Medicare

Medicare Information

MEDICARE 101: WHAT YOU NEED TO KNOW

Medicare is broken into four main parts:

  • Part A (Hospital Coverage)
  • Part B (Medical Coverage)
  • Part C (Medical Advantage)
  • Part D (Prescription Drug Coverage)

 

Medicare Part A hospital insurance covers inpatient hospital care, skilled nursing facility, hospice, lab tests, surgery, home health care.

Medicare Part B (Medical Insurance) covers, including doctor and other health care providers’ services and outpatient care. Part B also covers durable medical equipment, home health care, and some preventive services.

Medicare Part C (or Medicare Advantage) is another way that you can get coverage, offered by Private insurance companies that Medicare contracts with to combine Parts A, B, and D together, to provide members with a Managed Care option. This usually includes prescription drug coverage (Part D).Most of these also include dental, vision, hearing and some transportation and much more. Different companies and depending on the area you live in  offer different plans to choose from.

Medicare Advantage, Part D, and Medigap are all offered by private insurance companies, which is where our experienced advisors come in. We can take all the guesswork out for you, and help you to feel confident in the decision you make to choose a plan.

What You Should Know About the Part D Penalty

Part D Penalty is calculated by multiplying 1% of the National base Part D premium times the # of months you went without drug coverage. These penalties are paid according to how long you have been without a plan and you pay this penalty plus the drug premium for the duration of your policies. This means FOREVER! Remember that even if you are of great health you still need a Drug plan to avoid paying a penalty. If you have maintained drug coverage through an employer, the penalty does not apply.

Need help with your Medicare options? Schedule an appointment below or call 423-485-3078 to talk with a Medicare specialist today!

For most people, transitioning to Medicare for the first time can seem like a very complicated process. You may wonder:

  • Will my current prescriptions be covered?
  • Will I be able to continue seeing my current doctors?
  • How can my spouse continue to receive their health coverage once I’m on Medicare?

 

These and many other questions can be answered by your experienced insurance advisor at Insurance Advisors of TN.

Why call an 800 number for something as important as your health benefits! 800 Numbers are like revolving doors, you will always get a different representative.  When you reach out to us, you’ll have a personal relationship with someone that cares.

 

Need help with your Medicare options? Call a Medicare Specialist!

Schedule an Appointment!