Medicare open enrollment is here! Here are 2 options you can choose from to get Medicare coverage:
Option 1: Original Medicare
Original Medicare is managed by the federal government. It includes both Part A (Hospital Insurance) and Part B (Medical Insurance). You can see any doctor, hospital, or other facility that is and does accept Medicare and in most cases you don’t need a referrals to see a specialist. Prescription drugs are not covered in this plan but you can add drug coverage by joining a Medicare Prescription Drug plan (Part D). For Part B covered services, you usually pay 20% of the Medicare approved amount after you meet your deductible. There is no yearly limit for what you pay out-of-pocket. Original Medicare generally is not covered outside the U.S
Option 2: Medicare Advantage
Medicare Advantage is another way to get your Medicare coverage. Medicare Advantage Plans are offered by Medicare-approved private companies. It includes both Part A (Hospital Insurance) and Part B (Medical Insurance) and often includes prescription drugs. With this plan you my always get extra benefits that Original Medicare doesn’t cover-like vision, hearing, or dental. In most cases, you’ll need to use health care providers who participate in the plan’s network and you’ll need to get a referral to see a specialist. Out-of-pocket costs may vary some plans have low to no out-of-pocket costs. This plan has a yearly limit on what you pay out-of-pocket for Medicare Part A & B covered services. Once you reach your plan’s limit, you’ll pay nothing for Part A & B covered services for the rest of the year. Medicare Advantage generally does not cover care outside the U.S
It’s important that you consider all of your options when choosing a plan. Applying for health insurance can be overwhelming. Cosmo Insurance Agency makes it EASY! Call today to speak with a health insurance representative.
Cosmo Insurance Agency is an independent insurance agency serving surrounding communities in New Jersey. Cosmo keeps its promise to assure an efficient and creative approach to the services we offer. Each of our clients experience a personalized and long-term relationship with us. Our New Jersey based team of health brokers guides our clients in helping them choose the most cost-effective options. By incorporating the latest in technology-based tools and laws on healthcare, employee benefits, life insurance and finance, we keep our clients up-to-date with the plans that encompass all of their needs, whether it is individual or group insurance.
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