There’s a lot to know when it comes to Medicare. Here are 5 basic things that every Medicare beneficiary should be aware of.
- Original Medicare may cost more than you think. Parts A and B don’t cover all of your hospital bills and medical expenses. It also doesn’t include prescription drug coverage—you have to buy that separately.
- Medicare Supplement helps cover costs that Original Medicare doesn’t. Sometimes referred to as Medigap plans, Medicare Supplement doesn’t cover health benefits, but instead it covers the costs you’re responsible for with Original Medicare like copayments, coinsurance, and yearly deductibles.
- Medicare Advantage Prescription Drug (MAPD) plans include 4 different parts of Medicare coverage. Medicare Advantage with prescription drug coverage (MAPD) is the most comprehensive type of coverage and includes Original Medicare (Parts A and B), Part C, and Part D.
- You can change plans once a year. Open Enrollment for Medicare begins on October 15, 2017. Unless you have a qualifying life event, this may be your only chance to enroll in a new Medicare plan for 2018.
- You can get free help from CareZone. A licensed Medicare sales agent can review your current Medicare coverage and determine if you can save money by updating your plan for 2018.
Have other questions? Talk with a licensed Medicare sales agent today to get expert advice, and a free Medicare plan review.