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Medicare Solutions Medicare solutions

Medicare is a Federal program available to people 65 and over, or who qualify based on certain disabilities. It is broken into two parts, Medicare Part A and Medicare Part B.

Medicare Part A

Medicare Part A covers costs associated with a hospital or skilled nursing facility. Most people will have earned this by working at least 40 quarters in their lifetime (some people with higher incomes or those who have not earned enough credits will have a premium). There is a deductible for these services which must be met before Medicare will pay their portion. The deductible for 2016 is $1,288.

Medicare Part B

Medicare Part B covers the physician's costs. There is a deductible of $166 per year and co-insurance amount of 20%. The premium for Part B can vary, based on when a person became eligible for Medicare. In 2016, the premium for Part B starts at $121.80 per month.

Additionally, there are Medicare solutions offered through private insurance companies. An independent agency like ours can objectively help you compare your options.

Medicare Part C

Medicare Part C is also known as Medicare Complete, or Medicare Advantage plans. These plans are offered and administered by private insurance companies who have been contracted by Medicare to offer such coverage. The Medicare consumer remains on Medicare A & B, but the benefits and claims are managed by the private company. Oftentimes there are additional benefits than what basic Medicare will offer, including vision benefits, and dental coverage. Many Advantage plans include Prescription Drug Coverage (see below).

Medicare Part D

Medicare Part D is the Prescription Drug Coverage benefit. These plans are offered by private insurance companies with a Medicare contract. While this coverage is optional, a penalty may be added to the insurance premium for late enrollment.

Medicare Supplement

Medicare Supplement (or Medigap) Plans help to fill the gaps in a person's Medicare benefits, such as the deductibles and co-insurance. The most comprehensive and popular option is the Plan F supplement. With a supplement plan, Medicare remains primary and the supplement plan pays second. A person cannot have both a Medicare Supplement and Medicare Advantage plan (Part C), but may have a Medicare Supplement and a Drug Plan (Part D).

There are two ways to receive Medicare benefits:

Medicare Parts A&B
Medicare Supplement
Medicare Part D
~OR~ Medicare Part C with possible drug coverage
& ancillary benefits
(you must keep Medicare Parts A&B active)

Our agency works with the majority of insurance companies offering Medicare solutions in Oregon. Allow us to educate you on how each option would work with your unique situation. There is no pressure, cost, or obligation to work with us as we help you determine the right solution for your needs, so feel free to contact us today!