Understanding Medicare Insurance Options

What is Medicare?

Medicare is a federal health insurance program designed to provide healthcare coverage to individuals 65 years or older, certain younger people with disabilities, and those with End-Stage Renal Disease (ESRD). The program was established in 1965 as part of President Lyndon B. Johnson's Great Society initiative.

In this blog post, we will explore the different types of Medicare insurance options available to you, including Original Medicare, Medicare Advantage, and Medicare Supplement Insurance.

Medicare Advantage Plans: What You Need to Know

Medicare Advantage plans are an alternative to Original Medicare. These plans are offered by private insurance companies and provide additional benefits beyond what is covered under Original Medicare.

Some Medicare Advantage plans also offer prescription drug coverage, which can be a significant cost savings for those who require ongoing medication.

Medicare Supplement Insurance: Filling Gaps in Coverage

Medicare Supplement Insurance, also known as Medigap, is designed to fill gaps in Original Medicare coverage. These policies can help pay for out-of-pocket expenses such as copays, coinsurance, and deductibles.

It's essential to note that Medicare Supplement Insurance does not provide prescription drug coverage; however, you may be able to purchase a separate policy for this purpose.