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Reform Insurance offers Medicare Supplement (Medigap) coverage, a specialized insurance designed to assist in covering expenses that Original Medicare doesn't fully handle. This includes copayments, coinsurance, and deductibles.
For individuals enrolled in Original Medicare and owning a Medigap policy, Medicare covers its portion of the Medicare-approved expenses, while the Medigap policy steps in to cover its share.
It's important to note that Medigap policies are distinct from Medicare Advantage Plans. While Medigap complements Original Medicare benefits, Medicare Advantage Plans are an alternative way to receive Medicare benefits.
Key points regarding Medigap policies:
All information is derived from reputable sources, including government health insurance resources.
Medicare MSA Plans merge a high-deductible insurance plan with a medical savings account, allowing you to manage healthcare expenses. These plans consist of two components:
High-Deductible Health Plan: This is a specialized type of Medicare Advantage Plan (Part C) that only kicks in to cover costs after a high yearly deductible is met. The deductible amount varies depending on the specific plan.
Medical Savings Account (MSA): The second part involves a unique savings account. The Medicare MSA Plan deposits funds into this account, which you can utilize to cover healthcare expenses before meeting the deductible.
How MSA Plans Function: Understanding the basic steps of using a Medicare MSA Plan is essential.
Coverage: Medicare MSA plans encompass the standard Medicare services mandated for all Medicare Advantage Plans. Additionally, some MSA plans might offer supplemental benefits for an added fee. These may include:
We can assist in identifying plans that align with your requirements and determining if these supplementary benefits suit your needs.
Note: Medicare MSA Plans do not include coverage for Medicare Part D prescription drugs. If you enroll in an MSA Plan and require drug coverage, joining a Medicare Prescription Drug Plan is necessary. Reach out to us for guidance in finding a Medicare Part D prescription drug plan.
This information is sourced from www.medicare.gov.
Medicare serves as health insurance for:
Medicare comprises:
Part A Hospital Insurance, often without a premium as it’s funded through prior payroll taxes. This segment aids in covering hospital inpatient care, skilled nursing facilities (excluding long-term care), hospice care, and certain home health care, subject to specific eligibility criteria.
Part B Medical Insurance, typically requiring a monthly premium. Part B covers outpatient care, doctors’ services, and some medical services not included in Part A, like services offered by physical and occupational therapists, as well as certain home health care services. It assists in payments for medically necessary services and supplies.
Prescription Drug Coverage, involving a monthly premium for most beneficiaries. Introduced on January 1, 2006, this coverage is open to all Medicare recipients. Its aim is to reduce prescription drug expenses and guard against potential future cost increases. This coverage is managed by private companies, allowing beneficiaries to select a drug plan suitable for their needs. Delaying enrollment could lead to penalties when opting to join at a later stage.
This information is sourced from www.cms.gov. For further assistance or guidance, contacting the provided phone number will direct you to a licensed agent.
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