What is Medicare Part A? Medicare Part A is designed to help cover inpatient care in hospitals, including inpatient rehabilitation facilities and critical access hospitals. In addition, Medicare Part A covers inpatient stays in skilled nursing facilities (excluding custodial and long term care).

Should I Purchase Medicare Supplement Insurance? While original Medicare Part A provides great coverage for inpatient care, you may be responsible for unlimited healthcare costs if you do not purchase a Medicare Supplement policy. A Medicare Supplement Plan will lower your out of pocket costs by covering the gaps between what Medicare pays and what inpatient medical services actually cost, including the Medicare Part A deductible and the 20% co-insurance Medicare does not pay. We recommend that everyone enroll in a Medicare Supplement Plan to protect their financial future and avoid extremely high hospital bills.

What is Medicare Part B? Medicare part B covers medical services that Part A does not cover. This includes, but is not limited to medically necessary services such as physician services, outpatient care, and some preventive services. While original Medicare Part B provides great coverage, you may have to pay for expensive healthcare costs if you do not purchase a Medigap Plan. The out of pocket expense you will be responsible for is the "gap" between what Medicare pays and what the medical services actually cost.

How to enroll in Medicare Part B: You can enroll in Medicare Part B by calling or visiting your local Social Security office, or by calling the Social Security Department at (800) 772-1213.

Should You Purchase Medicare Supplement Insurance? A good Medicare Supplement Plan will cover your Part B deductible and the 20% co-insurance that Medicare does not pay, which means you will have no out of pocket expenses for physician services. We recommend everyone purchase a Medicare Supplemental Insurance policy to avoid expensive medical bills.

What are Medicare Advantage Plans? Medicare Advantage Plans are health plan options offered by private companies and are approved by Medicare. They provide coverage for all of your Medicare Part A and Part B benefits. In addition, most provide prescription drug coverage and some offer additional benefits such as vision, hearing, and dental.

Should I purchase a Medicare Advantage Plan? You may be persuaded to purchase a Medicare Advantage plan because of the low cost and promise of extra benefits. However, folks who participate in these plans are not always better off financially. The out of pocket costs you will be required to pay when enrolled in a Medicare Advantage plan will depend on your individual medical needs and the type of plan you choose. Even with the additional benefits you could end up paying more. Many Medicare Advantage plans have daily hospital co-payments, daily co-payments for in-home care, and daily co-payments or multiple days in a skilled nursing facility. These costs can be significant and would be covered if you purchase the appropriate Medicare Supplement plan.

How much will I have to pay? While the monthly premium for a Medicare Advantage Plan can be $0, many folks will have greater out of pocket costs if they purchase a Medicare Advantage plan than if they purchase a Medicare Supplement Plan, especially those who have inpatient and post-acute medical needs. We understand out of pocket costs consume a large portion of income for many seniors, which is why we work hard to make sure you purchase a Medicare Plan that meets your specific needs.