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The Insider Guide To Buying Medicare Insurance

Hank Mitchell

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Published in Prepare For Medicare: The Insider S Guide To Buying Medicare Insurance

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Medicare is a health insurance program for people who are 65 or older, or who have certain disabilities. It is important to understand your Medicare options so that you can choose the plan that is right for you.

Prepare for Medicare: The Insider's Guide to Buying Medicare Insurance

by Matt Feret

4.8 out of 5

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Original Medicare and Medicare Advantage

There are two main types of Medicare: Original Medicare and Medicare Advantage.

Original Medicare is the traditional Medicare program. It is administered by the federal government and includes Part A (hospital insurance) and Part B (medical insurance). You can choose to receive your Original Medicare benefits through a fee-for-service plan or a Medicare Advantage plan.

Medicare Advantage is a type of private health insurance that is offered by Medicare-approved insurance companies. Medicare Advantage plans provide all of the benefits of Original Medicare, plus additional benefits, such as vision, dental, and hearing coverage. You must pay a monthly premium for a Medicare Advantage plan.

Choosing the Right Medicare Plan

The best Medicare plan for you will depend on your individual needs and budget. Here are some factors to consider when choosing a plan:

Your health needs
Your budget
Your preferred type of coverage
The availability of Medicare Advantage plans in your area

Understanding the Costs of Medicare

The costs of Medicare vary depending on the type of plan you choose and your individual circumstances. Here is a breakdown of the costs:

Original Medicare Part A: Most people do not pay a monthly premium for Part A. However, you may have to pay a deductible and coinsurance for hospital services.
Original Medicare Part B: The monthly premium for Part B is based on your income. You will also have to pay a deductible and coinsurance for medical services.
Medicare Advantage: The monthly premium for a Medicare Advantage plan varies depending on the plan you choose. You may also have to pay a deductible and coinsurance for services.

Getting Help With Medicare

If you need help understanding your Medicare options, you can contact the Medicare Helpline at 1-800-MEDICARE (1-800-633-4227). You can also visit the Medicare website at www.medicare.gov.

Prepare for Medicare: The Insider's Guide to Buying Medicare Insurance

by Matt Feret

4.8 out of 5