What's the difference between Medicare Part D, Part C, and Med Supp???? Hello!
Medicare can be really confusing! Even people who work with this program every day are sometimes challenged to keep everything straight!
Medicare Part D is the latest part to be added as an "option" to Medicare beneficiaries under the Medicare Modernization Act of 2003. Those seniors who enroll in Part D select a plan that will provide coverage for costs of their prescription medications. These plans are offered by private insurance companies--and comparing plans is challenging for many folks as there is little standardiization in policy benefits between the different plans. Of course benefits and the costs of these plans vary in many ways. And there are many "quirks" to Medicare Part D--such as the fact that the drugs that a policy says it will cover at the time a senor enrolls, are not going to necessarily be covered throughout the year of coverage. The company can change the drugs covered at any time, however, a senior enrolled in a particular plan can only change plans once a year. November through December is the annual enrollment period.
Part C of Medicare was introduced in the late 1990s--then it was known as "Medcare Choice." Back in the 1990s these HMO-type plans were marketed by private insurance groups as an option to traditional Medicare in certain parts of the country--and were not widely available.
With the Medicare Modernization Act, however, the idea of seniors signing up for their health care to be provided by a "health maintenance organization" (HMO) type group has gained more acceptance. These new Medicare options are known as "Medicare Advantage" plans. Many seniors--most of them of the healthier variety---(HMOs usually don't make money for shareholders from sick and extremely ill old people)-- currently are attracted to these plans and the federal government has given significant financial incentives to the insurers offering these plans at the "front end.". As a consequence, premiums for traditional Medicare (non-HMO) are rising as the number of physicians willing to accept Medicare payments for patient services under traditional Medicare is declining nationwide.
If you are considering enrolling in a "managed care plan" you will for sure want to read the fine print. For example, if you like to travel, will this plan cover you if you become ill in another state or country? What are other advantages or disadvantages to enrolling in such a plan as to enrolling in "traditional Medicare?"
Those Medicare beneficiaries who enroll in traditional Medicare--Parts A and B--usually want to sign up for a Medicare supplement insurance policy. This insurance covers procedures that are not covered under traditional Medicare. Sorting out the best supplemental Medicare policy is easier that figuring out which Part D policy is best because there are standard benefits and definitions across all policies offered in any given state.
Unlike Medicare Part D plans, supplemental plans and options are standardized, however interpreting these benefits can still be very confusing!
If you want to talk to "real people" who will listen carefully to your questions and who aren't "selling any insurance policy or plan" I would highly recommend that you call your local Area Agency on Aging. Folks at the Area Agency on Aging can help you sort Medicare options and choices. Area Agencies on Aging are one of the best kept secrets around for older Americans and their families who are seeking information on Medicare, Medicare supplemental policies and other kinds of consumer questions. There is one where you live, since this is a national network. The staff there will visit with you and guide you to information you need to answer your question. Since they talk with seniors every day--and answer lots of questions--they will know the "scoop" on what is going on with Medicare issues where you live. They will be able to help you compare the pros and the cons of the plans you have identified as options and suggest other information to check out before you "sign on the dotted line."
You can call toll-free 1-800-677-1116 to find how to contact the Area Agency serving you. When you call your local Area Agency on Aging, ask for the staff who provide "Information and Assistance."
If you do contact your local Area Agency on Aging and like the help that they give you, let your local county officials and your folks in Congress know. Area Agencies on Aging don't have big budgets--their funding comes from the Older Americans Act--and funding for most parts of this Act has not increased significantly in about 25 years! Your voluntary financial contribution of any amount--which is not required to get the help you need to answer this question--would certainly be appreciated and would be used to help your older friends and neighbors.
Hope this helps! Best wishes and good luck |
