Are you new to Medicare? Not sure what plan to choose?
Skyline Benefit can help. We are an independent Medicare broker and advisor.
We can go over your Medicare options and help you determine the best plan for you.
There are 6 things to know about your Medicare options.
1. There are two ways to get Medicare coverage: Original Medicare (Part A and B) from the government, or a Medicare Advantage Plan (Part C) from a private insurance company.
2. Original Medicare has two parts: Part A (Hospital coverage) covers hospital stays, skilled nursing care, and more. Part B (Medical coverage) covers doctor visits, outpatient care, and more.
3. For most people, enrollment in Original Medicare is not automatic. It’s up to you to sign up.
4. You can apply for Medicare 3 months before you turn 65. It is important that you sign up on time without paying a late enrollment penalty.
5. Original Medicare doesn’t cover the cost of all medical expenses, on average 80%.
That’s why many people choose to enroll in a Medicare Advantage Plan or get additional coverage.
6. You can choose to get additional coverage by enrolling in a standalone Medicare Prescription Drug Plan (Part D) and/ or a Medicare Supplement plan (also known as Medigap) from a private insurance company.
If you have limited income and qualify for both Medicare and Medi-Cal, you can find Medicare Advantage Plans designed to fit your medical and financial needs.
Medicare Advantage Plan (Part C)
- Medicare Advantage Plan replaces Original Medicare by including Part A hospital coverage and Part B medical coverage.
- It often includes prescription drug coverage, with no added premium.
- This plan provides the convenience of dealing with just one insurer for all your claims and often includes extra benefits, like additional days in the hospital as well as dental, vision, and hearing coverage.
- It limits your financial liability by establishing annual and lifetime limits on your out-of-pocket costs.
- This plan’s local network is somewhat restricted to doctors in your local area, contracted with your plan.
Medicare Supplement (Medigap) plan
- Medicare Supplement Plan covers many of the out-of-pocket expenses that Original Medicare doesn’t cover.
- It provides flexibility to choose any Medicare-approved doctor or hospital that accepts Medicare and it travels with you nationwide (in some cases, worldwide).
- This plan provides benefits that are standardized by the government, with plan variations designed to cater to different needs and budgets.
Medicare Prescription Drug Plan (Part D)
- Medicare Prescription Drug Plan helps pay for prescription medications not covered under Original Medicare.
- This plan covers generic and brand-name drugs and it is offered by private insurance companies, with standardized benefits approved by Medicare.
- It can be available as a standalone plan to complement your existing coverage.
- If you purchase a Medicare Advantage Plan, your plan might include drug coverage without any additional premium.
Looking for an independent Medicare broker and advisor near you?
Skyline Benefit is an independent Medicare broker and advisor with the expertise in Medicare options.
Your relationship with Skyline Benefit does not end at the enrollment or sale. Instead, we will be an advocate for you in many years to come, helping you address concerns with your Medicare plan. We can help you review your healthcare coverage needs annually so that, as time goes by, you will continue to have the best Medicare option.