Medicare is a federally funded health insurance program for individuals 65 or older. All Americans over the age of 65 may enroll in the program. Original Medicare consists of 2 parts, Part A and Part B. Part A covers hospital insurance and Part B covers some of the costs of doctorsâ€™ visits and lab tests with a small monthly premium. However, you will find that Medicare is not designed to pay all medical expenses.
Original Medicare has many gaps and Maine Medicare Supplemental Insurance can help fill those gaps. Seniors may choose to buy a Maine Medicare Supplement Insurance, or Medigap to help pay for these expenses. Medigap is sold by private insurance companies in Maine and helps to cover co-insurance, co-pays and deductibles.
Medicare Health Insurance Providers
How do I choose the Maine Medicare health plan that's right for me?
The law requires all insurance companies that sell Maine Medicare supplement plans to offer the same benefits. The main difference among insurance companies is cost. There are several points to consider when searching for the right Medicare Supplement Plan.
- Monthly premiums
- Annual deductible
- In and out of network physicians and hospitals
- In Home care
- Prescription drug coverage
- Out of pocket costs
- Are referrals needed to see a specialist?
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.
Where can I read about Maine Medicare?