Medicare is a federal health insurance program for:
Original Medicare includes two parts: Part A (hospital insurance) and Part B (medical insurance). After you pay your deductible, Medicare will pay its share of the Medicare-approved amount, and you your share (coinsurance and deductibles).
Because Medicare does not cover everything, you can choose to improve your coverage with a Medicare supplement, which picks up some or all of the costs not covered by Original Medicare. Alternatively, you could choose to replace Original Medicare with a Medicare Advantage plan. A Medicare Advantage plan is issued by a private company. It usually offers some benefits not covered under Original Medicare, but also usually comes with limitations, such as limiting your choice of doctors to a specific network. You can’t have both a Medicare supplement plan and Medicare Advantage plan.
Medicare Part A covers the following types of care:
In most cases, you will not pay a premium for Part A, provided you or your spouse paid Medicare taxes for a specified amount of time. If you do not meet that minimum requirement, you may be able to purchase Part A. The cost will depend on how long you paid into Medicare.
In general, Medicare Part B covers two types of services—those that are medically necessary and those that are preventive.
Medically necessary services include:
Some of the preventive services Medicare Part B covers include:
WPS Medicare supplement plans help you cover the 20% of out-of-pocket expenses that Medicare usually leaves behind after you pay your deductible.
With WPS Medicare supplement insurance:
You can add a Medicare Part D plan, which covers prescription drugs, to Original Medicare. Your Medicare supplement plan works together with your Part D plan to help make prescription drugs more affordable. Some types of prescription drugs, such as those that treat cancer or HIV/AIDS, must be covered by all Part D plans. Plans usually cover many other types of prescription drugs, as well. You can find a complete list in the plan’s formulary.
It’s important to understand all your coverage options. Watch to learn more about the difference between Medicare supplement insurance plans and Medicare Advantage plans.
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