Bedford Texas Medicare Advantage

Medicare is a federal health insurance program for people who are 65 or older, certain younger people with disabilities, and people with End-Stage Renal Disease (ESRD). There are four parts to Medicare:

• Part A: Hospital insurance.
• Part B: Medical insurance.
• Part C: Medicare Advantage plans.
• Part D: Prescription drug coverage.

Part A

Part A helps cover inpatient care in hospitals, skilled nursing facilities, hospice care, and some home health care. You do not pay a premium for Part A if you or your spouse paid Medicare taxes for at least 40 quarters (10 years). If you did not pay Medicare taxes for at least 40 quarters, you may be able to buy Part A coverage.

Part B

Part B helps cover doctor visits, outpatient care, medical supplies, and preventive services. You pay a monthly premium for Part B. In 2023, the standard premium is $164.90.

Part C

Medicare Advantage plans are private health insurance plans that offer all of your Part A and Part B benefits, plus some additional benefits. Medicare Advantage plans may include prescription drug coverage, vision coverage, and dental coverage. You may have to pay a monthly premium for a Medicare Advantage plan, but your out-of-pocket costs may be lower than if you had Original Medicare.

Part D

Part D helps cover the cost of prescription drugs. You pay a monthly premium for Part D, and you also have to pay a copayment or coinsurance for each prescription drug you fill.

Part D Information

There are many different Part D plans available, so it is important to compare plans and choose one that meets your needs and budget. When comparing plans, you should consider the following factors:

• Monthly premium: The monthly premium is the amount you pay each month for Part D coverage.
• Out-of-pocket costs: The out-of-pocket costs are the amount you have to pay for prescription drugs before your plan starts paying.
• Drug formulary: The drug formulary is a list of the prescription drugs that are covered by the plan.
• Prescription drug coverage: The prescription drug coverage is the amount of the cost of prescription drugs that the plan will pay.

How to Choose the Right Medicare Plan

Choosing the right Medicare plan can be a daunting task. There are many different factors to consider, and it is important to make sure that you choose a plan that meets your needs and budget. Here are a few tips for choosing the right Medicare plan:

• Start by understanding your needs: What are your health care needs? What prescription drugs do you take? Do you have any other health insurance?
• Compare plans: There are many different Medicare plans available, so it is important to compare plans and choose one that meets your needs and budget. You can use the Medicare Plan Finder to compare plans.
• Talk to an Insurance Agent: An Insurance Agent can help you understand your options and choose the right plan for you. You can find an Insurance Agent by calling us at 817-952-3153.

Choosing the right Medicare plan is an important decision. By following these tips, you can make sure that you choose a plan that meets your needs and budget.

Whether an “all-in-one” Medicare Advantage plan or a standalone Part D plan suits you, Ashford Insurance can help. Get a quote for prescription drug plans online now at no cost to you. Or, let one of our licensed agents review your options and find the best drug insurance plan for your unique needs. Just give us a call today at 817-952-3153.