Medicare Questions
Medicare Questions
Do you need quick answers? We have them.
What's your Question?
What Is Medicare?What if I have a pre-existing condition?Can my spouse/partner and I share a policy?How does this work with Social Security?How is Medicare different from Medicaid?What decisions do I need to make?What if I'm still covered by an employer or spouse's/partner's employer plan?What’s the difference between premiums, deductible, copays, and coinsurance?
Can I get vision, dental, and hearing insurance?Can I get a free gym membership?How much does Medicare cost?Will my costs go up over time?Am I covered if I travel out of state or the U.S.?How can I anticipate cost changes?Will my benefits change over time?What is covered by Medicare supplement insurance policies and Medicare Advantage plans?
Can I change plans if I don't like the one I selected?Can I switch plans if I move?What happens if I get sick and need more coverage?Can I change plans at any time during the year?Can I switch between Medicare supplement insurance and Medicare Advantage?Do I have to re-enroll every year?What if my plan is no longer available?Can I switch my Medicare supplement insurance policy?
Q. What’s the difference between premiums, deductible, copays, and coinsurance?
Short Answer
Premiums are regular amounts you pay for coverage. Most people with Medicare supplement insurance policies pay monthly premiums. These premiums can go up over time.
A deductible is a dollar amount you need to pay out of pocket before your coverage begins paying.
Copays are dollar amounts you pay whenever you receive a certain procedure.
Coinsurance is a percentage of the total charge you pay whenever you receive a certain procedure.
How does this all fit together?
This makes sense now. Let’s see how all these pieces work together.
Medicare 101
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