Sadly, we all know what happened to John Kennedy, but Lyndon B. It was a strong presidential running point even through John F. Going through the 1950s, Dwight Eisenhower had a program for orphans. Pretty much anything that President Truman wanted to push forward was not embraced or was not popular. due to World War II and it continued to be an issue leading into the Korean Conflict. Sadly, there were too many widows and orphans in the U.S. Following World War II, Harry Truman wanted to establish a widows and orphans fund. To begin this discussion on the ABCs of Medicare, we need to start with a quick history lesson. For the last 17 years, Tom has been certified with the Centers for Medicare & Medicaid, which is the overseer of our Medicare program. My primary focus has been the senior market, which translates into the Medicare market. ![]() I’ve been in the health insurance industry for 43 years. Sign Up for the Modern Wealth Management Educational Series With Medicare open enrollment underway (it runs from October 15 through December 7), I want to make sure that you have the information you need to make an informed, educated decision, whether you’re going into Medicare or are already on it and reviewing your decisions from last year. My name is Tom Allen and I’m excited to be on the Modern Wealth Management Educational Series to review the ABCs of Medicare. 21 Minutes to Read | 36 Minutes to Listen.We’re Happy to Answer Your Questions About the ABCs of Medicare As Well.What Prescription Drugs Are Covered Under Certain Plans.What to Know About Medicare Open Enrollment.Understanding What Medicare Parts A and B Cover and Don’t Cover.If you need help, call Minnesota’s Senior LinkAge LineĪt 1-80, Monday – Friday from 8:00 a.m. Sometimes Cost Plans also include optional Part D prescription drug coverage. They include Medicare Parts A and B, but allow more flexibility to see out-of-network providers. Like Medicare Advantage plans, Cost Plans are offered by private insurance companies approved by Medicare. But currently, Cost Plans are only offered in 21 of Minnesota’s 87 counties. Medicare Cost Plans are another type of Medicare health plan that used to be a very popular option in Minnesota. These are typically out-of-pocket costs, like deductibles, copays, coinsurance and possibly health care costs not covered by Original Medicare while traveling outside the U.S. Medigap policies (Medicare Supplements) are private insurance policies that some people choose to buy to cover some costs not covered by Original Medicare. Plans can change premium amounts or the drugs they cover, so it’s important to compare plans each year. Each year, those with Part D plans can change plans from October 15 to December 7 for the coming calendar year. There are many Part D plans to choose from and all have monthly premiums. Medicare Part D is the optional prescription drug coverage offered by private insurance companies and available to all people with Medicare. Medicare Advantage plans are private health plans that usually require their members to go to providers from their network. Medicare Advantage plans are Medicare plans offered by private companies that contract with Medicare to cover Medicare Parts A, B and sometimes Part D (prescription drug) benefits. Medicare Part C is more commonly known as Medicare Advantage. There is no prescription drug coverage under Original Medicare, but you can enroll in a Medicare Part D plan. There are no networks and you pay the same amount for covered services from any Medicare provider. Under Original Medicare, you can use any health care provider who accepts Medicare. Together Medicare Part A and Part B are also known as Original Medicare. Part B has premiums, deductibles and coinsurance that you have to pay yourself or though other insurance coverage. Medicare Part B covers almost all necessary outpatient medical services, including doctors’ visits, lab work and x-rays, durable medical equipment (wheelchairs, hospital beds, etc.), ambulance services, outpatient hospital care, etc. Part A has deductibles and coinsurance, but most people don’t have to pay premiums for Part A, based on having worked at least 10 years in the US or being married to someone who has. It covers costs such as in-patient stays, skilled nursing facility care, home health care and hospice care. ![]() They can help you compare plans so you can choose the one that best fits your needs. If you need fair and unbiased help, can call Minnesota's Senior LinkAge Line at 80. Medicare has four parts – Parts A, B, C and D. ![]() ![]() Medicare is a federal health insurance program that covers millions of older adults and people with disabilities.
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