Are You 65 or Older and Need Health Coverage?

The A, B, C, & Ds of Medicare

Part A (Hospital Insurance): Helps cover such expenses as inpatient care in hospitals, skilled nursing facility care, hospice care, and home health care. There are various costs with Part A in the form of deductibles and co-pays. If an individual works a minimum of 10 years and pays Medicare taxes, Part A is generally no cost. For individuals that do not qualify for no cost Part A, there may be an option to purchase Part A.

Part B (Medical Insurance): Helps cover such expenses as services from doctors and other health care providers, outpatient care, durable medical equipment and preventive services. Part B has an annual deductible and also has a monthly cost. In 2023, the standard monthly cost is $164.90. Note - Medicare can impose IRMAA (Income Related Monthly Adjustment Amount) which is a higher monthly cost based on income guidelines.

Part D (Drug coverage): Helps cover expenses associated with the cost of prescription drugs. Plans that offer Medicare drug coverage are run by private insurance companies. Monthly costs vary based on the plan and insurance company chosen. Note - Medicare can impose IRMAA (Income Related Monthly Adjustment Amount) which is a higher monthly cost based on income guidelines.

Plan Choices

Medicare Supplemental Insurance (Medigap): insurance you can purchase from a private company that helps lower your share of costs for Part A and Part B services in Original Medicare. Most plans do not have a network or providers, rather they work at any provider that is contracted with and accepts Medicare. Medicare Supplement plans provide health insurance coverage but do not include coverage for Part D prescriptions. This coverage must be purchased separately.

Medicare Advantage Plan (Part C): an insurance plan that offers health, prescription drug coverage and other supplemental benefits in one plan. Supplemental benefits vary by each company but may include such things as dental, annual eye wear allowance, hearing aid co-pays and post care meals. Insurance companies offering this type of coverage are contracted with Medicare to administer services under Part A, B and D to qualified individuals. There are annual costs associated with these plans such as coinsurance, co-pays and an out-of-pocket limit. These plans have a network of providers, and if care is received outside of the network, overall costs to the insured member may increase.

Medicare Part A and Part B Enrollment Resources

Website: www.Medicare.gov
Toll Free: 1 (800) MEDICARE (1-800-633-4227)
TTY Number 1 (877) 486-2048
Contact Your Local Social Security Office

Contact the Ellingson Insurance Group Team at (507) 258-4640. Let our experience benefit you.

* Note - plan options vary by region. Depending on where you live dictates the plan types available to you. Not all plans may be offered in your area. *

We do not offer every plan available in your area. Currently we represent 6 organizations which offer 42 products in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program (SHIP) to get information on all of your options.