Medicare Supplements
The Medicare p
rogram helps over 43 million Americans get the health care they need. that's a good thing. Just as important, Medicare offers you choices about how you can receive benefits. At Cooper & Associates, we can help you find a solution that fits your needs, whatever they may be.
Medicare Basics
Medicare is a federal health insurance program for people who are 65 and older, people under age 65 with certain disabilities and for people of all ages with End Stage Renal Disease (ESRD). You automatically qualify for Medicare if you are 65 years old and are eligible for Social Security or Railroad retirement benefits.
Your Biggest Decision
When choosing your Medicare benefits plan, the biggest decision, and the one you make first, is whether you want Original Medicare (Part A and B) or Medicare Advantage (Part C). Each covers the same basic services, but they operate differently. Your choice depends on your priorities and preferences.
Original Medicare (Part A and Part B) is operated by the government and government subcontractors. Medicare pays fees for your care directly to the doctors and hospitals you visit. Some people call this "fee for service". You can go to any doctor or hospital that accepts Medicare. Most people get a Medicare supplement and a Medicare Part D (Prescription Drug Plan) to cover the cost not covered by original Medicare.
Medicare Advantage (Part C) is operated by private companies approved by Medicare. Medicare pays a fixed fee to the plan for your care, and then the plan handles its own payments to doctors and hospitals.These plans may cover more services and have lower out-of-pocket costs than the original Medicare plan. There may be restrictions on doctors and hospitals.
Medicare Part D is a voluntary coverage that helps with prescription drugs. the plans are provided by private insurance companies and funded in part by the government. If your Medicare Advantage plan (Part C) includes drug coverage, you do not need a Medicare Part D drug plan.
Medigap Insurance (also called Medicare Supplement) is not a part of Medicare, but designed to help reduce your medical expenses in Medicare Part A and Part B.
Confused Yet?
No worries! Cooper & Associates can help you understand all your options with each of these programs. We also offer the most competitively priced programs in the market today!
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