Medicare Cost Plans.
Medicare Cost Plans are a type of Medicare health plan available in certain areas of the country. medicare plans in az
Here are important facts about Medicare Cost Plans:
- You can join anytime the plan is accepting new members.
- You can join even if you only have Part B.
- If you have Part A and Part B and go to a non-network provider, the services are covered under Original Medicare. You would pay the Part A and Part B coinsurance and deductible.
- You can leave anytime and return to Original Medicare.
- You can either get your Medicare prescription drug coverage from the plan (if offered), or you can join a Medicare Prescription Drug Plan (Part D).
Original Medicare, also known as traditional Medicare, works on a fee-for-service basis. This means that you can go to any doctor or hospital that accepts Medicare, anywhere in the United States, and Medicare will pay its share of the bill for any Medicare-covered service it covers. You pay the rest, unless you have additional insurance that covers those costs. Original Medicare provides many health care services and supplies, but it doesn’t pay all your expenses.
When you first sign up for Medicare Part A and Part B, Social Security automatically enrolls you in original Medicare. If you prefer to receive your care from a private Medicare Advantage plan, such as an HMO or PPO, instead of the original program, you must actively enroll in a plan that’s offered in your area. If you prefer to stay in original Medicare, you can get prescription drug coverage by joining a private Part D drug plan for an additional premium; and you can also choose to buy private supplemental insurance (known as Medigap) to cover some of your out-of-pocket costs in the original program.
Generally, a Medicare health plan:
- Contracts with Medicare to provide Medicare Part A (Hospital Insurance) and Medicare Part B (Medical Insurance) benefits
- Is offered by a private company
- Provides these benefits to people with Medicare who enroll in the plan
Some types of Medicare health plans that provide health care coverage aren’t Medicare Advantage Plans but are still part of Medicare. Some of these plans provide Medicare Part A (Hospital Insurance) and Medicare Part B (Medical Insurance) coverage, while most others provide only Part B coverage. Some also provide Medicare prescription drug coverage (Part D).
These plans have some of the same rules as Medicare Advantage Plans However, each type of plan has special rules and exceptions, so contact any plans you’re interested in to get more details.
Medicare Advantage plans are an alternative to Original Medicare. They are known as Medicare Part C plans. These plans are offered by private insurance companies and cover all Medicare-covered services.
Medicare Advantage plans cover Medicare Part A (hospital services) and Part B (physician services). Most Medicare Advantage plans also include Medicare Part D (prescription drug coverage). They also may pay for additional services that aren’t covered by Original Medicare.
In most Medicare Advantage plans, you can only go to doctors, specialists and hospitals on the plan’s list. Otherwise, you may pay more or you may not be covered for services at all. However, if you need urgent or emergency care, you will be covered even if you receive care outside the plan’s participating providers. Examples of Medicare Advantage plans include Health Maintenance Organizations (HMO) or Preferred Provider Organizations (PPO).