Medicare is a federal, fee-for-service health insurance program primarily for seniors aged 65 or older. This is sometimes referred to as Original Medicare, which has two parts: Part A and Part B.

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Part A 

Helps pay for hospital stays, emergency room services, hospice, and nursing home care.

 

Part B 

Helps pay for doctors’ fees, outpatient treatments and services, including vaccinations, tests, mental health services, outpatient operations, durable medical equipment, and most other medical services not performed in a hospital.

 

Howe Financial can help you determine if an alternative approach to Original Medicare might be the correct solution for your situation:

 

Medicare Advantage Plans (Part C) 

Part A (hospital insurance) and B (medical insurance) are combined in one plan and may include additional benefits beyond Original Medicare, like prescription drug coverage, dental, hearing, and vision care.

 

Dual Special Needs Plan (D-SNP)

These plans are designed for members who receive Medicare Parts A and B and also qualify for Medicaid and live in the plan's coverage area.

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Chronic Condition Special Needs Plan (C-SNP)

These are special needs plans that restrict enrollment to individuals with severe or disabling chronic conditions such as lung and cardiovascular disorders and diabetes mellitus, to name a few. According to the Centers Medicare & Medicaid Services, approximately two-thirds of Medicare enrollees suffer from multiple chronic conditions, which may qualify them for one of these plans.

 

Medicare Supplement Insurance Plan

Also called Medigap, these plans help cover out-of-pocket costs not paid by Original Medicare.

 

Medicare Prescription Drug Plans (Part D)

This plan helps pay for prescription drugs and can be used with Original Medicare or Medicare Supplement plans.

 

We do not offer every plan available in your area. Please contact medicare.gov, 1-800-MEDICARE, or your State Health Insurance Program (SHIP) to get information on your options.