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With all the different parts of Medicare, it can be confusing to differentiate the coverage offered by each plan.
At John Kyle Insurance, you will gain a better understanding of your Medicare needs after learning more about Original Medicare, Medicare Advantage Plans, Prescription Drug Coverage, and Medicare Supplements.
Medicare Advantage Plans, or Medicare Part C, can be used to substitute Medicare Part A and B, as well as offer prescription drug coverage.
Known as Medigap Plans, Medicare Supplement Plans fill in the “gaps” of medical costs that aren’t covered by Original Medicare, such as coinsurance, copayments, and deductibles.
The policyholder pays the insurance company a premium payment every month in return for a death benefit to be paid to the policyholder’s chosen beneficiaries in the event of their death.
Health insurance is essential to have through all walks of life. Whether it is an individual, family, or group plan, John Kyle will advise and guide you in the right direction to find the coverage you deserve.
Different types of supplemental insurance pay you a cash benefit while you’re sick or injured. Whether it’s disability or dental, explore your many options with John Kyle.
We have acquired an abundance of knowledge, and we’re eager to share this expertise with you in the form of articles and blog posts.
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We’d love to hear from you! Give us a call today to talk to a Representative and set up an appointment.
Medicare Advantage
Medicare Advantage, also known as Medicare Part C, is an alternative option for beneficiaries who prefer to receive Medicare benefits through a private insurance option. The institutions that offer the plan are contracted with The Institute of Medicare and Medicaid to ensure that policyholders still receive basic Original Medicare coverage. For some, the price of paying more per month to have Medicare Part C isn’t worth the additional benefits they receive in return, while others see it as an easy choice.
Compared to Original Medicare, Medicare Advantage has the benefit of being customizable and includes options for additional coverage that Part A and Part B don’t have. This tends to extend to services such as routine vision care, dental care, hearing aids, prescription drug plans, and fitness club memberships. Another benefit of Medicare Part C is that there is greater price flexibility since a private insurance company provides it. While you still will have to pay premiums under Medicare Part B and an additional premium for Medicare Advantage, the overall cost tends to be lower than that of Original Medicare. For some plans, Part C’s premium can be as low as $0 a month and feature a minimal cost-sharing expense.
One of the unique benefits of Medicare Advantage is that the plan manages care through networks of contracted medical facilities and healthcare providers. When enrolling, you will have the choice to either be a part of a Preferred Provider Organization (PPO) Plan or a Health Maintenance Organization (HMO) Plan. With this network component, the plan can limit the maximum out-of-pocket expense beneficiaries have to pay each year.
Even though the Medicare Advantage plan has a comprehensive list of coverages and flexible costs, there are things to keep in mind before enrolling. One of the major differences between this plan and Original Medicare is that with Medicare Part C, you may be limited in your choices of doctors and medical facilities. Under Original Medicare, you can see any healthcare professional you want as long as they expect Medicare. With Medicare Advantage, you will be limited to the provider network outlined in your healthcare plan, unless you want to pay higher fees and costs for medical services. Also, if you decide to go with the Health Maintenance Organization Plan, you will need to designate a primary care doctor who will facilitate all of your care directives.
We are not connected with or endorsed by the United States government or the federal Medicare program.
Deciding on whether or not to enroll in Original Medicare, Medicare Advantage, or both, can be tough. This is especially true for those who have never had experience with the overall Medicare plan. At John Kyle Insurance, we specialize in assisting clients with the Medicare process and will be with you every step of the way.
To get started, give us a call today at (440) 230-1223, and one of our experienced agents will set up a time to speak with you about your options.
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We are not connected with or endorsed by the United States government or the federal Medicare program.