Medicare and You 2020 #10050
Everything you want to know
Read along, while watching the video's below
Different Parts of Medicare
Understanding your Medicare Choices
Medi Gap vs Medicare Advantage
Medicare & You
Online vs the pdf booklet
Medicare works with private insurance companies to offer you ways to get your health care coverage. These companies can choose to offer a consumer-directed Medicare Advantage Plan, called a
Medicare MSA Plan.
These plans are similar to Health Savings Account Plans available outside of Medicare. You have flexibility in choosing your health care services and providers.
Medicare MSA Plans have 2 parts
Medicare MSA Plans combine a high-deductible insurance plan with a medical savings account that you can use to pay for your health care costs.
- High-deductible health plan: The first part is a special type of high-deductible Medicare Advantage Plan (Part C). The plan will only begin to cover your costs once you meet a high yearly deductible, which varies by plan.
- Medical Savings Account (MSA): The second part is a special type of savings account. The Medicare MSA Plan deposits money into your account. You can choose to use money from this savings account to pay your health care costs before you meet the deductible.
How do MSA Plans work?
Read about basic steps for using a Medicare MSA Plan.
In addition to the Medicare services that all Medicare Advantage Plans must cover, some plans may cover extra benefits for an extra cost, like:
- Long-term care not covered by Medicare
Contact plans in your area for more information on what extra benefits they cover, if any.
Medicare MSA Plans don’t cover Medicare Part D prescription drugs
If you join a Medicare MSA Plan and need drug coverage, you’ll have to join a Medicare Prescription Drug Plan. To find available plans in your area, visit the Medicare Plan Finder, call 1-800-MEDICARE (1-800-633-4227), or look at the back of your “Medicare & You” handbook. * copied from medicare.gov *