Learn your Medicare options

14.09.medicareDid you know that Medicare does not cover all medical bills and services?

Our certified, experienced advisors can help you understand your Medicare options and recommend a package of options that best suits your needs and budget.

Securing affordable health insurance for seniors can be difficult.  With Medicare, Medicaid and private plans to navigate, you need as much information as possible to understand your options.

What is covered under Medicare Parts A and B, the original Medicare plans?

Medicare Part A is insurance for hospital visits.  It is subject to your payment of deductibles, coinsurance and copays, and it includes coverage for:

  • Blood
  • Home health services
  • Hospice care
  • Inpatient hospital care
  • Skilled nursing facility care

Medicare Part B is insurance to pay for care by doctors.  Every month, you must pay a Medicare Part B premium.  There’s a $151 per year deductible for 2014 and your share of copays and coinsurance. Specific benefits include:

  • Ambulance services
  • Blood
  • Clinical laboratory services
  • Limited chiropractic services
  • Diabetes services
  • Emergency room services
  • Home health services
  • Medical services
  • Mental health services
  • Occupational therapy
  • For more information on what this original Medicare does and does not cover go to www.medicare.gov.

Is it true that the original Medicare — Parts A and B — don’t cover everything?

Yes.  Original Medicare is not comprehensive and leaves many gaps such as:

  • Coverage for coinsurance and copays;
  • Prescription drugs; and
  • Services specific to chronic health conditions, such as diabetes and heart troubles.

What are your choices?

If you want to get additional protection to fill in the gaps, there are several options:

Purchase a Medicare Supplement Plan.  Medicare Supplements are plans offered by Private Insurance Carriers that help cover some or all of the deductibles, coinsurance and copays associated with original Medicare.  You pay a monthly premium.

  • VIA offers a variety of Medicare Supplement Plans from a variety of insurance carriers, contact us for a quote today.

Purchase a stand-alone Prescription Drug Plan (also known as Medicare Part D plans)

Private companies that have agreements with Medicare offer prescription drug coverage through Medicare Part D plans. Plans come with different premiums and copayments. The specific drugs covered by a particular plan may vary from year to year and will be listed on your plan’s published formulary.

You will have to pay a monthly premium for your plan. You may also be subject to copayments, coinsurance and a deductible.

If you don’t enroll in a drug plan or Medicare Advantage plan when you first become eligible, you may have to pay a late enrollment penalty.

  • VIA offers a variety of Prescription Drug Plans from a variety of insurance carriers. Contact us for a quote today.

Enroll in a Medicare Advantage Plan (also called Medicare Part C)

Medicare Advantage Plans are health plans offered by private companies that receive subsidies from the federal government to provide coverage for their members.  These private plans cover everything that the original Medicare covers, plus more, often with little to no extra premium.

Depending on the plan you choose, additional benefits may include prescription drug benefits, as well as help with copays and coinsurance, hearing and vision.

There are special Medicare Advantage Plans available:

  • Dual Eligible Special Needs Plans.  If you are dually eligible for Medicare and Medicaid, there are special plans to meet your needs.
  • Chronic Conditions Special Needs Plans.  If you have diabetes, COPD, chronic heart disease or other conditions, there are special plans available to meet your needs.
  • VIA offers a variety of plans, including Dual Eligible Special Needs and Chronic Special Needs Plans from a variety of insurance carriers.  Request a quote today.

What are your other planning needs?  Do you need peace of mind?

  • Do you need peace of mind that your final expenses will be covered when you leave this earth?  We have a variety of Final Expense plans.
  • Do you want Life Insurance but have been unable to qualify?  We carry Guaranteed Issue Life Insurance.
  • Are you concerned about paying your bills in the event of a chronic illness or extended hospital stay?  We carry a variety of indemnity policies to help you plan.
  • Are you worried about how Long-Term Care Expenses?  We can help you plan.
  • Contact us today.