Healthcare can be incredibly expensive, especially for those who are later in life and may be dealing with more health concerns. Medicare can help cover some of these medical expenses. But Medicare doesn’t cover everything—so you may need Medicare supplemental insurance coverage (Medigap) to help cover what Medicare doesn’t. Finding the right Medicare and Medigap plans can be complicated, but we can help.

What is Medicare?

Medicare is part of the Social Security Act, which Congress passed in 1965. Medicare helps individuals over 65 (and some younger individuals with special circumstances) pay for healthcare services. It’s subsidized by the U.S. government, and the various parts of Medicare are referred to as Part A, B, C, and D.

Medicare Part A & Part B

Medicare Part A and Part B are the core of Medicare. These two parts offer basic Medicare coverage, but each offers coverage for different services. Part A is concerned with healthcare expenses related to inpatient care and hospital visits. Part B covers outpatient care, such as an office visit with your general practitioner.

Medicare Part C

Part C plans are also known as Medicare Advantage plans. Though these plans are referred to as “Medicare” they are not purchased through the U.S. government, like Part A and Part B. Instead, these plans are purchased through a private insurer. These plans must offer coverage equal to that provided by Medicare Part A and Part B.

Medicare Part D

One major health expense that other parts of Medicare may not cover is prescriptions. This is where Medicare Part D comes in. Medicare Part D is supplemental coverage that helps cover the cost of prescriptions that Medicare Part A and B don’t cover.

What is Medigap?

Since Medicare doesn’t cover all medical expenses, most Medicare recipients choose to have some form of additional coverage. Medigap (also known as Medicare supplemental insurance) is health insurance coverage specifically designed to cover what Medicare does not. There are a number of Medigap plans available, with varying benefits and coverages.

Let’s Make a Plan

Understanding the many options for covering healthcare expenses can be complicated. The right plan for you depends on many factors involving both your health and financial circumstances. We can help you find the best Medicare and Medigap plan options for your unique situation.