Medicare Insurance for Seniors

Medicare is a federal health insurance program available to person 65 years of age or older. Medicare is also available to persons under age 65 years old with certain disabilities and people with end-stage renal disease.

Important Things to Know About Original Medicare

If you have Medicare Part A, you get all the Part A-covered services; if you have Medicare Part B, you get all the Part B-covered services. You'll usually pay a monthly premium for Medicare Part B. You can go to any doctor or provider that accepts Medicare and is accepting new Medicare patients, or to any hospital or other facility. Your Medicare plan will have deductible that you will have to pay before Medicare begins paying for health care expenses.

Original Medicare provides very basic coverage for medical expenses, so you are still responsible for costs such as deductibles and coinsurance. However, there are two additional Medicare options available help you cover the cost of these expenses. Your first option is Medicare Advantage plans. These plans are an alternative to Original Medicare. Medicare Advantage plans will offer extra benefits that Original Medicare and most Medicare Supplement plans will not. Most Medicare Advantage plans include prescription drug coverage that is equal to or better than Medicare's standard.

Your second option is a Medicare Supplement plan. These plans also referred to as Medigap policies, can be purchased in addition to Original Medicare. Medicare Supplement plans are designed to pay some of the costs that Medicare does not cover for example (i.e. deductibles and coinsurance). While these plans do not include prescription drug coverage, you can purchase a separate Medicare prescription drug plan.