Vermont Medicare Insurance
Original Medicare is a health insurance program for individuals 65 or older that is funded by the federal government. It is made up of Part A, which is Hospital Insurance, and Part B, which is Medical Insurance. It provides valuable coverage for your health care needs, but it may leave uninsured areas that Vermont Medicare beneficiaries may need to address.
Medicare Supplement plans, or Medigap, are health insurance plans that were designed to help fill the voids left in the Original Medicare plan. Medicare Supplement plans are sold by private insurance companies in Vermont and help to cover co-pays, deductibles, and co-insurance. Eligible Vermont residents have many options when evaluating the 12 standard Medicare Supplement plans, A through L. Some insurance companies may also offer a "high deductible option" on plans F and J. Overall, there are 48 Medicare drug plans available in Vermont.
Medicare Supplement Plans, or Medigap, Plans are standardized by Medicare but are provided by private health insurance companies. Since each plan's benefits are identical from company to company, premium comparison and special conditions are important to consider when choosing a policy that is right for you. To receive the benefits of Vermont Supplement Medicare plans, you must be eligible for Medicare and be enrolled in Medicare Part A and Part B.
Medicare Health Insurance Providers
How do I choose the Vermont Medicare health plan that's right for me?
Before you decide to buy a Vermont Medigap plan, you should determine the services you may want and need in your plan. Some options to explore include:
- Annual deductible
- Monthly premium
- Skilled Nursing Coinsurance
- Preventive services
- Medicare Part B extra charges
- Foreign Travel Emergency
- At Home Recovery
Medicare Health Insurance Plans
Medicare is classified into four different categories.
- Medicare Part A: Part A covers Hospital Insurance and gives financial assistance for inpatient care. Part A also partially covers skilled nurses, hospice, and home health care under certain conditions.
- Medicare Part B: Part B covers necessary medical services such as outpatient care and doctor services. Some preventative care is also covered to maintain your healthy status and minimize the chances that other illnesses might become more severe.
- Medicare Part C: Part C is a Medicare Advantage Plan. It combines Part A and Part B and in some instances, it also combines Part D. Medicare Part C plans are privately managed by insurance companies approved by Medicare. The plans cover necessary medical services, although, these plans have co-payments, coinsurance, and deductibles that can vary.
- Medicare Part D: Part D provides assistance covering prescription drugs. The coverage will vary depending on the plan, but it may help lower your prescription drug costs and help prevent high costs in the future.