Common Medicare questions

What is Medicare Part A?

Medicare Part A provides hospital coverage for free at age 65 if you get Social Security retirement benefits or if you or your spouse had Medicare-covered government employment. Medicare Part A hospital insurance covers inpatient hospital care, skilled nursing facility care, hospice care, lab tests, surgery, and home health care.

What is Medicare Part B?

Medicare Part B provides necessary services and preventive services. Medically necessary services diagnose and treat medical conditions. Preventive services help prevent illness like the flu or detect it early when treatment works best. Medicare Part B covers ambulance rides, durable medical equipment, mental health care, inpatient care, outpatient care, partial hospitalization, and limited outpatient prescription drugs.

How much does Medicare Part B cost?

Your Part B premium is automatically deducted from your Social Security payment. If you don’t get a benefit payment, you will be billed for the premium. Most people pay the standard premium, which is expected to be $158.50, in 2022. If your modified adjusted income is above a certain amount, you’ll also pay an additional charge.

What is Medicare Part D coverage?

Private insurance companies provide prescription drug coverage, which is known as Medicare Part D. You can buy Part D coverage separately or as part of a Medicare Health Plan with Drug Coverage. Medicare has approved all part D plans sold in Colorado.

What’s the difference between a Medigap policy and a Medicare Advantage Plan?

A Medigap policy supplements your Medicare benefits, while a Medicare Advantage Plan is another option to get Medicare benefits.

What is a Medigap policy?

Private companies sell Medigap or Medicare Supplement Insurance plans to fill “gaps” in Medicare coverage.

With a Medigap policy, you pay a monthly premium in addition to the Part B premium you pay Medicare. Medicare pays for most covered health care services and supplies. Medigap policies help cover additional costs like copayments and deductibles.

Some Medigap policies also cover services not covered by Medicare, like medical care if you travel outside the United States. Medigap policies typically don’t pay for long-term care, vision care, dental care, hearing aids, eyeglasses, or private-duty nursing.

What is a Medicare Advantage plan?

Medicare Advantage is an alternative way to receive Medicare benefits. Private insurance companies sell Medicare Advantage plans. These plans provide the same level of coverage that Medicare Part A and Part B provide.

Why choose a Medicare Advantage plan?

Medicare Advantage plans sometimes provide more benefits than original Medicare. Many Medicare Advantage plans pay for routine vision care, hearing aids, routine dental care, prescription drug coverage, and fitness center membership.

Does a Medicare Advantage plan cost more?

Under a Medicare Advantage plan, you continue to pay your Medicare Part B premium plus an additional premium. Your Medicare Advantage premium can be as low as zero. Some Medicare Advantage Plans also save you money on copays and limit maximum out-ofpocket expenses. Most Medicare Advantage plans combine medical and Part D prescription drug coverage.

Many plans also can include added benefits such as vision, dental, or hearing care. Medicare Advantage Plans work like HMOS or PPOS and require you to choose in-network providers. With original Medicare, you can see any doctor who accepts Medicare.

When can I enroll in a Medicare supplement plan?

Before getting supplemental insurance, you first need to have Medicare Part A and Part B coverage, which typically starts at age 65. Medigap open enrollment begs in the first month after you are 65 and officially enrolled in Medicare Part B. The enrollment period then runs for six months after that date.