often include Medicare drug coverage (Part D) as well.
Decoding Medicare Prescription Drug Plans
Medicare is divided into different parts that cover various aspects of healthcare.
Medicare Part A
Medicare Part A covers hospital expenses, including hospital stays, skilled nursing care, hospice, and home health-care services. Deductibles, coinsurance, and copayments may apply.
Part A is earned by paying taxes toward Medicare while working for 10 years (or 40 quarters). If you have not earned Part A, you may be required to pay a premium to enroll.
Medicare Part B
Medicare Part B covers services for the treatment of illnesses or conditions, including doctor's office visits, lab work, x-rays, and outpatient surgeries. It also covers preventive services and durable medical equipment.
A premium is typically required for Part B, even for those enrolled in a Medicare Advantage plan.
Medicare Part D
Medicare Part D adds drug coverage to Original Medicare and other specific plans. Each Part D plan has a unique list of covered drugs (formulary), which are typically organized into different tiers with varying costs.
Lower-tier drugs are generally less expensive than higher-tier drugs, and exceptions may be requested for lower copayments if necessary.
Get in Touch With Us
We offer a range of Medicare plans tailored to your unique healthcare needs. Reach out to schedule a consultation with us and get started on your journey to better health.