Medicare Hope
Oregon
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Everyone knows that life is precious. But as you grow older, you slowly become susceptible to certain inevitable medical conditions and illnesses that require expensive treatments and medication, while some can even lead to hospitalization. In today’s day and age, affordable healthcare is out of reach for far too many people.

Most people meticulously plan their expenses so they can save a little bit of money on the side for a comfortable retirement. But even after diligent financial planning and saving their entire lives, a single medical emergency is enough to lead people to bankruptcy. On the other hand, people with disabilities are more likely to go through medical debt and financial troubles due to extensive hospital stays and medical equipment.

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What You Need to Know About Medicare Insurance Plans in Oregon

Medicare coverage is automatically activated once any US citizen reaches the age of 65. In addition to that, any person becomes eligible for Medicare if they have been receiving disability benefits from the Railroad Retirement Board or social security for at least 24 months, as well as those who are on regular dialysis or have had renal failure.

Original Medicare

Original Medicare or traditional Medicare includes two comprehensive coverage plans: Part A and Part B.

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Medicare Part C – Medicare Advantage

The Medicare Advantage plan or Part C is another reliable healthcare plan that is funded by numerous private insurance companies that work under contract with Medicare. Many major companies in the US enable US citizens to have access to various premiums at competitive rates, and these services vary between different service providers.

Medicare Advantage plans also include several additional healthcare benefits like coverage for prescription drugs (Part D), vision, dental, hearing, gym memberships, and other health and wellness support programs.

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Medicare Part D

Medicare Part D is a voluntary prescription medication benefit plan that is specifically designed to provide Medicare beneficiaries with discounted drugs. Part D plans usually charge a monthly premium, copay or coinsurance, and an annual deductible. These costs vary and depend on the plan you opt for.

Plan D Deductible

A lot of the Plan D policies have an annual deductible. The maximum deductible for Part D enrollees is $480 in 2022.

Initial Coverage Limit

Beneficiaries will be expected to pay 25% of the cost-sharing, and 75% will be covered by the plan.

Coverage Gap

Medicare Part D coverage gap begins right after your drug plan has paid for a certain amount of prescription drugs. In 2022, this limit is $4,430. This amount changes almost every year, and you will have to pay 25% of the plan’s cost for any brand-name drugs listed in your plan’s formulary.

When signing up for a health insurance plan, many people will find the process intimidating and can get overwhelmed with the number of options available. But our Medicare insurance agents are committed to simplifying things as much as they can and can help you choose well-rounded insurance plans that will provide ample coverage at competitive rates.

To learn more about the different Medicare options available in Oregon, make sure to check out our blog and learn about the step-by-step process of signing up for Medicare.

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Medigap vs. Medicare Advantage

Medigap and Medicare Advantage are both funded by private insurers, and both of these plans offer their own sets of benefits. It’s best to consult with a Medicare insurance specialist and do extensive research before signing up for one of these plans.

Medigap is the best choice for individuals who are looking for a plan that helps pay for Medicare deductibles, coinsurances, and copayments. Medicare Advantage can be used as a reliable alternative to Original Medicare because along with all of Part A and Part B benefits, Part C plans also include several extra benefits like coverage for dental, vision, hearing, prescription medication, etc.

Unlike Medigap, Medicare Advantage cannot be used in conjunction with the Original Medicare.

Medigap is recommended for individuals who frequently exercise Part A and Part B benefits like to choose their healthcare providers and also want coverage for any out-of-pocket expenses.

Medicare Advantage is best for individuals who need an all-in-one solution for healthcare benefits and medication costs. Medicare Advantage also requires its beneficiaries to follow network restrictions and get a physician’s referral.

Comparing Medicare Plans in Oregon

Here are some factors you should consider before signing up for Medicare.

Provider Network

Several Medicare plans provide their enrollees with a recommended network of providers that work under contract with them. By choosing an out-of-network provider, you will have to pay extra premiums and charges that can become a huge financial burden.

Try to opt for hospitals and physicians that are a part of your health insurance plan.

Amount of Coverage Required

Make a note of all your specific needs and requirements and see if your healthcare plan covers them.

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Why Trust Medicare Hope Insurance Agents at Integrity Now Insurance Agents?

Our team of Medicare insurance agents is a certified team of experienced insurance agents who are well-versed with the complex jargon and the dynamics of the industry. We make sure we’re going the extra mile for all of our clients and helping them land comprehensive health insurance plans that fulfill all of their needs and requirement and are within their budget.

With our assistance, countless of our clients in Oregon have received well-rounded healthcare plans provided by top-tier Medicare insurance providers across the US. We assure you that your health is our priority. With our AHIP-certified agents, you don’t ever have to worry about any lacking in your retirement plans again.

Let’s schedule a call today and get free of charge assistance with our reliable Medicare insurance agents; and we will help you compare quotes and walk with you through the intimidating process of signing up for Medicare.

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