What Medicare Covers
Medicare covers many inpatient and outpatient services, including medical services, drugs, and medical equipment.
Medicare Part A
Medicare Part A is often called "Hospital Insurance" because it covers everything related to hospitalization, including inpatient hospital stays and skilled nursing facilities. If you have completed 40 quarters (10 years) of work and paid the respective taxes for Medicare, you are eligible for Medicare Part A without having to pay a premium!
Medicare Part B
Medicare Part B is also known as Medical Insurance. It is part of the original Medicare and covers the cost for any medical services/supplies that are needed to treat your health conditions, including doctor's services, preventative services, ambulance services, laboratory tests, imaging, and other outpatient services.
Medicare Part C
Medicare Advantage (Part C) plans in Illinois are sold by private insurance companies and replace the coverage provided by Medicare Parts A & B. Anyone who purchases a Medicare Advantage plan will not need a Medicare plan or a Medicare Supplement plan, as both will be covered by the Medicare Advantage plan.
Here are a few things to consider before making a choice between an original Medicare plan (with a Supplement plan), and a Medicare Advantage plan:
Cost: Medicare Supplement plans (Medigap) usually have a higher monthly premium than Medicare Advantage plans, but have less out of pocket expenses.
Choice: Medicare Advantage plans may sometimes not cover out-of-network care, and they may limit your choices in terms of the doctors and facilities you may visit. Original Medicare and Medicare Supplement policies will usually cover you at any doctor you decide to go to.
Travel: Medicare Advantage plans usually only operate within a certain geographic region. Thus, if you're a traveler or live within multiple locations throughout the year, it is better to go with an original Medicare plan along with a Medicare Supplement plan.
Medicare Part D
Medicare Part D is the drug coverage regulated and approved by Medicare Illinois, but offered by insurance companies. Each plan varies not only in monthly cost, but also in drug coverage. Thus, it is important not to base your enrollment on just the monthly cost of the plan. When you go with Ikhlas, we will take into consideration your monthly premium, your annual deductible (if there is one), and your annual drug cost to make sure you are getting the best overall coverage for the year.
Medicare is great! It offers a lot of health coverage with a big network of hospitals and doctors in the Illinois. However, it does not cover all your out of pocket costs, and they could add up to be quite substantial! That’s why it’s important to enroll in a Medicare Supplement Plan, also known as a Medigap Plan.
Medicare has standardized all Medigap plans (identified by the letters A through N) so that all the health insurance companies that offer those plans must offer the exact same coverage. No company can offer more or less coverage than any other company. This is important to stress: regardless of the company purchased from, the only difference between plans with the same letter is the cost!
The idea behind Medicare Supplement plans is to limit the unlimited out of pocket risk that you have with Medicare alone. Mainly, supplement plans cover the hospital charges that are not covered by Medicare, along with the 20% gap that you are required to pay for doctor visits and outpatient surgeries, which could prove quite substantial in serious operations. It is essential for seniors to be covered by a Medicare Supplement policy to protect their hard-earned money that they've been saving throughout their careers. Below you will find charts of the popular Medicare Supplement plans along with the coverage that the most popular plans cover.
Here at Senior Medicare Consultants, we do the running around of comparing the rates with many different health insurance companies and Medigap plans in Illinois to be sure we provide you with the absolute best rates for the best coverage possible! Do not hesitate to reach out to us at 855.200.6335 or to schedule a free consultation with us! We are here to answer your questions!
Ikhlas Insurance Group is a privately held corporation operating under Ikhlas Inc. Submission of your information constitutes permission for a licensed insurance agent to contact you with additional information about the cost and coverage details of health plans. Descriptions are for informational purposes only and subject to change. Insurance plans may not be available in all states. For a complete description, please call 1-855-200-6335 to determine eligibility and to request a copy of the applicable policy. We do not offer every plan in your area. Currently, we represent 8 organizations which offer 527 plan products in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program (SHIP) to get information on all of your options.