Original Medicare is a government-funded health insurance program for individuals 65 or older or people with disabilities. It consists of two parts; Part A (Hospital Insurance) and Part B (Medical Insurance). Although it provides valuable coverage to Washington Medicare beneficiaries, it only provides basic coverage and has many gaps. There are a couple options you may choose from to help fill in these gaps: Washington Medicare Supplement plans, and Washington Medicare Advantage plans.
Medicare Supplement plans, or Medigap, are health insurance plans that were designed to help cover services that Original Medicare does not cover. These plans are sold by Washington private insurance companies but are standardized by Medicare. Supplemental Medicare insurance plans helps make health care more affordable for Medicare beneficiaries in Washington. Medicare Advantage plans help to cover Part A, Part B, and Part D (prescription drug coverage). Like Medicare Supplement plans, Medicare Advantage plans are sold by private health insurance companies in Washington. The advantage they have over Medicare Supplement plans is that they include prescription drug coverage.
Medicare Health Insurance Providers
How do I choose the Washington Medicare health plan that's right for me?
There are many things to consider when purchasing a Washington Medicare health plan. You must know and consider your options and evaluate the benefits that best fit your health care needs. Some things to consider when researching a Washington Medicare health plan include:
- Monthly Premiums
- Annual Deductible
- Out of pocket maximum
- Lifetime Maximum Coverage
- Prescription drug benefits
- In and out-of-network physicians and hospitals
- In Home Recovery
Medicare Health Insurance Plans
Medicare is classified into four different categories.
- Medicare Part A: Part A covers Hospital Insurance and gives financial assistance for inpatient care. Part A also partially covers skilled nurses, hospice, and home health care under certain conditions.
- Medicare Part B: Part B covers necessary medical services such as outpatient care and doctor services. Some preventative care is also covered to maintain your healthy status and minimize the chances that other illnesses might become more severe.
- Medicare Part C: Part C is a Medicare Advantage Plan. It combines Part A and Part B and in some instances, it also combines Part D. Medicare Part C plans are privately managed by insurance companies approved by Medicare. The plans cover necessary medical services, although, these plans have co-payments, coinsurance, and deductibles that can vary.
- Medicare Part D: Part D provides assistance covering prescription drugs. The coverage will vary depending on the plan, but it may help lower your prescription drug costs and help prevent high costs in the future.