Finding the right Utah Medicare plan can be a daunting task. In order to make the right decision, you will need to have an idea how the parts of Medicare work for you.
Medicare has three main parts
Medicare Part A
Medicare Part A mainly covers hospitalization and inpatient services. Most Utah Medicare beneficiaries get this when they turn 65 or after they have been disabled for 2 years. For 2012, Medicare Part A will include a $1156 deductible for days 1-60, $289 per day for days 61-90 and $578 per day for days 91-150 .There are many Utah Medicare plans that will help to cover most if not all of these deductibles.
Medicare Part B
Medicare part B helps pay for doctor’s services, outpatient, and other medically necessary services that aren’t covered under Part A. There are many preventative services that are also covered. Medicare Part B typically has a monthly premium, and for most Utah Medicare beneficiaries that will be $99.90 per month for 2012. Medicare Part B has a $140.00 annual deductible. After paying your annual deductible Medicare pays 80% and you pay 20% of the costs. As with Part A, there are Utah Medicare plans that can help offset the deductibles and cost sharing.
Medicare Part D
Medicare Part D or prescription drug coverage is offered by private insurance companies and helps to offset a portion of the costs of your medications. These plans include deductibles and coverage is different from every private insurer that offers them. These plans can exist by themselves or can be included within a Medicare Advantage plan (MAPD) There are many intricacies involved with these plans, including possible broad gaps in coverage, so make sure you are careful when choosing your coverage.
You have 2 options when it comes to offsetting your basic Medicare coverage. A Medigap/ Medicare Supplement plan or a Medicare Advantage plan
A Utah Medicare Supplement policy pays after Medicare. Once Medicare pays their portion of the bill, they forward the difference to your Medicare Supplement plan. There are 10 standardized plans(A, B, C, D, F, G, K, L, M and N). A Medigap plan fills in most of the gaps that Medicare does not cover.
Utah Medicare Advantage plans or MA plans are also called Part C. These plans are funded by Medicare and work as your primary Medicare plan. Normally with a Medicare Advantage plan you will have lower premiums than Medicare Supplements but higher co-pays and deductibles. Be assured you are still part of Medicare and you still get all the same rights and protection. These plans work great for many folks because of their lower upfront costs.
There are many great Utah Medicare plans to choose from and finding the right one is important. Hopefully you have a better understanding of how they work.
Jimmy Hobson
Senior Services of Utah
www.Utahseniorservices.com
888.772.4678