Original Medicare Health Insurance Plans
Original Medicare is the most basic form of Medicare Coverage. Original Medicare consists of 2 parts, Part A (Hospital costs) and Part B (Health related costs, I.E. -doctor visits).
If you are a U.S. Citizen or a Legal Resident (5 continuous years), Part A is provided to you for free. This information is based on izou are 65 years or older and have worked 10 years and paid into Medicare or married to someone who has. Part B is $134*. Original Medicare has out-of-pocket expenses without placing a cap on your exposure.
Medicare Supplements or Medigap plans were designed to fill the holes of original Medicare and provide you with little or no out of pocket cost.
» What does Original Medicare cost?
Original Medicare is a health insurance program provided by the Federal government. As an employee working in the United States, you’ve been contributing to the Medicare system your entire working career by way of tax deductions on your paychecks. With your contributions to the system, your Medicare Part A comes at no additional cost to you (for US citizens and permanent legal residents who are 65 years or older and have worked in the United States for 10 years, or are married to someone who has worked for 10 years). Your Medicare Part B premium costs $134 per month.
» What does Original Medicare give me?
Original Medicare only provides a basic framework for helping you cover the expenses of your medical treatment. Medicare Part A covers costs related to hospital visits and Part B helps cover other medical expenses such as doctor’s visits. There are many additional costs associated with healthcare which are not covered by Original Medicare, so it is common for individuals to also pair their Original Medicare plan with a Medicare Supplement or Medicare Advantage plan.
» How do I switch Original Medicare plans?
With Original Medicare you can fill the holes and expand your coverage with a Medicare Supplement Plan. This is the best option if you have specific doctors that you like to see without getting referrals from a Primary Care Provider. If you choose this route you will also need to enroll in a Prescription Drug Plan (PDP) as Original Medicare doesn’t cover most prescriptions. If a Medicare Supplement is something that best suits your needs it’s important that you enroll within your Guaranteed Open enrollment Period which allows you to submit an application three months before your Part B effective date to coordinate with that date and up to 6 months after the first day of the month in which you’re 65 or older and enrolled in Part B.
After this Open Enrollment Period you would need to qualify for a Special Enrollment such as leaving your employer health insurance if you wish to enroll without being subject to Medical Underwriting. On the other Hand a Medicare Advantage Plan allows you to enroll within 90 days of your initial Part B effective (IEP) date and also every Open Enrollment Period (OEP) October 15th-December 7th for the first of the following year not subject to medical underwriting. Most Medicare Advantage Plans include prescriptions- Medicare Advantage Prescription Drug Plans (MAPD) and limit your cost exposure while expanding your benefits.
» Am I eligible for Original Medicare if I’m under 65?
Generally, Original Medicare begins when you turn 65 but there are some exceptions for individuals who are younger than 65. Individuals with specific disabilities or End-Stage Renal Disease (ESRD) may be eligible to receive Original Medicare.If you’re about to turn 65 can start to prepare for receiving Original Medicare benefits. Call our offices at 1-800-356-3615 and one of our agents can help walk you through what you need to know about receiving Original Medicare.
*Can be as high as $428.60 depending on income