Cantissimo Senior Living Blog

Cantissimo Senior Living blog - an educational resource for older adults in lifestyle, wellness, and more.

Posts about Medicare:

Getting Started With Medicare: Medicare Advantage Plans

Getting Started With Medicare: Medicare Advantage Plans

Some Medicare beneficiaries want more healthcare benefits than Original Medicare can offer, even with Medigap supplemental policies. Medicare Advantage Plans (sometimes known as Medicare Part C) fill this need by providing more benefits for beneficiaries who agree to extra costs and less flexibility.

The Medicare Advantage Alternative

Offered by private insurance companies, Medicare Advantage Plans provide Part A and Part B coverage as an alternative to Original Medicare. Medicare pays a fixed amount to these insurers for each beneficiary enrolled in their plans but requires these companies to follow specific rules. These rules allow the companies flexibility to offer more services. However, to do this, they may handle out-of-pocket costs differently and impose certain restrictions on enrollees.

Getting Started With Medicare: Medigap Plugs the Holes

Getting Started With Medicare: Medigap Plugs the Holes

Original Medicare (Part A and Part B) offers many benefits, but it has some "gaps." The most prominent gap is there is no limit on out-of-pocket expenses, which encompass deductibles, copayments, and coinsurance.

Medigap to the Rescue

One way to fill many of these gaps is through a Medicare Supplement Insurance policy (also known as Medigap) sold by private insurers. Medigap policies come in several different versions but must adhere to strict government standards. These standards allow easier comparisons between policies and protect consumers from unscrupulous insurers.

Getting Started With Medicare: How Can You Prepare?

Getting Started With Medicare: How Can You Prepare?

Most Americans reaching age 65 achieve a significant milestone: Medicare eligibility. Launched in 1965, Medicare is a national health insurance program created and administered by the U.S. government and funded primarily via payroll taxes. Prior to its inception, over half of Americans, 65 or older, had no health insurance.

The program started with coverage for hospital stays (Part A) and other medical expenses like doctor fees (Part B). These two parts, known as "Original Medicare," operate as a "fee-for-service" system where a provider (e.g., hospital or doctor) gets paid for each service delivered.