Medicare 101
Understanding Medicare can be complex—this guide breaks it down for you.
Learn More About Medicare
- Medicare Advantage (Part C) vs. Medicare Supplement (Medigap)
- What Costs Are Associated with Medicare?
- What Does Medicare Part A & B Cover?
- How Much Do I Have to Pay for Medicare Part B?
- What is Extra Help and How Can I Get More Information?
- How Does Medicare Part D Work for Prescription Medications?
- When is the Annual Enrollment Period?
- What is Final Expense Insurance?
- How Can a Hospital Indemnity Plan Help with a Medicare Advantage Plan?
- FAQ
Medicare Advantage (Part C) vs. Medicare Supplement (Medigap)
Medicare Advantage (Part C) and Medicare Supplement (Medigap) plans are two different ways to enhance Medicare coverage, but they serve different purposes. Click on a plan to learn more:
Medicare Advantage (Part C)
Medicare Supplement (Medigap)
Key Takeaways
- ✔ Medicare Advantage is an all-in-one plan with lower premiums but network restrictions and out-of-pocket costs.
- ✔ Medicare Supplement helps pay for Original Medicare’s costs, offering more freedom to choose providers but usually with a higher monthly premium.
What Costs Are Associated with Medicare?
Medicare costs vary depending on the type of coverage you have. Click on each section to learn more:
Medicare Part A (Hospital Insurance)
Medicare Part B (Medical Insurance)
Medicare Part D (Prescription Drug Plan)
Medicare Advantage (Part C)
Medicare Supplement (Medigap)
What Does Medicare Part A & B Cover?
Original Medicare consists of Part A (Hospital Insurance) and Part B (Medical Insurance), covering essential healthcare services. Click below to explore what each part includes.
Medicare Part A (Hospital Insurance)
Medicare Part B (Medical Insurance)
What Original Medicare Doesn’t Cover
How Much Do I Have to Pay for Medicare Part B?
Medicare Part B (Medical Insurance) covers outpatient and preventive services, but it comes with costs. Click below for details.
Medicare Part B (Medical Insurance) Costs
What is Extra Help and How Can I Get More Information?
Extra Help is a federal program that helps people with limited income pay for Medicare Part D (prescription drug) costs. Click below for details.
Extra Help Program Details
How Does Medicare Part D Work for Prescription Medications?
Medicare Part D helps cover prescription drug costs and is available as a standalone plan or as part of a Medicare Advantage plan. Click below for details.
Medicare Part D Overview
When is the Annual Enrollment Period?
The Medicare Annual Enrollment Period (AEP) runs from October 15 to December 7 each year.
What Can You Do During AEP?
When Do Changes Take Effect?
Special Enrollment Period (SEP)
Medicare Advantage Open Enrollment (Jan 1 – Mar 31)
5-Star Special Enrollment Period (Dec 8 – Nov 30)
Review Your Plan Options
What is Final Expense Insurance?
Final Expense Insurance is a type of life insurance policy, also referred to as "burial insurance."
What is a Final Expense Insurance Plan?
When is the best time to purchase a final expense plan?
How Can a Hospital Indemnity Plan Help with a Medicare Advantage Plan?
A hospital indemnity plan is a type of supplemental insurance that provides cash benefits when you are hospitalized. It can be a valuable addition to a Medicare Advantage (Part C) plan, which often includes out-of-pocket costs for hospital stays and other medical services.
How It Helps Cover Costs
- ✔ Pays a Lump Sum or Daily Benefit: Provides a fixed cash payment per day, week, or stay in the hospital. Payments go directly to you, not the hospital, so you can use the money for any expenses (e.g., deductibles, copays, or personal bills).
- ✔ Offsets Medicare Advantage Out-of-Pocket Costs: Many Medicare Advantage plans charge daily copays for hospital stays (e.g., $300+ per day for the first few days). A hospital indemnity plan can help cover these copays and other costs.
- ✔ Covers Additional Expenses: It can help with skilled nursing facility stays, ambulance services, or home healthcare costs. Some plans offer coverage for cancer treatments, surgeries, or critical illness expenses.
- ✔ Who Might Benefit?
- ✅ Medicare Advantage enrollees with high hospital copays
- ✅ People who want to limit out-of-pocket medical costs
- ✅ Those with chronic conditions that may lead to frequent hospital stays
- ✅ Individuals who want financial flexibility for medical and non-medical expenses
- 📞 How to Enroll: Speak with us to explore your supplemental coverage options.
Frequently Asked Questions
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