Do you know which Medicare Plan you need?
If Medicare plans and information are making your head spin, you’re not alone. It’s hard to make sense of all the options offered by Medicare, but our team at Norgard Insurance Group is here to help you choose the right Medicare coverage that makes sense.
BENEFITS OF WORKING WITH US
We Make Medicare Enrollment Easy
The Medicare application can be complicated and overwhelming. Let us take the stress out of enrollment.
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We know that choosing your own doctors and hospitals is important. Have peace of mind knowing you’re in charge.
Our dedicated team is responsive to your needs and available to provide support and answers quickly.
What is Medicare and Who Qualifies?
It can be confusing to try to understand exactly what Medicare is, who it benefits, and what the coverage includes. We’re here to help break it all down. Let’s take a look at everything you need to know about Medicare.
What is Medicare?
Medicare is a health insurance program run by the federal government. It is funded partly by Social Security and Medicare taxes that everyone pays with their income taxes. People who receive Medicare also pay premiums that support the program, and the rest is funded by the federal government budget.
Who Qualifies for Medicare?
Medicare availability extends to individuals who are 65 years old or older. It also covers individuals of any age who suffer from End-Stage Renal Disease (ESRD), which is kidney failure that requires specific care, including dialysis or a kidney transplant. Medicare also serves as limited-term coverage for people on Social Security Disability Insurance.
What Does Medicare Cover?
Like most insurance programs, there are different Medicare plans and different items covered with Medicare. Some of your coverage will depend on where you live and some on the type of Medicare plan you sign up for or qualify for. There are five different Medicare plans available, depending on your needs and qualifications.
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Will Medicare cover all of your needs?
Medicare Part A
This plan covers inpatient hospital and nursing facility stays, home health or nursing care, and hospice care.
Medicare Part B
This is standard health insurance coverage, which covers doctors visits, outpatient services, medical equipment, home health care, and some preventative services.
Medicare Part C
This plan is supplemental Medicare insurance offered through private Medicare-approved insurance providers.
Medicare Part D
Medicare Part D is optional and provides prescription drug coverage for outpatient prescription drugs only.
UNDERSTANDING MEDICARE COVERAGE
Medicare Part A Covers Inpatient Hospitalization
- Acute Care Hospitals
- Critical Access Hospitals
- Inpatient Rehab Facilities
- Long-term Care Hospitals
- Care as Part of Clinical Research
- Skilled Nursing Facilities
- Mental Health Facilities
- Psychiatric Hospitals
- Hospice Care Facilities
What Does Medicare Part B Cover?
- Medically Necessary Services
- Preventive Services
- Clinical Research
- Ambulance Services
- Durable Medical Equipment
- Inpatient Psychiatric Services
- Outpatient Psychiatric Services
- Occupational Therapy
- Partial Hospitalization
- Limited Prescription Drugs
- Home Health Care
- Annual Wellness Visit
- Blood Work & Lab Tests
- Colonoscopies & Screenings
- Various Cancer Screenings
What is Medicare Part C?
MEDICARE PART D
Will it cover your prescriptions?
How to Enroll in Medicare?
Signing up for Medicare might seem complicated, but it is actually much easier, in most cases, than signing up for standard insurance policies. The team at Norgard Insurance Group is here to help with your Medicare enrollment.
Nothing is free, and that includes Medicare
Here is a high-level overview of the costs associated with Medicare Part A, specifically for Hospital Stays and Skilled Nursing.
- $0 for the first 60 days
- $352/day for days 61-90
- $704/day after 90 days
- Maximum of 60 days over your lifetime.
- $0 for the first 20 days
- $176/day for days 21-100
- You’re responsible for all costs after day 100 of each benefit period.
UNDERSTANDING MEDICARE PREMIUMS
Costs Associated with Various Plans
Medicare Part A
If you paid Social Security and Medicare taxes for ten years, you will receive premium-free Medicare Part A coverage. If you do not qualify for premium-free coverage, expect monthly premiums from $252 to $458/month.
Medicare Part B
Most people pay a standard amount for their Medicare Part B premiums depending on income. The average standard part B premium you can expect to pay in 2020 is $144.60.
There are deductibles associated with certain healthcare and medical expenses for both Medicare Part A and B. For example, the deductible for hospital stays is $1,408 per period. The annual deductible for Part B is $198.
Get Help Choosing the Right Medicare Plan
If your head is spinning from all of this plan information, you’re not alone. It can be daunting to try to manage the information and make the right choices for yourself and your spouse or family member. The team at Norgard Insurance Group is available to answer all of your questions regarding Medicare plans, Medicare enrollment, and more.
EASY MEDICARE ENROLLMENT
Contact us for guidance when it's time for you to start thinking about Medicare.
Norgard Insurance Group has extensive experience with all aspects of Medicare coverage, including enrollment, and we can help.