New to Medicare
At Sims Insurance Medicare Plans, we understand how important it is to ensure that you make the right coverage decision for your needs.
That’s why together, we can unravel everything from plan options to payments and all the steps in between, so you can make a more informed decision.
Medicare is a federal health insurance plan that offers various benefits. People over the age of 65 or who have disabilities or health issues can also receive healthcare coverage through Medicare.
The Original Medicare plan covers inpatient and outpatient care and comprises Part A and Part B. Original Medicare is the most common to enroll in, but you must also enroll in these parts before you can be eligible for the other parts of Medicare. Most people do not need to pay a premium for Part A since it’s covered by the Medicare taxes you’ve paid throughout your career, but you do need to pay for Part B.
Part C includes Medicare Advantage Plans that offer additional coverage through private healthcare providers. They coordinate with your Original Medicare plan to offer more benefits and decrease out-of-pocket costs. Some Advantage Plans also provide benefits such as hearing, dental, and vision.
Part D plans cover pretty much all kinds of prescription drugs and can be used in combination with Original Medicare or Part C. You’ll need to pay a premium for it, but the amount for your prescriptions will ultimately depend on which tier it falls in. The lower the tier, the lower the cost.
Medicare Supplements are known as Medigap and comprise ten separate plans that each offer various benefits at different prices. You can add these to Original Medicare. Medigap plans cover costs that Original Medicare doesn’t cover such as copayments, deductibles and coinsurance.
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How Do You Know If You’re Eligible For Medicare?
You’re eligible for Medicare if you meet any one of the following requirements:
- You’re 65 years old or older
- You have Lou Gehrig’s Disease or ALS
- You have End-Stage Renal Disease that requires you to get dialysis for treatments or a kidney transplant
- You’ve received disability benefits for at least two years.
Remember to apply during one of the various enrollment periods, especially during the Initial Enrollment Period, so you can avoid late enrollment penalties.
Medicare In A Nutshell
Here are a few easy pointers that will help you get started:
- You can choose which Medicare Advantage, Medigap, and Part D provider you want to go with and find the price best for you
- Medicare can be primary or secondary to your employer insurance
- You can pay for Medicare through yearly deductibles, monthly premiums, and coinsurance or copayments
- You may be automatically enrolled in Original Medicare if you qualify for it; you may also receive premium-free Part A
Sims Insurance Medicare Plans Will Help You Get Started
It can be a long winded process to look for a Medicare provider that offers you the coverage you need at a price you can afford, but Sims Insurance Medicare Plans will help you understand everything you need to know about Medicare.
To learn more, contact us today by giving us a call at (541) 915-0939.