Setting Up Your Medicare
Medicare is not one size fits all, you have choices, so find what is right for you.
We can’t stress this enough. We encourage everyone that is joining Medicare to take some time to have a basic understanding of their options so the best choices can be made for them. Everyone has a different situation…please do not just listen to your neighbor or a family member on what was good for them and assume that it will be the best fit for you. When setting up your Medicare, take their advice into consideration but also talk to a professional that can help educate you about your options in a way that you understand. If you find a professional and you feel like you are being sold something…please find a new professional. A true professional will have your best interest at heart. You can always contact us for help, there is never a charge for the service and there is never an obligation on your part.
Medicare Part C - Medicare Advantage Plans
A Medicare Advantage plan is a private health plan that contracts with Medicare to manage your Medicare benefits. Medicare Advantage plans can be good value because they can offer many additional health and cost saving benefits above and beyond Original Medicare. You pay a low, or no additional monthly premium beyond the Medicare Part B premium for these plans. You never lose your Medicare, Medicare Advantage plans are just another option you have to manage your Medicare.
Medicare Part D - Prescription Drug Plans
There are two ways to get Medicare prescription drug coverage–either through adding a Medicare Prescription Drug Plan (Part D), or getting a Medicare Advantage Plan (Part C) that offers Medicare prescription drug coverage. This offers you multiple ways of managing your prescription drug coverage. No matter if you use a stand alone drug plan or combine your drug coverage with a Medicare Advantage plan, the same “rules” apply when it comes to formulary rules, step-therapy, the “donut hole” and more…
Medicare Supplements or Medigap Plans*
Medicare Supplements or “Medigap” will cover some or all of the costs that are not covered by Original Medicare…fills in the “gaps” of Original Medicare. In most states Medicare Supplement plans work the same depending on what plan you decide. Plans range from A-N and all follow the same “rules” as to what they will pay for. Some plans can offer some extra “perks” for joining their plan but the bottom line is that they all pay your bills the same. Supplements have monthly premiums that generally increase in price every year but most people do not see a medical bill or will have small copays while on a Medicare Supplement plan.
*Wisconsin plans do not follow the traditional Medigap structure; please see Wisconsin Medicare Supplements…