Put an end to Medicare coverage confusion

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As people approach age 65, Medicare becomes a concern. There are a lot of questions. What does it cover? What doesn’t it cover? Does it cover enough? How good is my health now? How healthy will I be later? Can I afford additional coverage? What kind of additional coverage should I get?

It can be daunting. Some seniors choose to keep Original Medicare and add a Medicare supplement insurance plan to bolster that coverage. Other seniors decide to replace Original Medicare with a Medicare Advantage plan.

“WPS Health Insurance offers a variety of Medicare supplement insurance choices so our customers can get the right health coverage to fit their lifestyles,” says Thomas Spelsberg, vice president of Medicare market solutions at WPS. “Our sales team takes the time to talk through options with customers to make sure the coverage they’re looking at will meet their needs. We care about making sure people end up with the right coverage so they don’t have worries or hassles with their plan down the road.”

How does a Medicare Advantage plan work?
Medicare Advantage (MA) provides managed plans that often have low- or zero-cost premiums in addition to Medicare premiums. They include coverage equivalent to Medicare Parts A and B, and many also include prescription drug coverage. Enrollees agree to certain plan conditions, such as the use of in-network doctors, referrals, and (possibly) regionally based care. Because health care is tied to a network, if a customer moves out of the service area, that customer may lose coverage.

MA plan changes and enrollment may be limited to the initial enrollment period when turning 65 or the annual enrollment period each year. If an MA carrier does not renew its contract with Medicare, customers will have to shop around for a new plan.

How does a Medicare supplement insurance plan work?
Medicare supplement insurance plans, also called “Medigap” plans, build on traditional Medicare Part A and Part B, have a monthly premium, and provide access to any health care provider who accepts Medicare assignment, and there is no network. This means customers can keep their coverage even if they move across the country. Coverage for medications is available separately through Medicare Part D prescription drug plans.

Original Medicare with supplemental insurance is available as enrollees become eligible for Medicare Part B. Participants pay regular Medicare premiums plus a supplemental insurance premium, and they can freely visit any doctors or specialists who accept Medicare assignment. This combination of plans allows enrollees to limit their out-of-pocket costs, except for prescription drugs, which are instead covered under a Part D plan.

“I encourage anyone looking at Medicare-related coverage to talk with their insurance agent, give my team a call, or check out wpscares.com to see what our customers say,” Spelsberg says. “We also offer free Medicare Options seminars and webinars, which you can sign up for online. They’re a valuable source of information for anyone making these decisions.”

Visit wpshealth.com/medicareinfo for additional information and to sign up for a free Medicare Options presentation.

Thomas Spelsberg CmykCONTACT:
Thomas Spelsberg
Vice President, Medicare Market Solutions
WPS Health Insurance