Hello Medicare

Medicare is a federal health insurance program for people 65 and older, people with certain disabilities, and people with end-stage renal disease (ESRD). Medicare has four parts:

• Part A covers inpatient hospital stays, skilled nursing facility care, hospice care, and some home health care.
• Part B covers outpatient care, including doctor visits, lab tests, and preventive services.
• Part D covers prescription drugs.
• Part C, also known as Medicare Advantage, is a type of private health insurance plan that can cover all or some of Parts A, B, and D.

Medicare does not cover everything, so you may need to buy additional insurance to help pay for your health care costs. There are two main types of supplemental insurance for Medicare:

• Medigap: Medigap policies are sold by private insurance companies to fill in the gaps in Original Medicare. Medigap policies can help pay for things like copayments, deductibles, and coinsurance.
• Medicare Advantage: Medicare Advantage plans are offered by private insurance companies and are an alternative to Original Medicare. Medicare Advantage plans typically cover all or some of Parts A, B, and D. They may also offer additional benefits, such as vision and dental coverage.

To learn more about Medicare and your options for supplemental insurance, you can visit the Medicare website or talk to a licensed Ashford Insurance agent.

Here are some of the ways to mitigate costs associated with Medicare:

• Enroll in a Medicare Advantage plan. Medicare Advantage plans typically have lower out-of-pocket costs than Original Medicare.
• Buy a Medigap policy. Medigap policies can help pay for your copayments, deductibles, and coinsurance.
• Use a Medicare Part D plan. Medicare Part D plans help pay for prescription drugs.
• Get help paying for Medicare costs. If you have limited income and resources, you may qualify for help paying for Medicare costs through a Medicare Savings Program or Medicaid.

It is important to compare your options and choose the Medicare plan that best meets your needs and budget.