What is Medicare?
Medicare is a fee-for-service health care program for seniors, in which the government pays health care providers directly for services that fall under Parts A and B of Medicare benefits (see below). However, if you are looking for more coverage than Original Medicare, you can purchase one of our Medicare Advantage Plans to receive all your Part A and Part B benefits.
Medicare is divided into four categories. This allows you to customize your personal coverage when shopping for a comprehensive policy.
- Part A (hospital insurance): Covers hospital care, emergency services, nursing home care, home health services, and hospice.
- Part B (medical insurance): Covers medically necessary services and supplies used for diagnosing and treating medical conditions, and preventative services for illness prevention and/or early detection. Examples include ambulance services, mental health care, outpatient procedures, and clinical research.
- Part C: Combines Parts A and B and often part D as well.
- Part D: Offers prescription drug coverage.
What Medicare options are available?
Original Medicare offers coverage for services and supplies that are considered to be medically necessary, such as doctor visits, lab tests, and wheelchairs. There are several alternative plans you can choose from for additional coverage, and each plan must offer at least the same coverage as Original Medicare. There are two Medicare plans that we can assist you with.
- A Medicare Advantage Plan, also known as Part C, combines Part A and Part B as a replacement to Medicare for more comprehensive health care coverage. This plan can be customized with additional coverage, such as a prescription drug program (Part D), vision and dental.
- A Medicare Supplemental Plan, also known as Medigap, has a higher premium but supplements the coverage gaps and deductibles that Part A and Part B leave behind.
Why do you need Medicare?
Seniors are in the most need of health care, but once retired monthly premiums can become hard to maintain. Enrolling in the Medicare program allows you to get the care you need for a minimal charge.
Medicare and Group Insurance Plans
A good deal of eligible Medicare applicants are on group health insurance plans offered by their employer when they turn 65. If you are not yet retired and work for a large business with 20+ employees, your employer’s group insurance plan would pay for medical costs first, then your Medicare plan would pay afterward.
If you are 65 and receive small business health insurance from your current employer (again, if you are not yet retired), then Medicare would pay the primary costs and your group insurance would pay any secondary costs. In this situation, a small business is defined as a company with 20 or fewer employees.
Some exceptions may apply, contingent on the group health insurance plan and Medicare plan in which you are enrolled. Talk with a Medicare and small business health insurance agent at NorthStar Financial & Insurance Services, Inc for additional information regarding these policies.
Medicare Insurance Quotes
Contact NorthStar today to learn more about coverage options. We are happy to work with you to determine which Medicare options works best for you. Learn more about what your small business health insurance or other group insurance plans cover in medical costs with a Medicare plan. Contact our independent insurance agents for a free Medicare quote!
Medicare has neither reviewed nor endorsed this information.