Medicare and its numerous plans can be quite confusing. Friends and online guides can be helpful but having an expert to guide you in choosing the best plans for your individual needs has its advantages and this is where Capstone Insurance can help. Medicare is confusing because there’s so much information to absorb and most of the time the important topics are not explained properly. Capstone Insurance can explain how Medicare works and all the options available to you without all the insurance jargon. Since we represent virtually every plan in Florida; you can see all your options in one appointment.
Capstone Insurance will review your plan every year to see if there are any changes and if there are any better options. Health conditions change too so a plan today may not be the best for your needs next year. Every year, we’ll review your prescriptions and doctors to find the right fit for your needs and budget.
Our services are paid directly by the insurance carriers so there’s no fee to you. And commissions are regulated by Medicare so we have no financial motive to promote one company over another. We want you to have the right coverage whether it’s a plan with a monthly premium (Medicare Supplement) or no cost plan (Medicare Advantage).
What is Medicare and how do you get it?
Medicare Parts A and B (Original Medicare) Medicare Parts A & B offered by the Federal Government
Medicare A & B cover much of your medical care but not all of it and you typically pay a deductible and coinsurance when you use it with no out-of-pocket maximum. That’s why most people either buy a Medicare supplement or go with a Medicare Advantage plan.
(Prescription Drug Plan- More Information Below)Medicare Part D offered by private insurance company.
Part D is a prescription drug plan for people with Medicare. It must offer at least the basic benefits required by Medicare.
Medicare Part C also known as Medicare Advantage is administered by a private company and available to anyone who has Medicare Part A, Part B and a permanent resident in the plan service area. It covers everything Original Medicare covers, most include prescription drug coverage (Part D) plus additional benefits like dental, vision and hearing at no additional cost.
2 Common Types of Medicare Advantage Plans:
Is Medicare Advantage still Medicare or as good as Medicare?
Medicare Advantage plans are required to cover everything Original Medicare covers, including services Medicare considers medically necessary. If you decide to enroll in a Medicare Advantage plan, you still have Medicare coverage, rights and protections; you just choose to receive your Medicare benefits through a private insurance company.
Medicare Part D is coverage for prescription drugs. You don’t automatically get this coverage when you become eligible for Medicare however a very important factor to consider when selecting a plan. To receive drug coverage, you can join a Medicare Advantage Plan that includes prescription drug coverage or purchase a standalone Prescription Drug Plan (PDP).
A formulary is a list of covered drugs by the plan and you generally pay less or nothing at all for generics.
Every Medicare Part D Prescription Drug Coverage have four payment stages and the amount you pay to fill a certain medication will depend on which payment stage you are in.