Evaluating Medicare Plans
Advantage Plans
DMV Senior Benefits offers advantage plans, which provide comprehensive health coverage through private insurance companies. These plans are designed to offer the same level of benefits as Original Medicare, but some plans may include additional coverage, such as dental, vision, hearing, and prescription benefits.
Advantage plans are tailored to provide broader coverage options, giving you flexibility and extra benefits to meet your specific needs. To learn more about how these plans can fit into your healthcare coverage, explore the detailed overview below or follow the link for additional information.
Prescription Coverage Options
Prescription coverage is an essential aspect of your overall health plan and shouldn’t be overlooked. It plays a significant role in managing health care costs related to medications. Deciding on the right prescription coverage can be complex, with various plans, coverage options, and out-of-pocket costs to consider.
You have two main options for prescription drug plans:
- Standalone Prescription Coverage: If you have a basic insurance plan, you can opt for a standalone prescription plan to help manage your medication costs.
- Comprehensive Coverage Plans: If you’re enrolled in a more extensive health plan, you can select one that includes prescription coverage, offering more convenience and broader coverage.
Supplement Plans
DMV Senior Benefits offers Supplement Plans (also known as Medigap) which are designed to work alongside your Original Medicare. These plans help cover the out-of-pocket costs that Original Medicare doesn’t fully cover. While not a comprehensive plan on its own, a Supplement plan can significantly reduce your out-of-pocket costs and provide additional financial protection.
What to Know About Supplement Plans
Who sells Supplement Plans?
This standardization makes it easier to compare plans, as all plans with the same letter designation offer the same core benefits. The primary difference you’ll encounter is the price set by different insurance companies, so you can choose the plan that best fits your budget without worrying about variations in coverage.
What are the types of Supplement plans?
However, it’s important to note that Plans F and C are not available to new Medicare beneficiaries who became eligible on or after January 1, 2020. Additionally, states like Massachusetts, Minnesota, and Wisconsin have their own unique Medigap plans that differ from the federal standard.
What do Supplement plans cover?
Key Coverage:
Hospital & Medical Care: Covers expenses that exceed what your primary insurance covers for hospital stays and medical care.
Doctor Visits & Outpatient Care: Helps cover the costs for outpatient services and specialist visits.
Excess Charges: Covers any additional charges by healthcare providers that exceed the standard rates.
Blood Transfusions: Helps cover the first 3 pints of blood needed for transfusions.
Emergency Care: Some plans offer emergency medical care when traveling outside your primary coverage area.
What do Supplement plans cost?
Insurance Company: Premiums differ between insurers for the same plan.
Pricing Methods:
- Community-rated: Everyone pays the same premium
- Issue-age-rated: Premiums are based on the age when you first sign up.
- Attained-age-rated: Premiums increase with age.
Your location can impact the cost due to local regulations and healthcare costs.
As well, some insurers offer discounts based on factors like marital status, non-smoking, or annual premium payments.
