Medicare made simple

Eligibility starts at age 65, not at age 62 when you are initially eligible for Social Security benefits.

There are 4 parts to Medicare:

Part A provides hospital coverage. It is available to anyone who has worked at least 10 years in a job where Medicare taxes were paid. Spouses are also eligible. For those workers and spouses, Part A is free. In 2010 the Part a Deductible is $1100. After the Deductible, most hospital costs are paid by medicare.

Medicare Part A can be purchased for $461 per month in 2010 for those who do not qualify. They must be 65 or disabled.

Part B covers medical services including doctors visits and Out-Patient Care including Surgical Procedures.

You must pay for Part B coverage which is subsidized by the federal government.

In 2010, the basic fee is $96.40. Higher income earners pay more. Increased fees apply to higher-income seniors with annual earnings over $85,000.

Part B does not cover 20% of the cost for outpatient care. You may purchase a Medigap or Medicare Supplement plans to cover these costs. There are 12 Standardized Medicare Supplement plans in the state of CT. Part B has a $155 annual Deductible
http://www.ct.gov/cid/lib/cid/medigap.pdf
http://www.medicare.gov/Publications/Pubs/pdf/10116.pdf

Part C has Medicare Advantage Plans. These plans offer Medigap type coverage to include prescription drugs and some services not covered by medicare (preventive care, dental & vision). These plans generally have Networks of doctors and hospitals. You simply pay a copay for In-network care.

Part D includes prescription drugs plans. You pay a monthly premium for this coverage. These plans have drug lists and Three tier copays for the first $2830 of annual drug costs. Beyond that you pay 100% or the next $1720 of drug expenses up to the initial coverage limit or true out-of-pocket of $4,550 in 2010. Beyond that you pay the greater of $2.50 copay for generic and $6.30 for all other drugs or 5% coinsurance.

 

We represent the following Medicare carriers

• AARP Medicare Supplement and Part D Rx

• ConnectiCare VIP Medicare Plans

• HealthNet Medicare Advantage Plans

• Anthem Medicare Supplement and Part D Rx

• Aetna Medicare Supplements and Part D Plans

 

Medicare 2010 Premiums

Learn more about Medicare premiums for 2010.

 

Connecticut Medigap plan resources

Medicare Government Website — www.medicare.gov

Mastering the ABCDs of Medicare — PDF download

Choosing a Medigap Policy — PDF download

Sample 2008 Monthly Medicare Supplement Rates — PDF download

Medicare Election Period Booklet — PDF download

Medicare Suitability Questionnaire — PDF download