If you are approaching the age of 65, you will need to make some important decisions regarding your healthcare coverage. And while you might be eligible for multiple different types of coverage, the key is to determine which plan is right for your specific situation and healthcare needs. Whether it’s a Medicare Advantage plan, Medicare Part D, or a Medicare Supplement plan, the option you choose should be based on several factors.
Are you looking for some information about the different Medicare coverage options that are available? If so, you’ve come to the right place. This supplemental Medicare insurance provider in Munster, Indiana is going to discuss some of the key things you should know below.
Terms You Should Know
Before speaking with a supplemental Medicare insurance provider in Munster, Indiana, there are a few key health insurance terms you should be familiar with. These include:
- Premium is the amount you pay for coverage — this is often a monthly charge.
- Deductible is the amount you pay for covered treatments before receiving reimbursement from your health insurance.
- Copayment is a fixed financial amount you pay for your healthcare provider’s services or prescription medications.
- Coinsurance is the percentage of a covered service you are responsible for after your insurance covers its part. For example, if your insurance covers 70% of the bill, you must pay the remaining 30%.
- Out-of-pocket maximum is the most you will have to pay for covered services during a benefit period (generally, one year). It does not include premiums or non-covered services. However, copayments, deductibles, and coinsurance may be included.
What Medicare Options are Available?
As the premier supplemental Medicare insurance provider in Munster, Indiana, we have helped countless people find the right coverage for their needs. Here are some of the popular Medicare coverage options you may want to consider:
- Medicare Advantage Plan: These plans are sold by private companies that are approved by Medicare. They can be thought of as an alternative to Original Medicare. Sometimes called “Part C” plans, a Medicare Advantage plan provides all your Part A (hospital insurance) and Part B (medical insurance) coverage. Most of these plans include Part D (prescription drug) coverage as well.
- Medicare Part D: Also known as a Medicare prescription drug plan, this is a plan that helps cover the cost of your prescription drugs. As is the case with a Medicare Advantage plan, you must join a plan run by an insurance company or other private company approved by Medicare to get this type of coverage.
- Medicare Supplement Plan: These plans are designed to help cover costs that are not covered by Medicare, which could include deductibles, coinsurance, and copayments when visiting your doctor. To enroll in this type of coverage, you must have Medicare Part A and Part B. The best way to choose the right Medicare Supplement plan is by comparing the coverage and rates. If you would like help narrowing down your options, your local supplemental Medicare insurance provider in Munster, Indiana is the person to call.
Looking for the Best Supplemental Medicare Insurance Provider in Munster, Indiana?
If you are looking for the best supplemental Medicare insurance provider in Munster, Indiana, you’ve come to the right place. The licensed and trusted insurance agents at Senior Care Insurance Services (SCIS) can help you determine which type of coverage is best suited for your needs and financial situation. Ready to get started? Contact us today at (219) 513-9666 or fill out an online form to schedule a free consultation.