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Medicare 2014 “In A Nutshell” (Parts A, B & Medigap Plans) Original Medicare is a government health insurance program primarily for people age 65 and older. It has four main parts: A, B, C & D. The chart below is an example of how Parts A & B work together with a traditional Medicare supplement also known as a "Medigap Plan." Medicare Part A HOSPITAL INSURANCE
Medicare Part B MEDICAL INSURANCE
Supplemental Policy Plans A - N MEDIGAP
Generally no cost
For most people the monthly cost is: $104.90.
Premium varies by company, State, & other factors.
Program has a $1,216 deductible per benefit period.
$147 annual deductible.
These plans generally pay the A & B deductibles and other eligible costs that are not paid by Medicare.
It is possible to pay $1,216 several times a year. Plan covers: inpatient hospital care, home health care services, hospice inpatient skilled nursing & more. Providers are paid by Medicare assignment. No out-of-pocket maximum. Limited coverage outside the USA. Many people choose to add a Medigap or Advantage Plan.
80/20 after deductible. Plan covers: health care providers, ambulance, emergency department, outpatient surgical services, & more. Strong preventive care benefits. Many Doctors accept Medicare patients. No out-of-pocket maximum. Many people add a Medigap plan, Part D or an Advantage Plan to fill the "gaps" in the coverage.
When this plan coordinates with Medicare many benefits are covered 100%. These plans coordinate with any hospital or provider that accepts Medicare. Plans are available though insurance companies. People can add a Part D plan to cover prescription drugs. Must have Part A & B to enroll.
For more information visit www.medicare.gov or call 1-800-MEDICARE Editor's Note: This article was written by Craig N. Anderson, President of Anderson Benefits, Inc. located in Salt Lake City, Utah. To contact call: 877-363-9575 or craig@andersonbenefits.com 50 • Please mention the Seniors Blue Book when you call our advertisers.