As many residents in Arizona start to retire and take advantage of their Medicare status at age 65 (or earlier in certain circumstances) it is essential to know the differences in private insurance plans that pair with your Original Medicare card and decide on prescription insurance as well. At The Southwest Financial Center LLC, we strive to assist our clients in making the best decisions when it comes to personal needs and suitability.
This is a federal type of health insurance plan designed for people who are at least 65 years old or younger than 65 with specific disabilities or have been on Social Security disability for two years. When you get your Medicare card it has Part A and Part B. But there is a lot more involved than just your red, white & blue striped card.
There are 3 basic parts of Medicare:
Coverage for hospital visits, hospice care following hospitalization and so on.
Medical coverage such as doctor visits, medical supplies, preventative treatments, outpatient services and certain drugs administered in facilities.
Prescriptions are important to almost everyone who qualifies for Medicare and timeliness to joining a plan is important or there are penalties. Prescriptions most often filled in pharmacies and by mail order & vaccines are covered in these plans.
When you are eligible for Medicare it is paramount to know about the deductibles, premiums and copays with each type of plan associated with Medicare and those that are inherent to Original Medicare itself.
To fill in the gaps of deductibles and copays, private insurance companies offer supplements and Medicare advantage plans as diverse optional strategies. These are two distinctly different plans and there are many different types of plans within each scenario. Before getting on Medicare, that is the time to speak to someone who understands all the ramifications of perhaps the most important decision you will make on how to pair other insurance with your Medicare card.