Medicare Insurance

If you are coming up on retirement or the big 65 you probably have questions about Medicare Insurance. In this article and throughout our website we explain the basics of Medicare and what you need/want to know about the coverage and premiums associated with this health insurance.

If you read this article and visit our website and still have specific questions about Medicare insurance give us a call or reply to the post in which you have questions. We will do our best to give you the information. If you are just in need of Medicare Supplement insurance click here for a free quote in under 2 minutes with over 25 Medigap Insurance Companies.

Medicare Insurance Consists of 4 Parts

  • Medicare Part A (Hospitalization) - this coverage is free if you or your spouse have put in the required time. There are no high income penalties with Part A coverage.
  • Medicare Part B (Medical) - this coverage is a little over $100 per month and it pays roughly 80% of your medical insurance needs (Doctor Visits, Physical Therapy, Durable Medical Equipment, Outpatient Surgeries). Medicare Part B has high income penalties which start at $88,000 for individuals and go up from their in 4 different tiers.
  • Medicare Part C (Medicare Advantage Plans) - these are plans sold by private insurance companies which take over the administration of your Medicare insurance. The private insurance company will pay your claims and typically have their own networks of doctors/hospitals which you can see for lower deductibles/co-pays. These premiums vary by plan.
  • Medicare Part D (Prescription Drugs) - these are plans sold by private insurance companies which handle your prescription coverage. Each plan varies by formularies, premiums, and co-pays so make sure to analyze your prescriptions with the plan before enrolling. Usually if you are not on any prescriptions it is safe to go with the lowest costing plan in your zip code.

Medicare Supplement Insurance Plans

These plans supplement your Medicare Insurance and basically fill in the gaps of coverage. This coverage is needed if you are not enrolling in a Medicare Advantage plan, becuase it helps keep you exposed from catastrophic accidents. The premiums are much less than most people are used to with group health insurance. Medicare Supplement Premiums will usually range from $100 -$150 a month for those turning 65. Each state is different so there may some variation in your state. CLICK HERE FOR MEDICARE SUPPLEMENT QUOTES.


Medicare Supplement Quotes

If you are interested in find out what your premiums will be for a Medicare Supplement Plan you can click on the link above and quotes will be shown like the image below based on different factors such as: age, date of birth, tobacco preference, and where you live.

 Medicare Supplement Insurance Premiums by Medicare Insurance Finders

For help learning more about Medicare and how these plans operate speak with one of our Senior Market Advisors by calling 1-877-759-5760.

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