Medicare Made Easy
Whether you’re approaching 65 or have a permanent disability, trying to learn some of the ins and outs of any type of Medicare plan can be a bit challenging. If you want Medicare made easy and just a quick lesson in Medicare 101, read on to learn what you need to know before your enrollment date.
What Is Medicare?
Medicare is health insurance for those 65 and over as well as those that have a permanent disability. If you begin receiving Social Security benefits at age 65, you will be automatically enrolled in Medicare Part A (hospital) and B (doctor). The tricky part about Medicare in New Jersey is choosing what type of coverage is right for your needs.
What Are Medicare’s Different “Parts”?
When it comes to Medicare, you’ll often hear talk about Part A, B, C, and D, and so on.
- Medicare Part A - This type provides only hospital coverage and related expenses. It also covers hospice, home health care, and skilled nursing facility care. There is no premium to pay.
- Medicare Part B - Enrolling in Part B costs a premium taken from your Social Security payments each month. Part B covers many more services like doctor visits, mental health care, outpatient surgery, lab tests, and medical equipment.
- Medicare Part C - This is called Medicare Advantage and is different from Original Medicare. With Medicare Advantage you will be getting your Medicare through a private insurance company. It often includes dental, vision, and most prescription drug costs. Medicare Part C carries a premium and is usually a health maintenance organization (HMO) or preferred provider organization (PPO).
- Medicare Part D - This type of Medicare is for prescription drug coverage only. Where there is a monthly premium and costs at the pharmacy for the drugs.
More About Medicare Supplements
There are often hidden costs with Medicare that patients struggle to afford, such as copays, deductibles, and other out-of-pocket expenses. For this reason, many patients choose to enroll in a Medicare Supplement plan (also known as Medigap), which “close the gap” of costs which Medicare doesn’t cover. Medigap plans are offered through private insurance companies, and the premiums are based on your age.
Do you need additional assistance in making Medicare easy? Contact New Jersey Medicare Brokers LLC for informed, unbiased advice.