Medicare Supplements
Medicare provides you with coverage for health-related expenses, but it will not cover all of your health care expenses. There are a number of “gaps” in Medicare coverage that you either pay for out-of-pocket or with private insurance. Medicare Supplement insurance coverage helps fill in some of those gaps, hence the term “Medigap.” Medicare Supplement insurance policies typically don’t have restrictive networks, so you can choose the health network, physician, and specialists that accept Medicare patients. It is important that you fully understand the coverage that you choose.
Medicare Advantage Plans
Medicare Advantage Plans (sometimes called Part C or MA Plans) are Medicare health plans offered by a private company that contracts with Medicare. Medicare Advantage Plans provide all of your Part A and Part B benefits, and also usually include Part D (drug coverage), dental, and vision. They also have out-of-pocket limits to help alleviate unexpected costs. Out-of-network coverage is available with some Advantage Plans, but it may cost you additional premium.
Medicare Prescription Drug Plans
Medicare offers prescription drug coverage to everyone with Medicare as an optional benefit. If you decide not to get Medicare drug coverage when you’re first eligible, there is a chance that you could pay a late enrollment fee if you join later. There are 2 different ways to get Medicare drug coverage:
- Medicare drug plans. These plans add drug coverage to original Medicare, some Medicare Cost Plans, some Private Fee‑for‑Service plans, and Medical Savings Account plans. You must have Medicare Part A (Hospital Insurance) and/or Medicare Part B (Medical Insurance) to join a separate Medicare drug plan.
- Medicare Advantage Plan (Part C) or other Medicare health plan with drug coverage. You get all of your Part A, Part B, and drug coverage, through these plans. Remember, you must have Part A and Part B to join a Medicare Advantage Plan, and not all of these plans offer drug coverage.
BGK Financial can help you evaluate all of these options and provide you with the solutions that you need! Your situation is unique, and you’ll likely find it very beneficial in the long run to work with an experienced professional to provide you with guidance to help make the best decisions for you and your family.
*BGK Financial is AHIP Certified, which means that we have completed the required Medicare training courses, and we understand how to provide Medicare coverage options in a way that is compliant with the Centers for Medicare & Medicaid Services (CMS).
Health Insurance for People Under the Age 65
If you’re under the age of 65, BGK Financial can help you find affordable solutions to getting quality health insurance for you and your family. With all of the changes going on in the health insurance industry, staying up to date on the best options is challenging. Healthcare insurance is complex, and we have the experience and understanding on everything you need from a comprehensive plan. We work with a number of providers that allows us to set you up with a policy that makes the most sense for you and your family. We can help with:
- – Individual Health Insurance Plans (Private Exchange)
- – Health Savings Accounts
- – Group Health Insurance Plans
- – Short Term Health Insurance
- – Ancillary Health Insurance Plans
- – Dental & Vision Plans