Your Medicare Options Part A, B, C and D Explained.
Part A — Hospital Insurance (usually FREE). Covers Inpatient care in hospitals, Skilled nursing facility care, Hospice care and Home health care.
Part B — Medical Insurance $104.90/mo. or higher based on your past or current income.
Covers Services from doctors and other health care providers, Outpatient care, Home health care, Durable medical equipment and some preventive services. There is a 10% penalty for every year you don't take Part B if you don't have creditable health care coverage.
Part C – Medicare Advantage Plans (Run by Approved Private Insurance Companies)
Covers all of Original Medicare such as Part A & B, but usually include Part D and other benefits such as basic Dental, Vision, Hearing and maybe a gym membership. These plans usually have Copayments, Max Out Of Pocket (MOOP) and you have to have Original Medicare Part A & B before you can sign up.
Part D – Prescription Drug Plans (PDP) (Run by Approved Private Insurance Companies)
Helps cover the cost of prescription drugs and the cost and coverage of different drugs within their formularies can vary. Also note that if you DO NOT have creditable drug coverage and you DO NOT take a drug plan during your election period, you may be charged a 1% penalty for each month you did not take a plan.
Please make sure the you work with an Independent Insurance Agent so that you get the correct coverage and plans that are best for you!!!
Dave and Dawn Cook
(941) 932-1388 or 1389