Page 16 - Healthcare News Senior Planning Guide 2022

Alphabet Soup:
A Medicare Primer
The Four Parts of Medicare
Presented by
Health New England
Part A
Hospital
Provides Coverage For:
Inpatient Hospital Skilled Nursing Facility Hospice
Home Health
Part B
Medical
Provides Coverage For:
Outpatient
Home Health Doctors/Providers Durable Medical Equipment Prevention
Part C
Medicare Advantage
Offered by Private Insurance:
All-in-one care alternative. Added benefits like dental, vision, and hearing.
We can help! Explore our plans today.
Part D
Prescription Drug
Provides Coverage For:
Prescription Drugs Covered Vaccines
For More Information
healthnewengland.org/medicare
MED5108-0822
How to Make Sense of All the Options Available Today
EBy Sarah Fernandes
nrollment in Medicare Advantage (also known as Medicare Part C) is growing. As of April 2022, 46% of all those eligible were enrolled in a
Medicare Advantage plan. That number is expected to grow even more after this year’s open enrollment period from Oct. 15 to Dec. 7.
This is a time of year when people can join or switch Medicare plans. They can also choose their plans when they turn 65. By 2025, more people are expected to be enrolled in Medicare Advantage than Original Medicare, according to JAMA Network.
Is Medicare Advantage Right for
Me?
Medicare choices are personal for everyone, and they depend on your lifestyle and personal health. For some, the coverage offered by original Medicare is enough, and they can cover potential out-of-pocket costs. For those who might be impacted by out-of- pocket expenditures, Medicare Advantage can be a good choice.
Health New England’s Medicare Advantage and Medicare Supplement plans are a popular option for those age 65 and older who are looking
to tailor their healthcare coverage to their personal needs. As a subsidiary of Baystate Health, Health New England has many high-quality providers in our network across Western Mass., and it has plans that cover you anywhere you travel in the U.S.
Digging Deeper
If you have decided Medicare Advantage is right for you, you have
a couple of different types of plans to choose from. HMO (Health Maintenance Organization) plans include usually include vision and hearing benefits, fitness reimbursements, and a dental allowance
In general, PPO (Preferred Provider Organization) plans and Medicare Supplement plans are about flexibility. These plans may be a better choice if you travel a lot or winter elsewhere. You will still have access to your trusted local doctors, specialists, and other healthcare providers, but have additional coverage when on the road.
Changing Needs
As we age, our health care needs change. It is important to consider changing your coverage with them. The coverage that was perfect at age 65 may not be the best choice at age 72. Take advantage of each open enrollment period to re-examine your coverage and, if it’s a better fit, switch.
Whether you’re signing up for Medicare coverage for the first time, or reconsidering your existing coverage, ask questions. Compare the coverage, premiums, and deductibles of each plan. Look
at whether your healthcare providers are part of insurers’ networks, and whether companies are connected to your local healthcare system. n
Sarah Fernandes is the Medicare Sales manager at Health New England and has been with Health New England for more than 22 years. She and her team spend countless hours educating Medicare beneficiaries in Western Mass. on their Medicare options.
“Deciding which
Medicare coverage
is right for you
comes at an exciting
time. Often, people
are finishing their
careers and looking
forward to their next chapters.”
Deciding which Medicare coverage is right for you comes at an exciting time. Often, people are finishing their careers and looking forward to their next chapters. Medicare choices can be as expansive as the possibilities before you. For more than 35 years, our local Medicare experts at Health New England have been helping Western Mass. residents make the right choice for their needs.
Medicare Alphabet Soup
Medicare can be confusing with its Parts A, B, C, D, and Medigap. Here’s a simple explanation.
Original Medicare is administered by the federal government and includes Part A (coverage for hospitalizations) and B (coverage for medically necessary and preventive services, including outpatient care, medical supplies, and preventive care). Parts C (also known as Medicare Advantage) and D (coverage for prescription drugs) are administered by private insurers such as Health New England.
Medicare Advantage (Part C) offers ‘all-in-one’ care, including everything original Medicare (Parts A and B) covers and more. Medicare Advantage adds coverage for things like vision and hearing benefits, fitness reimbursements, and dental coverage.
Another option you have is Medicare Supplement insurance, sometimes called ‘Medigap,’ from private insurers. Medicare Supplement plans help to fill
in the gaps that original Medicare leaves. With a Medicare supplement plan, you can see any provider in the U.S. and its territories that accepts original Medicare.
28 AUGUST 2022
SENIOR PLANNING GUIDE
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