Medicare
Medicare is the federal health insurance program for people who are 65+, younger people with certain disabilities, and people with end-state renal disease (permanent kidney failure requiring dialysis or transplant). Medicare has different parts that cover specific services.
- Medicare Part A (Hospital Insurance): This covers inpatient hospital stays, care in a skilled nursing facility, hospice care, and some home health care.
- Medicare Part B (Medical Insurance): This covers certain doctors’ services, outpatient care, medical supplies, and preventative services.
- Medicare Part C (Medicare Advantage Plans): These are types of Medicare health plans that are offered by a private company contracting with Medicare to provide all part A and B benefits. This includes Health Maintenance Organizations, Preferred Provider Organizations, Private Fee-for-Service Plans, Special Needs Plans, and Medicare Medical Savings Account Plans. Most plans offer prescription drug coverage.
- Medicare Part D (Prescription Drug Coverage): This part adds prescription drug coverage to Original Medicare, some Medicare Cost Plans, Medicare Private-Fee-for-Service Plans, and Medicare Medical Savings Account Plans. Insurance companies offer these plans.
Medigap
Medigap is a Medicare supplement insurance policy that is sold through private companies that supplements Medicare by help paying for health care costs that are not covered by the original Medicare, such as copayments, coinsurance, and deductibles. Medigap covers its share after Original Medicare pays its amount.
To get Medigap, you must have Medicare parts A and B and pay a monthly premium to the private insurance company carrying your Medigap policy. Medicare Advantage Plans are not Medigap plans, and Medigap policies do not include prescription drug coverage.
How can RPS help?
Medicare planning and finding the perfect Medigap policy that is the right fit for you can be difficult. RPS is here to help you navigate the murky waters of Medicare and Medigap policies. Because our agents are certified insurance agents able to write policy with any company, we are not biased towards one company. We have your best interest at heart, and will do our best to find the best Medigap policy for you possible.