Today I offer a few Simplified Snippets to help you navigate Medicare!
Did you know that medical and financial status may play a role in determining your best Medicare option? In addition there may be extra help and subsidies available to help!
What are some of your Medicare options?
Part A, also known as Hospital Insurance. Most pay no monthly premium for Part A.
Part B, also known as Medical (Dr. visits, outpatient services) Insurance. Medicare usually pays 80% & you pay 20%. There is a monthly premium for part B, which is currently $148.50 and a current deductible of $203.00
Medigap supplement plans can be added to help pay the out of pocket cost, your 20% coinsurance. It works with original Medicare Part A & B. Usually with an added premium.
Medicare Prescription Drug plans can be joined separately to help with medication cost. Failure to enroll in a Medicare drug coverage or Medigap supplement plan during your initial coverage eligibility period could mean lifetime penalties and paying more for this coverage later.
Another option is to bundle your Medicare through a Part C Medicare Advantage plan. Medicare Advantage plans are Medicare approved plans through private companies that must follow Medicare rules. These are all inclusive plans that bundled Part A (Hospital), Part B (Medical), and Part D (prescription drug coverage).
Deciding which option is best can be daunting!
Simplified Concierge Services offers a complimentary consult. Our reimbursement comes from Medicare or the carrier of your choice. Call us at 843 940-8744 or schedule an appt. today!