Medicare is a popular government-run healthcare program that millions of Americans rely on for their coverage. But how many different types of plans does Medicare offer? And what are the differences between them? This blog post will break down all the other options available to those covered by Medicare.
If you’re looking for Medicare insurance, check out the Medicare advantage insurance plan of Powerhouse Insurance. They’re one of the bests in their field. Also, we’ll help you figure out which program might be best for you. So read on to learn more!
What is Medicare Plan?
Medicare is a government-financed health-insurance program for all U.S. citizens and legal residents aged 65 and above and includes certain younger persons with impairments or end-stage renal illness. Medicare Advantage plans, also known as Medicare Part C, are an alternative way to receive your Medicare benefits.
These plans are offered by private insurance companies that contract with Medicare. If you enroll in a Medicare Advantage plan, you will still have Medicare coverage. But your benefits will be provided through the private insurance company rather than directly through Medicare.
Types of Medicare Plans
There are four different types of Medicare plans. Original Medicare (Part A and Part B), Medicare Advantage plans, Medicare Part D prescription drug plans, and Medicare Supplement insurance plans.
Medicare Part A and B
Original Medicare is the traditional fee-for-service Medicare program. With Original Medicare, you can see any doctor or hospital that accepts Medicare anywhere. You will pay a deductible for most services before Medicare begins to pay its share. For some services, like preventive care, there is no deductible. You will also have to pay coinsurance or copayments for most services.
Medicare Part C
Medicare Advantage plans (also called Medicare Part C) are an alternative way to receive your Medicare benefits. These plans are offered by private insurance companies that contract with Medicare. If you enroll in a Medicare Advantage plan, you will still have Medicare coverage. But your benefits will be provided through the Medicare Advantage plan, not Original Medicare.
Medicare Advantage plans must offer at least the same level of coverage as Original Medicare. But some Medicare Advantage plans may offer more, such as prescription drug coverage or dental and vision care.
Medicare Part D
Medicare Part D is insurance that covers prescription drugs. You can get this coverage through a Medicare Advantage plan or a stand-alone Prescription Drug Plan (PDP). Prescription Drug Plans are offered by private insurance companies that contract with Medicare. You can also join a Medicare Prescription Drug Plan to add drug coverage if you have Original Medicare.
So, that’s a quick overview of the different types of Medicare plans available. If you want to know more about a particular plan or are ready to get a quote, head over to our website, and we would be happy to help.
And remember, if you have any questions about Medicare – what plan is best for you, how to enroll, when coverage starts – our team at Powerhouse Insurance is here to answer them. Give us a call or email; we would love to chat with you. We’re serving in Boehme and nearby areas.