With so many different Medicare plans and options out there today, it's easy to see why many people are a bit confused these days about what kind of Medicare providers are available, and what they have to offer.
Selecting your Medicare providers will depend on several different factors, including how much coverage you need, whether or not you want coverage for prescription drugs, and how much you're willing to pay for high-quality medical coverage.
Medicare Parts A and B are overseen by CMS, or the Centers for Medicare and Medicaid Services. While Parts A and B are funded by the U.S. Government, CMS does contract private companies to assist in administration issues like claims and payment processing, call center services, and fraud investigation.
Medicare Parts A and B cover hospital insurance and medical insurance, respectively, and so most people who rely on these more basic forms of Medicare don't have much contact with outside Medicare providers.
However Medicare Part C, or Medicare Advantage plans, are provided by outside Medicare providers - private health insurance companies - who are then reimbursed by CMS for your care.
Because these plans are provided by private insurance companies it's possible to get different plans, at different costs, which will cover different things. It's good to shop around for Medicare advantage plans, but always be sure that your deductible isn't too high, and that everything you need is covered. Otherwise, you could be slapped with unexpectedly high costs after a sudden illness or accident.
And then there's also Medicare Part D, which was specifically designed to offer better coverage for prescription medications. Like Medicare Advantage, Medicare Part D is designed and administered by outside Medicare providers.
Anyone who already has Part A and Part B is eligible for Part D, and in some cases Medicare Part C (Advantage Plans), can also include prescription drug coverage. Because Part D is managed by private companies, different plans cover different medications, so once again shopping around carefully can save extra dollars, so long as you get enough coverage for the important medications you need.
The final form of Medicare coverage are Medicare supplemental health insurance plans, sometimes called Medigap plans. These plans are for individuals who feel that their Medicare plans aren't offering enough coverage to protect their health and well being. Medicare supplemental insurance then provides a safety net of sorts, where those things not covered by standard Medicare plans are now protected by the supplemental plans.
Medicare supplemental health insurance is also provided by private health insurance companies, and by combining both supplemental insurance and standard Medicare, many older Americans can rest assured that their health and well-being are protected for the future.
More Medicare Supplemental Health Insurance Resources
Medicare Part A - Medicare Part A is part of the original Medicare program that was instituted in 1965 by President Lyndon B. Johnson...
Medicare Part B - Medicare Part B is the second half of the original Medicare program approved by President Johnson in 1965...
Medicare Part C - Medicare Part C originally passed with the Balanced Budget Act of 1997, and eventually became known as the...
Medicare Part D - Medicare Part D is the newest addition to Medicare itself; Part D went into effect January 1st, 2006, and...
Medicare Coverage and Out-of-Pocket Costs - Though Medicare benefits are very helpful for millions of older Americans, neither Medicare Part A nor...
Medicare Supplemental Insurance - While Medicare Parts A and B cover a wide range of care and treatments for older Americans, some people...
Medicare Providers - With so many different Medicare plans and options out there today, it's easy to see why many people are a bit confused...
