The deductible must be met before Medicare begins to contribute their share of the medical bills. Since it is a fee-for-service plan, each time you receive a service, you are required to pay a portion – possibly 15% or 20% depending on your policy; the same goes for when purchasing supplies, such as an inhaler or prescription glasses.
Policies to Fill in the Gaps
Being that Medicare doesn’t pay for certain services, supplies or medications, some may need an alternative. A medigap plan can be used; it is a policy sold by private insurance companies. The coverage helps the insured to pay for medical gap expenses and for health care outside of the United States. Both the original and Medigap Medicare plans can be used to pay for covered health care costs.
Plans for Prescription Drugs – Medicare Part D
This option is good for those who have an original Medicare program that doesn’t cover all of the prescription drugs they are required to take. This can also be added to
Medicare Cost Plans
Some Medicare Private Fee-for-Service Plans
Medicare Medical Savings Account Plans
Individuals choose to go with this option because they don’t have to pay as much for their prescription drugs. Once the individual is enrolled in the program, they receive a card that is used to present to the pharmacist at the time of purchase. If there are any co-payments, coinsurance and/or deductibles, they must be paid by the individual. There is extra help available for those who have limited income and resources; financial assistance is given to pay the Medicare Drug Plan expenses.
Medicare Advantage Health Plan Options
To go along with your Medicare insurance, you can choose to go with other Advantage Plans that are approved by Medicare and run by private insurance companies; by enrolling in one of them doesn’t mean you are no longer with Medicare; they coexist. Many individuals opt for these plans to get additional coverage that Medicare doesn’t provide, such as for certain drugs, eyeglasses or medical services and treatments. The costs for each plan vary, though many Medicare Advantage plans actually have no premium at all (yes, they are free).