You have many options!

Medicare is the federal health insurance program for people who are 65 or older and certain younger people with disabilities. Timing is very important when enrolling for Medicare so you don't lose out on any benefits. The original Medicare Program includes three parts:

• Part A - Hospital Insurance: Covers inpatient hospital stays, care in a skilled nursing facility, hospice care, and some home health care.
• Part B - Medical Insurance: Covers certain doctors' services, outpatient care, medical supplies, and preventive services.
• Part D - Prescription Drug Coverage (optional): Covers prescription drugs for which you pay a monthly premium.

When you’re joining Medicare timing is very important. When you turn 65 or otherwise become eligible for Medicare, enrollment windows open, but it is important to enroll during that time to ensure you don’t lose out on any benefits.

Medicare does not cover all medical expenses!

A recent study of 3,000 Medicare beneficiaries’ out-of-pocket medical spending during their last five years of life found:

• Participants spent an average of at least $38,600
• 25% of participants paid $101,800  on average
• 25% spent more than their total household assets on health care

Because of this, many people opt for additional coverage; either a Medicare Supplement Plan or Medicare Advantage Plan.

Medicare Supplement or Medicare Advantage – Which is right for me?

What you need to know about Medicare Supplement Plans:

• Helps you pay some or all medical expenses not paid by Medicare part A & B
• May help limit your annual out-of-pocket medical expenses
• You can see any doctor that accepts Medicare patients

Medicare Supplemental insurance covers certain health care costs not covered by Medicare Parts A and B; such as deductibles and coinsurance or copayment amounts. Some supplemental health insurance plans also cover certain hospital or medical services not covered by Medicare.  This can help ensure medical expenses deplete your savings.

What you need to know about Medicare Advantage Plans:

• Affordable, even $0 premium costs
• Additional benefits at no additional premium cost
• Networks of doctors and hospitals coordinate care and coverage
• Care support and other resources provide peace of mind and extra savings

Medicare Advantage plans also include your prescription drug plan.  Many plans also offer dental, vision and hearing coverage.  And some carriers even offer additional services such as fitness memberships.

Your healthcare choices are very important.  At Menath Insurance we are here to help you make the right choice for your situation.  We take the time to understand your needs and recommend a solution for your unique needs.  Contact us today for more information.