Comparing Medicare To Your Employer Plan:
What Should I Do When I’m Medicare Eligible?
We’re here to help you get started with free services offered by your employer.
We get this question a lot during health benefits enrollment season. In our 40+ years of experience with benefits programs, we’ve answered many questions about Medicare. You might be surprised to find that Medicare offers extensive coverage at an affordable rate when compared to other health insurance. You have options for how to spend your hard-earned money beyond your employer’s health plan.
What Is Allsup Benefits Coordination Service?
Medicare can be confusing, but not when Allsup Benefits Coordination (ABC) is by your side. Frequently, your employer will cover the cost of this service for you, so our service is free to you. This video introduces Allsup Benefits Coordination service and how we can help you.
Frequently Asked Questions About Medicare
When am I eligible to enroll in Medicare, and what is the enrollment period?
It's crucial to enroll during this period to avoid late enrollment penalties and gaps in coverage. The annual enrollment period runs from October 15 to December 7 each year with coverage going into effect January 1.
Watch this video to hear Allsup experts explain Medicare enrollment periods.
What are the different parts of Medicare, and what do they cover?
Part B (Medical Insurance): Covers outpatient care, doctor’s services, preventive services and some home health care. Part B usually has a monthly premium.
Part C (Medicare Advantage): A private insurance alternative to original Medicare that typically includes additional benefits like vision, dental and prescription drug coverage.
Part D (Prescription Drug Coverage): Covers the cost of prescription drugs. Offered through private insurance companies.
Watch this video to hear Allsup experts explain the parts of Medicare.
What are the two paths to Medicare after Parts A and B?
The first path is a Medigap Supplement plan, also known as Medigap, and a Part D drug plan. Medigap offers plans which typically have a little higher premium, but after you meet the Part B deductible, you have little to no out-of-pocket cost. You then pick up a Part D drug plan for your prescriptions.
The other path of Medicare is a Medicare Advantage Prescription Drug plan, also known as an MAPD. These plans are most similar to an employer plan where you may have a lower premium and then pay a co-pay or co-insurance as you use the plan. These plans have premiums that begin at as little as zero dollars; they also have drug coverage built in. Both of these paths are in addition to Medicare Parts A and B.
Watch this video to hear Allsup experts explain the paths of Medicare.
Why would I enroll in Medicare if I have other coverage available to me?
Watch this video to hear Allsup experts explain the value of Medicare.
What’s the easiest way to learn more about Medicare and my individual, unique situation?
Watch this video to hear Allsup experts explain the value of Allsup Benefits Coordination service.
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Allsup Explains The Parts of Medicare
In this video, we will discuss the parts of Medicare. There are two parts of Medicare: Medicare Part A, which is premium free if you worked and paid into FICA taxes, and Medicare Part B, which has a standard monthly premium. You may pay more if you’re a high wage earner. Medicare has 80/20 coverage, meaning Medicare pays 80% of the cost of the claim and the beneficiary is responsible for the remaining 20%.
Allsup Explains The Paths of Medicare
In this video, we will discuss the paths of Medicare. There are two different paths to Medicare after Medicare Parts A and B. These help pay for the 20% that Medicare doesn’t cover. The first path is a Medigap Supplement plan, also known as Medigap, and a Part D drug plan. Medigap offers plans which typically have a little higher premium, but after you meet the Part B deductible, you have little to no out-of-pocket cost. You then pick up a Part D drug plan for your prescriptions.
Allsup Explains The Value Of Medicare
In this video, we will speak about the value of Medicare. You might ask yourself, “Why would I enroll in Medicare if I have other coverage available to me?” Compared to employer plans, Medicare premiums can be lower, with some plans available with zero additional premium. This means after you pay your Medicare A and B premiums, you may not have any additional premium cost.