As Baby Boomers, we all know better than to see a cardiologist if we suspect we’ve broken an ankle. As Boomers, when our car won’t start, we don’t call the plumber to come take a look. Perhaps the cardiologist and the plumber have knowledge in other areas, but are they specialists we need in these situations?
Let’s face it…Medicare is confusing. Four parts, ten plans, a half a dozen enrollment periods, qualifying life events, working past age 65…throw in Health Care Reform, the bottom line here is that you need a Medicare plan advisor.
Medicare Part C (Medicare Advantage Plans)
A Medicare Advantage Plan is a type of Medicare health plan offered by a private company that contracts with Medicare to provide you with all your Part A and Part B benefits. Medicare Advantage Plans include Health Maintenance Organizations, Preferred Provider Organizations, Private Fee-for-Service Plans, Special Needs Plans, and Medicare Medical Savings Account Plans. If you're enrolled in a Medicare Advantage Plan, Medicare services are covered through the plan and aren't paid for under Original Medicare. Most Medicare Advantage Plans offer prescription drug coverage.
Medicare Part D (Prescription Drug Plan)
Part D adds prescription drug coverage to Original Medicare, some Medicare Cost Plans, some Medicare Private-Fee-for-Service Plans, and Medicare Medical Savings Account Plans. These plans are offered by insurance companies and other private companies approved by Medicare. Medicare Advantage Plans may also offer prescription drug coverage that follows the same rules as Medicare Prescription Drug Plans.