Updated on February 20, 2018
Tennessee, proud southern state and home of the Volunteers, is called home to several thousands of Medicare beneficiaries. If you’re one of those lucky Tennessians getting ready to join Medicare, or even if you’re already a Medicare beneficiary, keep reading! Being an expert on all things Medicare, I know that regardless of how beautiful your surroundings are, Medicare will be sure to trip up your step and send you into a whirlwind of sheer confusion. Hopefully, after reading this article, some of your woes will cease and you can begin to take control of your healthcare destiny and become friends with the national healthcare system we call Medicare.
Let’s begin with the basics, or literally, the ABC’s of Medicare. There are four parts to Medicare - parts A through D. The concept behind the Medicare program is to cover 80% of all Medicare beneficiaries doctor and hospital bills, leaving you or your insurance to cover some, if not all, of the remaining 20%. Part A of Medicare is an entitlement to Americans at age 65 who have worked at least forty quarters. There is no monthly premium and Part A’s responsibility is to cover 80% of all hospital, or outpatient costs. Part B of Medicare covers 80% of your doctor, or inpatient, coverage. You must pay a premium for Part B which bases at $99.90 per month and can be higher depending on your income. Part C is what’s referred to as Medicare Advantage and is comprised of HMOS, PPOS, and HMO-POS plans, probably very similar to what you’re used to with employer and private coverage under the age of 65. The “O” stands for organization and implies a network-based plan with low monthly premiums and copayments and deductibles as you use the plan. Part D of Medicare is your prescription drug coverage and is purchased along with a Medicare Supplement through the government for a monthly premium.
Medicare Supplement insurance, or Medigap insurance, is the most comprehensive coverage you can buy. Medicare Supplements in Tennessee, and nationwide, are made up of lettered plans A-N. Plan F is the most often purchased and most comprehensive coverage in that it covers the full remaining 20% of all hospital and doctor bills under a low monthly premium. Simply put, your only payment for hospital and doctor coverage is your monthly premium, regardless of what you have done. The most affordable and highest-rated companies for Medigap insurance are through TransAmerica insurance company and Banner Life. Here at MSME we help you find the most comprehensive plan at the most affordable price FREE of charge! Call us today at 1-800-218-7935!