If you’re looking for health insurance for your children, chances are you’ve considered medicare or a medicare supplement plan at one point or another. It can be more affordable than relying on a marketplace plan, insurance agent, or insurance company. It can also be tricky to navigate.
As you’ve likely spotted, the federal medicare program can be complicated, to say the least, and that’s without getting started on Medigap, medicare advantage, and prescription drug plans. If you’re interested in medicare or a medicare supplement policy for your kids, here’s what you need to know.
Types of Medicare
Medicare is broken down into several parts. Also, medicare isn’t one-size-fits-all. Here are the basics:
Medicare Part A. Part A is also known as hospital insurance in some circles. It provides coverage for inpatient medical expenses. Part A may determine whether or not you need a medicare supplement plan.
Medicare Part B. Medicare Part B is often referred to as medical insurance. This encompasses the services and supplies necessary to treat your unique condition. Part B is referred to as a part of Original Medicare. Unsure of what Original Medicare is? The best way to think of Original Medicare is as medicare insurance that is provided by the U.S. Government. It differs from Medicare Advantage plans and Medigap plans in several ways.
Medicare Part C. Part C is also known as the Medicare Advantage plan. It entails pieces of Part A, Part B, and often Part D. When you select Medicare Advantage, you’ll still have to enroll in Part A and Part B separately and pay the applicable monthly premium. This monthly premium will vary.
Often, Part C of your medicare plan is provided by a third-party insurer or insurance company that bundles the other parts for you and all other medicare beneficiaries in your household. This bundle is the most representative of a Medicare Advantage plan.
Medicare Part D. Part D is also known as the prescription drug plan coverage. Naturally, this refers to the coverage allowed for your medications under this medicare plan. Whether this is a stand-alone prescription drug plan or related to Medigap, your deductible and out-of-pocket costs may vary.
When it comes to your medicare contract as well as enrollment, the best place to get started is with an online quote request. Sites like www.medicare.gov often offer an online quote request and are a great way to spot a complete listing of plans. If you’re struggling to find a complete listing or compare different plans, you may want to find a listing of medicare quotes and Medigap policy information.
For a quote, you’ll likely need to enter some basic information on a contact form such as your phone number, zip code, email address, and even Social Security information. Only give Social Security information to a trusted site, especially if you need to provide your kids’ Social Security information as well. An online quote request can provide you with quick and painless medicare quotes to determine eligibility and coverage options.
You’ll also need to agree to a solicitation of insurance to state that you’re okay with being contacted by a sales agent, medicare rep, or Medigap rep for a followup phone call to discuss a comparison of medicare options and Medigap policy options. If the rep needs to verify your Social Security information, they should only need the last four of your number. The next step is to go over
An important notice: The availability of carriers may vary based on your service area which is determined by resident zip code. A licensed insurance agent can help walk you through the ins and out of your medicare quote and your health care options.
When it comes to your kids’ health care, medicare is often an excellent option that provides great benefits to policyholders. Though there are still associated costs, it’s a great way to lower expenses and ensure your children have quality coverage.