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Are you wild about Medicare? Original Medicare was created to help seniors have affordable healthcare. It was designed to cover approximately 80% of covered services. However healthcare became more complex and expensive and the 20% coinsurance became burdensome for most beneficiaries. Private insurance plans were created to manage those costs. First came Medicare Supplement, or Medigap, plans. Some people wanted a more affordable insurance program and the Advantage Plans were created. In 2003 the Part-D Prescription program was created to control drug costs.
What drives people wild are the complexities of the Medicare Program. There are separate rules for enrolling in Original Medicare, Medicare Supplement Plans, Medicare Advantage Plans and Part D Plans. Also, Medicare must be coordinated with other healthcare programs such as Medicaid, Veterans Administration, Indian Healthcare, Tricare and Cobra. A misstep has consequences.
If you’d like to learn more about how Medicare works, you can download an app or sign up for my free monthly video newsletter at: Free Medicare Educational App.
Could you use a guide through the jungles of Medicare? Visit with Larry for a free, no obligation review of your Medicare coverage requirements.
As a fully licensed and insured Medicare insurance broker, I am annually recertified by the many insurance companies I represent.