Medicare

All Medicare plans are designed by the federal government, so all insurance companies must offer the same minimum benefits and coverages. Although these plans are standardized, each company will have different pricing and could have additional points of value for their plans.

Medicare is a government health plan where the insured is required to select either a Medicare Supplement plan and Prescription Drug (Rx) coverage (Part D) or enroll in an all-in-one plan called Medicare Advantage. There are advantages and disadvantages to each.

Medicare Supplement Plans

Medicare Supplement plans, for example, cost more but give the insured more choices. When you select a Medicare Supplement plan you should enroll in a Medicare Part D plan (Drug or Rx) at the same time.

Medicare Part D

This is prescription drug coverage for Medicare subscribers. There are a few choices in plans and many companies that offer coverage. If you do not enroll in part D when you join Medicare, but you want it at a later date, you will be penalized. When enrolling late, there’s a per month penalty for every month you are not enrolled.

Medicare Advantage

Medicare Advantage is an all-in-one plan (HMO). Although it is less expensive to the insured, it does have some serious limitations. TexasFamilyBenefits.com has a partner that handles this special coverage for you.

Medicare Resources

The following resources will help you make your Medicare decisions.

The annual government handbook, 2010 Medicare and You, explains the Medicare Supplement plans by letter including benefits.

Medicare Supplement plan changes effective June 1, 2010

For additional information on Medicare fill out and submit the following form: