Medicare coverage is not just limited to Original Medicare. There are three things you need to be truly covered: Medicare Part A and Part B, Medicare Supplemental AKA Medigap, and Medicare Part D AKA Medicare prescription coverage.
Why do I need Medicare Part B?
Medicare is broken up into two parts. Hospitalization and Medical coverage. Part A only covers hospital stays, if you want basic full coverage you’ll also need Part B to cover office visits.
Things to know about Part B
- Most people pay a monthly premium for Part B
- There are penalties if you sign up late for Part B
- Part B does not cover any gaps in Part A
Should I get Medigap?
Depends. If you can afford a little extra money each month Medigap might be right for you. The reason is Original Medicare offers great basic coverage, but can leave you with a heavy financial burden if you have a major medical emergency or illness.
Things to know about Medigap
- Basic coverage covers coinsurance for hospital stays up to 365 days and hospice care, and blood transfusions.
- More comprehensive coverage covers coinsurance for skilled nursing, Part A & B deductibles, Part B excess charges, and more.
- Greatest financial protection for seniors
Do I Need Drug Coverage?
Original Medicare and Medigap plans do not include Rx coverage. So to have the best coverage you’ll want to enroll in Part D as soon as you’re eligible otherwise you can be subject to a hefty penalty.
To learn more about Medicare call the number above or click here to get an instant Medicare insurance quote.