Medicare Health Insurance is for:
- People age 65 or older
- People under 65 with certain disabilities, including End Stage Renal Disease.
You have two Medicare insurance coverage choices
1. Original Medicare
Optional Prescription Drug Coverage
Medicare Part D is a prescription drug option run by private insurance companies approved by and under contract with Medicare to help cover the cost of prescription drugs.
It may help lower your prescription drug costs and help protect against higher costs in the future.
The amount you must pay before any coverage pays.
An amount you may be required to pay as your share of the cost for services after you pay any deductibles.
Coinsurance is usually a percentage (for example, 20%).
An amount you may be required to pay as your share of the cost for a medical service or supply.
A copayment is usually a set amount, for example, you might pay $10 or $20 for a doctor’s visit or prescription drug.
A Medicare supplement insurance policy, also known as a Medigap policy, helps pay your share (coinsurance, copayments or deductibles) of the costs of Medicare-covered services. Some Medicare supplement policies cover certain costs not covered by Original Medicare Parts A and B.
Medicare supplement insurance companies can only sell you a standardized Medicare supplement policy identified by letters A through N. Each standardized Medicare supplement insurance policy must offer the same basic benefits, no matter which insurance company sells it. Cost and customer service are usually the only difference between Medicare supplement policies sold by different insurance companies.
You can apply for a Medicare supplement insurance policy just about any time you’re eligible for Medicare and enrolled in Medicare part B, including when: