There are three ways to have coverage, which one makes sense to you depends on your situation.
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Option 1 -Original Medicare + Part D plan
This is the simplest of the three options. It consists of parts A and B of your Original Medicare with one simple addition, a prescription drug plan. Of course you must be eligible for part A and be enrolled in part B.
Option 2 -Medicare Supplement + Part D plan
This is a private insurance policy designed to cover the 20 % Medicare does not cover. There is usually a premium associated with this coverage, which can range greatly, depending on the carrier.
The trade off to paying a substantial premium is the predictability of your expenses, as there is usually no co-pays or co-insurance when you receive services. Although a deductible may apply.
Option 3 -Medicare Advantage Plans (A+B+D= Part C plans)
These are plans approved and paid by Medicare and run through a private insurance company with Medicare contract. Though your benefits are administered through a private insurance company, they will never be less than what original medicare provides.
Advantage plans are 3-in-1, they cover hospitals, doctors and prescription drugs. There are $0 premium plans available in certain areas. There are co-pays and co-insurance associated with this type of plan but you out of pocket expenses are capped.
Watch a 5-minute video on the 3 most options to cover your Medicare needs
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Call us to request more information on plans available in your area at (781)-218-2781
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