Medicare Supplement or Medigap plans - can help pay some of the health care costs that Original Medicare does not cover, like copayments, coinsurance and deductibles. Original Medicare will pay its share of the Medicare-approved amount for covered health care costs, then your Medicare Supplement plan pays it share. There are several different Medicare Supplement plans available to you, the most common plan is Plan F.
Medicare Advantage or Part C plans - are a type of Medicare health plan offered by private companies that contract with Medicare to provide with all your Medicare Part A and Part B benefits. There are various types of Medicare Advantage plans including: Health Maintenance Organizations (HMO), Preferred Provider Organizations (PPO), Private Fee-for-Service (PFFS) and Special Needs Plans (SNP). Medicare Advantage plans usually are issued with a prescription drug plan, but they can also be issued without the drug plan.
Medicare Prescription Drug Plan (Part D) – coverage is available through either a standalone Part D, which is usually accompanied by a Medicare Supplement/Medigap plan, or attached as a part of your Medicare Advantage plan. Each drug plan is specific to each person and the medications that they are currently taking.
Give Nick a call today to help you make the best choice for your specific Medicare needs.