Medicare insurance options can be difficult to navigate and decisions regarding Medigap/Supplement Plans, Prescription Drug Plans and Medicare Advantage plans may be overwhelming, but we at First Insurance are here to help. We evaluate your specific needs with the goal of finding the perfect plan and we are here for you when you have questions.
What is Medicare? Medicare is the federal government’s health insurance program for people who are age 65 or older or under the age of 65 with certain disabilities. The different parts of Medicare help cover specific services and the program's medical coverage is made up of Parts A, B, C and D.
Part A is insurance covering most inpatient hospital care or hospitalization, skilled nursing facility care, home health care and hospice care. Most people do not pay a premium for Part A because they or a spouse already paid for it through payroll taxes.
Part B is insurance for outpatient and doctors’ services. Part B also covers some physical and occupational therapist services and some home health care. Most people pay a monthly premium for Part B.
Part C refers to Medicare Advantage plans which are offered through private health insurance companies. Part C plans may provide additional benefits beyond those covered under Medicare Parts A and B. This means you will have all Medicare Part A and B benefits and possibly Medicare Part D benefits.
Part D refers to Medicare Prescription Drug plans which are offered through private health insurance companies. Part D provides coverage for your prescription drugs. There is a monthly plan premium for this coverage.
Am I eligible? Generally, you are eligible for Medicare if you or your spouse worked for at least 10 years in Medicare-covered employment and you are 65 years or older and a citizen or permanent resident of the United States. If you are not yet 65 you may also qualify for coverage if you have a disability or End-Stage Renal Disease.
There is a seven month window around your 65th birthday when you can enroll in Medicare parts A and B. When you enroll in Medicare, you also have a guaranteed issue right to elect coverage in a supplement and prescription drug plan, no matter your health status. You may also elect to change supplemental plans at any time after age 65 as long as you pass medical underwriting. Each year during Annual Election Period (Oct 15-Dec 7) you may change prescription drug plans with no penalty or underwriting.
What does First Insurance Group offer? We offer products from many leading senior insurance carriers like AARP/United Healthcare, Aetna, Anthem, Forethought, Genworth, Gerber Life, Humana, Medical Mutual of Ohio, Medico, and United of Omaha, which means we can find you the best coverage at the most competitive price. Please contact us for more information about Medicare insurance coverage.