Medicare 101

If you are 65 and up, this is the time of the year that Medicare opens enrollment for you!  But before you dive into this, it is vital that you carefully consider your needs along with your budget.  You also need to beware of scammers or people who are not qualified or experienced in this field.  That is where Citywide comes into the picture.  Trustworthy, experienced and your best interests in mind, Citywide can evaluate our needs and expectations and help you choose the Medicare program that is perfect for you.  We can answer all your questions, and we always have your best interests in mind. 

I do have to stress one thing: The clock is ticking on open enrollment. Open Enrollment ends December 7^th, so you need to act now to get things rolling .  We offer Advantage Plans, Supplements and Part D.  Don’t worry, we will explain what all these mean to you in a consultation, but I want to touch on them briefly now.   

CityWide offers Medicare plans through the Health Plan, United Healthcare, Highmark, Aetna, and Humana.  We can familiarize you with each of their plans and help you decide which company to choose. 

So now, let’s get to the basics. 

What exactly is Medicare?

Medicare is a federal health program for people who are 65 years old or older, certain younger people with disabilities, and people with end-stage renal disease (permanent kidney failure requiring dialysis or a transplant, sometimes called ESRD).

There are different parts of Medicare that help cover specific services:

• Medicare Part A is Hospital Insurance.  It covers inpatient hospital stays, care in a skilled nursing facility, hospice care and some home health care.
• Medicare Part B is Medical Insurance.  It covers certain doctors’ services, outpatient care, medical supplies, and preventative services.
• Medicare Part D is prescription drug coverage which helps cover the cost of prescription drugs, shots, or vaccines. 

Once you enroll in Medicare,  you’ll need to decide how you’ll get your coverage. There are 2 main ways: Original Medicare and Medicare Advantage.  There is also Medicare Prescription Drug coverage and Medicare Supplemental insurance coverage which helps pay some of your share of the healthcare costs that are not covered by the Medicare Plan, such as deductibles and coinsurance or copayment amounts. Some supplemental health insurance plans also cover certain hospitals or medical services not covered by Medicare.

While Medicare Parts A and B cover some health care costs, they won’t pay for everything. Medicare supplement insurance plans (also called “Medigap”) from private insurers can complement your Medicare coverage. These plans help cover some of your out-of-pocket expenses not paid by Medicare.

Standardized Medicare supplement insurance plan (Medigap) benefits are set by the federal government. That means the basic benefit structure for each plan is the same, no matter which insurance company you are with. 

Having an expert in this field is certainly to your advantage when you make your Medicare decisions.  Let all the friendly people at CITYWIDE help!  We are waiting for your call!