Medicare is a federal health insurance program designed for individuals 65 and older, as well as certain younger individuals with disabilities. It helps cover hospital stays, doctor visits, preventive care, and prescription drug costs. However, with various plans, enrollment rules, copayments, deductibles, and possible penalties, navigating Medicare can be daunting. AMS makes this process easier by providing clear, straightforward guidance, helping you get the most out of your Medicare benefits while keeping your out-of-pocket expenses to a minimum

Decisions about your health are some of the most crucial you’ll ever face. For many, this means navigating difficult choices between costs and coverage. Ashok Shah and his team at SOIG are here to guide you through the details of Medicare, including your available options.

Original Medicare is composed of Part A (hospital insurance) and Part B (medical insurance). Part A covers inpatient hospital care, skilled nursing facility services, hospice care, and some home health services. Part B covers certain doctor’s services, outpatient care, medical supplies, and preventive services. If you've worked and paid Medicare taxes for at least 40 quarters (10 years), Part A is typically premium-free. Part B, however, comes with a monthly premium that varies based on income.

Medicare Advantage, also known as Part C, is an all-inclusive alternative to Original Medicare. Offered by Medicare-approved private insurers, these plans bundle Part A (hospital insurance) and Part B (medical insurance) into one plan. Unlike Original Medicare, Medicare Advantage plans often provide additional services such as dental and vision coverage, prescription drug benefits, and extras like fitness programs or grocery allowances.

Medicare Supplement Insurance (Medigap) is a private insurance plan designed to fill the gaps left by Original Medicare. While Original Medicare covers a broad range of healthcare services, Medigap helps with out-of-pocket expenses such as deductibles, copayments, and coinsurance. At AMS, we help you navigate the available Medigap options, explaining plans that may offer lower premiums but higher out-of-pocket costs for certain services.

Medicare Prescription Drug Plans, or Part D, provide comprehensive coverage to help manage the cost of medications. These plans are available through private insurers approved by Medicare and can be purchased as standalone plans or as part of a Medicare Advantage plan. Part D plans typically involve a monthly premium, an annual deductible, and copayments or coinsurance for each prescription, with costs varying based on the plan and medication tier.

Medicare Part A or a Medicare Advantage plan covers inpatient hospital stays, care in skilled nursing facilities, physical therapy, and other related services. Many individuals opt to supplement this coverage with hospital insurance to manage copayments, deductibles, and additional benefits. For longer hospital stays, a comprehensive insurance plan can significantly reduce financial stress. We’ll help you choose the right plan to ensure peace of mind. Those with Medigap usually don’t need additional hospital insurance, as these expenses are already covered.

At Select One Insurance, we offer clear and straightforward guidance on Medicare plans and other health insurance services. Whether over the phone or in person at our Schaumburg, IL  office, our team is here to help you with practical health insurance planning and comprehensive medical coverage. Call Ashok Shah (o) 847-594-0211 (c) 630-992-1734 or request a free Medicare insurance quote. You can also register for our free Medicare 101 webinar now.