If you are getting close to age 65, then you may want to consider your continued health insurance coverage through Medicare. Medicare doesn’t pay for all medical expenses. It is important to review the basic Medicare benefits, especially when you are about to make your health plan decisions. As your Reno Medicare experts, we can explain the ins and outs when enrolling.
To start, Medicare has 4 main categories of coverage: Parts A, B, C, and D.
Part A
Covers hospital services, home healthcare, skilled nursing care and hospice care.
Part B
Covers the doctor’s office, hospital outpatient services, durable medical equipment, lab tests, x rays, mental health and some drugs administered in a hospital setting.
Part C
Combines Part “A”, Part “B”, and usually Part “D” of Medicare, and is usually referred to as a Medicare Advantage Plan.
There are two different types of additional coverage that you can choose from. Both types will help you pay for the additional costs that Medicare alone may not cover. The two main types of continued coverage are Nevada Medicare Supplement plans, and Nevada Medicare Advantage plans.
There is no requirement to purchase either one of these two main types of plans. However, Medicare parts A and B alone leave tremendous gaps in coverage. Both the Medicare Supplement and the Medicare Advantage plans help cover some or all of the additional costs left by Medicare.
Supplement Plans
Advantage Plans
- Monthly premiums typically range from $130 to $150 for a 65 year old non-smoker.
- Covers the remainder of the bill after Medicare, while leaving you with no out of pocket expense (on plan F)
- Requires medical questionnaire UNLESS you're - 1. turning 65 - 2. leaving a medicare advantage plan in your first year or - 3. leaving a group plan (other exceptions apply)
- You can purchase it at any time, not just October 15th through December 7th)
- You can visit any doctor or hospital who accepts patients over 65 years old and as a result, there is no restriction on your doctors list.
Nevada Medicare Advantage plans have premiums as low as $0! Many also include prescription benefits with their medical plan.
- In exchange for the low premiums, many plans limit the doctors who are covered.
- Includes a maximum out-of-pocket. This limits the amount you pay annually for doctors and hospitals.
- Very low co-pays are offered for most routine medical services
- All rates are the same per zip code, regardless of age or sex
- Need to be in a Special Enrollment Period or Annual Enrollment Period (Oct 15 - Dec 7th) to start coverage.
- Guaranteed issue, you can't be denied or rated up based on your health (excluding End Stage Kidney Disease