If you’re looking for Medicare supplement insurance plans in Cornelius, NC, it’s important to know that your coverage is only as good as the benefits you choose. However, most people don’t think about how their insurance plan will cover assisted living until they’re ready to enter such an arrangement. To help you understand how this type of coverage works—and whether or not it will cover assisted living near Cornelius, NC—let’s take a closer look at how these types of arrangements can affect your finances if the worst were ever to happen.
If you’re on Medicare, you know it’s a great way to get health insurance. But it may only cover some of your medical expenses. That’s where supplemental insurance comes in. Supplemental policies help pay the costs that Medicare doesn’t cover, like copayments, coinsurance, and deductibles. One type of supplemental insurance is called Medicare supplement insurance plans (“Medigap”). These plans can help with covered services like prescription drugs and doctor visits. Private insurance companies approved by Medicare sell Medigap policies. They don’t cost as much as employer group plans because they aren’t “fully funded” (employers don’t contribute to them).
Part A Is A Hospital Insurance Plan
Part A, or Hospital Insurance, covers in-patient, skilled nursing facility, and hospice care. You are eligible for Part A if you have paid into the system for at least 40 quarters (10 years). If you don’t have Part A, you can buy it through an insurance carrier.
Part B Is A Medical Insurance Plan
Part B is a medical insurance plan and covers outpatient care, certain preventative services, some lab tests, home health care, durable medical equipment, and hospice care.
Part B pays for many things necessary for you to stay healthy or recover from an illness. If you have Medicare coverage through the original plan (Parts A & B), then your outpatient costs will be covered under Part A; however, if you do not have this coverage, then your costs will be covered under Part B.
Part C, Managed Care Plans, Covers More Than Parts A And B
Part C, Medicare Advantage plans, is a private health plan that can cover more than Parts A and B. In fact, with some Part C plans, you can pay for assisted living in Cornelius, NC, with just one policy! The best thing about Part C is that it’s not just limited to nursing homes and home health care—it also covers many of the same services offered by traditional Medicare coverage.
Part C plans are based on the idea of Medicare Advantage: They provide basic hospitalization coverage as well as prescription drug benefits similar to those offered under Parts A and B. But these plans go beyond other types of supplemental insurance because they also include dental care (including vision), wellness programs such as gym memberships or massage therapy treatments (both at no cost), chiropractic care for acute issues like back pain or injuries (also without paying any coinsurance), cataract surgery when medically necessary rather than waiting until you reach age 65 before having it done under Part B, the list goes on!
If this sounds like something your loved ones might need while living in Cornelius or elsewhere in Charlotte County (NC), call today so they can get started with their new plan ASAP.
Part D Is Prescription Drug Coverage
The most common type of Medicare Advantage plan is Part D prescription drug coverage. These plans allow you to enroll in a Medicare Advantage Plan if your current health plan does not offer all the benefits that Medicare requires. If this is the case for you, consider switching from your current health insurance policy or supplementing it with a more comprehensive one.
As you can see, there are many things that you need to know about Medicare and its coverage. If you have questions or want to talk with an expert, please call us at 704.448.5760. We will be happy to answer any questions that you may have and explain how our plans work.