medicare: more than health insurance

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WHAT EXACLTY IS MEDICARE?

Medicare is a Federal health insurance program available to people who are 65 or older, younger people with disabilities and individual with end stage renal failure.

MEDICARE'S THREE PARTS AND WHAT THEY DO

Medicare is made of three parts, each designed to assist the recipient with different areas of their health care. First, Part A. Part A, also known as hospital insurance, covers inpatient hospital stays, care in a skilled nursing facility, hospice care and some home health care. Part B however, covers the costs incurred from Doctors' services, outpatient care, medical supplies and preventative services. Lastly, there is Part D which helps cover the cost of prescription drugs and some vaccines.

SO WHATS DIFFERENT ABOUT MEDICARE ADVANTAGE?

 Medicare Advantage is an “all in one” alternative to Original Medicare. These “bundled” plans include Part A, Part B and usually Part D. Most plans offer extra benefits that Original Medicare doesn’t cover — like vision, hearing, dental, and more. 

Medicare Advantage Plans have yearly contracts with Medicare and must follow Medicare’s coverage rules. The plan must notify you about any changes before the start of the next enrollment year.

DOES PICKING THE RIGHT PLAN REALLY MATTER?

Whether you and your agent decide to go with a traditional Medicare supplement or a Medicare Advantage plan, it's important to understand why your choice matters. 

Picking the right plan is about more than copays, deductibles and premiums, although to many those matter a lot! Remember that retirement is about preserving your hard earned dollars, and costly and unexpected medical bills can present a real hurdle.

 In some cases too the plan you pick could have an impact on both who and where your medical care is provided. And don't forget the extra benefits that some plans offer, such as vision insurance which helps pay for your eyeglasses and exams, dental care assistance or even free memberships to gyms and health clubs.  

WE'RE HERE TO HELP 

The reality is that selecting the right Medicare plan can be a confusing choice to make. With plans' costs, benefits and networks seemingly changing daily, Smith Insurance agents are here to help. Our team of licensed agents are aware of the latest changes and options to our clients, and we help them make smart and educated decisions that protect both their health, and their retirement savings.