Colorado Medicare Plans
Whether you're a Colorado resident who is new to Medicare or you’ve been enrolled for a while, you may be wondering how the program works in your state and what your options are. In general, Medicare in Colorado works in the same way as it does in the rest of the country.
Most people first become eligible for Medicare when they turn 65, unless they qualify for Medicare by disability or by having certain conditions, such as end-stage renal disease or amyotrophic lateral sclerosis (also known as Lou Gehrig's disease). Original Medicare is the federally administered program, which comes in two parts: Medicare Part A (hospital insurance) and Part B (medical insurance). Original Medicare doesn't cover most prescription drugs (Medicare Part D), so you can enroll in a stand-alone Medicare Prescription Drug Plan if you want this coverage. In addition, you may choose to enroll in a Medicare Supplement (Medigap) plan that works alongside your Original Medicare coverage.
Another option Colorado beneficiaries may have is Medicare Part C. This is an alternative to Original Medicare that is available through Medicare Advantage plans, which are offered through private insurance companies that contract with Medicare. Medicare Advantage plans must cover at least the same level of Medicare Part A and Part B benefits as Original Medicare. Plans may also include benefits that go beyond what Original Medicare covers, such as routine vision and dental, hearing, or prescription drugs. Unlike Original Medicare, if you decide you want prescription drug coverage, you can get these benefits through your Medicare Advantage plan, instead of enrolling in a stand-alone plan. These plans are known as Medicare Advantage Prescription Drug plans.
If you opt to get your coverage through a Medicare Advantage plan, you're still enrolled in the Medicare program, but your benefits will be administered through the Medicare Advantage plan, not the federal program.
To help residents understand the different Medicare coverage options in Colorado, the state has established a number of agencies and organizations. These offices provide information, education, and guidance to Medicare beneficiaries, both those who are newly eligible and those who have been with the program for some time.
Supplemental Medigap Plans can be a very important decision when it comes to saving money with Medicare. Original Medicare Part A and B only cover up to %80 of your medical costs in most cases. Supplemental Medigap Plans focus on the out of pocket expenses not covered in Original Medicare.
The good thing is that by law all Medigap Plans off the same coverage no matter what company you go to. So finding the right Medicare Supplement Plan is as simple as shopping and comparing your options.
What is Medigap in Colorado?
Senior Supplemental Insurance helps fill in the financial gaps where Medicare leaves off.In most cases Medicare pays about eighty percent of your medical expenses leaving you a gap, a MEDIGAP. A Medigap Plan focuses on out of pocket exspenses such as copayments, coinsurance, and deductibles of Medicare Part A and B! Medicare has several parts for coverage. Part A, Part B, Part C, And Part D. and the Medigap Plans. Once an individual turns 65 they may qualify for certain Medicare benefits and services. Medigap Insurance can start as soon as Part B coverage is in place. Medicare Part A helps cover against catastrophic events, in patient care in hospital, skilled nursing facility, hospice, and home health care. An average knee replacement, hip replacement or heart attack can cost you forty thousand dollars or more, in most cases leaving you with eight thousand dollars or more to pay.
Top Medigap Policies can help cover that risk for you. Medicare Part B helps cover doctors, and other health care provider services, hospital out patient care, durable medical equipment, and home health care. Also many preventive services to help maintain your health, and keep certain illnesses from getting worse. Part D medicare helps lower and cover your drug prescription costs. Lets not forget about Part C. Part C OR Medicare advantage health plan options run by medicare approved, private insurance companies, offer benefits and services covered in Part A, Part B, and usually Part D. Some of these ADVANTAGE plans may offer extra benefits for extra costs. And may offer maximum coverage with no need for additional supplement. But for those that do, get Maximum coverage with Medigap. Feel free to pause the video to view some basic Medigap plans in Colorado.
Hashtags: #ColoradoMedigapsupplement, #ColoradoMedicaid, #ColoradoHealth, #ColoradoSenior, #ColoradoSeniorsupplement, #MedigapplansinColorado, #MedicareplansinColorado, #MedicareCO, #MedigapCO, #MedicaidCO, #SeniorSupplementalInsuranceColorado