Are you looking to lower your health care costs, but are confused about Medicare-related terminology? Here is a basic breakdown that should help you better understand.

Medicare gives health protection to citizens over the age of sixty-five, and those of all ages with specific disabilities. Medicare is structured around 3 components:

  • Original Medicare Part A Hospital Insurance. This covers hospital care, hospice, and certain home health cares but you must meet certain criteria to be able to qualify.
  • Original Medicare Part B Medical Insurance. This covers services done by a doctor, and outpatient care. Most individuals pay a monthly premium for part B medical insurance.
  • Medicare Part D – Prescription Drug Coverage. This is open to everyone with Medicare, and can help lower your monthly prescription drug expenditure by covering some of the costs.

 

Additional coverage is sought by the vast majority of Medicare eligible individuals:

  • Medicare Part C – Medicare Advantage.  Medicare Advantage Only (MA) or Medicare Advantage with Prescription Drugs (MAPD). Provides guaranteed coverage for original Medicare plus additional benefits & services.
  • Supplemental Medicare or Medigap plans. Provide additional coverage for Original Medicare A & B approved healthcare service.

 

The Unisource Medicare department helps clients enroll in Original Medicare A&B, Advantage Part C, Part D prescription drug plans and Medigap Supplement plans.   Unisource employees can help clients identify, select and enroll in suitable coverage solutions.  Open enrollment begins upon initial eligibility and annually October 15th through December 7th.

Unisource is one of the top insurance agencies in Wisconsin, and has been in the insurance industry for over 40 years. They provide all sorts of quality coverage ranging from personal, business, auto, Medicare, and life and health insurance. If you have any insurance related inquiries, don’t hesitate to contact Unisource Insurance Associates, located in Wauwatosa!

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