Navigating the Medicare enrollment process for the first time can be a complicated undertaking. If you are newly eligible for the health insurance program or will be soon, explore your plan options carefully before signing up. There are four parts to consider, and they’re all designed to provide a different type of coverage. Below is an overview of the medical services you can expect to be covered under each plan and what to do if you need more coverage.

How Medicare Coverage Works

Original Medicare

Medicare parts A and B comprise Original Medicare. Part A is often referred to as hospital insurance, as it covers services such as in-patient hospital stays, hospice care, skilled nursing facility care, and home health services. Part B is commonly known as medical insurance. It helps to pay for services and supplies related to the diagnosis or treatment of a health condition. This includes doctor visits, laboratory tests, X-rays, ambulance services, and medical equipment.

Medicare Advantage Plan

Some people opt to get health insurance through a Medicare Advantage Plan, also known as Medicare Part C. These are plans from Medicare-approved private insurers. They provide the same coverage you would receive under parts A and B but often offer additional benefits like dental, vision, hearing, health and wellness programs, and prescription drug coverage.

Prescription Drug Plan

Medicare Part D is offered by private insurance companies and supplies coverage for prescription medications. Enrollment isn’t required, but for those who have Original Medicare, it’s generally necessary to get a standalone Part D plan. There are several plans to choose from, and they all have their own list of covered drugs. Costs vary depending on each plan’s quality rating.

Medicare Supplement (Medigap)

Since Medicare doesn’t provide benefits for all health care-related expenses, you may decide to purchase a supplemental insurance policy called a Medicare Supplement or Medigap plan. This can be acquired through a private insurer and will help pay some of the out-of-pocket costs that parts A and B don’t cover, including deductibles, copayments, and coinsurance. They may also offer coverage while traveling abroad.

By understanding the kinds of coverage available through Medicare, you can make better decisions about your health insurance. For help determining which plans will best suit your needs and budget, contact the professionals at Wade Insurance. This agency, based in West Plains, MO, has been guiding Southern Missouri and Northern Arkansas residents through the Medicare enrollment process since 1992. Count on them to provide valuable advice on maximizing coverage while minimizing out-of-pocket costs. Call (417) 256-6248 to set up an appointment or visit them online to learn more about the products they offer.