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Medicare Information and Medicare Supplements and Prescription Drug PlansMedicare Basics
Medicare is a Federal health insurance program for people who are 65 and older and for certain disabled people. Both you and your spouse automatically qualify for Medicare if you are 65
years of age and you are eligible for Social Security or Railroad Retirement benefits.
Medicare Part A, Part B, and Medicare Supplements
Medicare has two parts: Part A provides hospital insurance and is free. Part B provides additional medical insurance and has a premium. To protect you against gaps in your Medicare coverage, AM Warner Insurance offers a variety of Medicare Supplement plans through a variety of quality resources.
Whichever plan you choose, you will enjoy the following:
- Choosing your own doctor.
- You are not required to have a medical exam.
- Your coverage cannot be cancelled due to your age or benefit use.
- A money-back guarantee gives you 30 days after purchase to decide whether to keep the plan.
- Four modes of convenient payment options: Monthly (via bank draft), Quarterly, Semi-annually or Annually.
Medicare Part A, Hospital Insurance*
Medicare Part A has no charge. You are eligible for this when you turn age 65, unless you have a disability and are eligible prior to that time. Part A provides for hospitalization coverage.
Medicare Part A pays for:
- Pays 100% of hospitalization up to 60 days. You pay the Part A deductible of $876.
- Covers amount over $219/day for days 61-90 of a hospital stay.
- Covers the amount over $438/day for days 91-150 of a hospital stay.
- Pays 100% of skilled nursing facility for the first 20 days.
- Covers the amount over $109.50/day for days 21-100 of a skilled nursing facility.
- Some home health care services, but must meet specific conditions of coverage.
- Pays 80% for Medicare-approved durable medical equipment.
- Hospice Care, but must meet conditions of coverage.
- Covers blood needed after the first 3 pints used.
* Costs and deductibles are for the year 2004.
Medicare Part B, Medical Insurance*
 Medicare Part B has a charge that is typically deducted from your social security check. The cost for this coverage for 2004 is $66.60/month. You must be eligible for Part A to have Part B. You must enroll in this part of Medicare and this is typically done when you are eligible for Part A. Part B provides for medical coverage such as doctor visits.
Medicare Part B pays for:
- Pays 80% of Medicare approved amount for medical services (doctors). You pay an annual deductible of $100.
- Covers clinical laboratory services.
- Some home health care services, but must meet the conditions of coverage.
- Pays 80% for Medicare-approved durable medical equipment.
- Outpatient hospital services.
- Covers 80% of the cost blood needed after the first 3 pints used.
* Costs and deductibles are for 2004.
The standard benefit in 2006 is:
- In 2006, the beneficiary will pay a $35 per month premium ($420 per year) if they want the prescription drug benefit coverage. Beneficiaries are not required to enroll in Part D, but if they enroll later they will pay a higher monthly premium.
- The beneficiary pays a $250 annual deductible before Medicare pays anything.
- The beneficiary pays 25% of the costs of the next $2,000 of drug expenses (the beneficiary pays $500 of next $2,000 of drugs costs plus all of the first $250 of drug costs for a total of up to $750).
- After $2,250 of drug costs, there is no coverage until the beneficiary has paid another $2,850 worth of drug expenses (the beneficiary pays up to $3,600 for up to $5,100 in drug costs).
- Catastrophic coverage begins after the beneficiary has paid $3,600 of out-of-pocket expenses ($5,100 total drug costs). The beneficiary pays the greater of either $2 for generic, $5 for brand name drugs, or 5% of the cost, whichever is greater.
- Low-income individuals (depending on their income level) will pay a much smaller amount of their drug costs (see "assistance to low-income beneficiaries for the Part D prescription drug benefit" information below).
Please visit our special page on Medicare Part D Prescription Drug Benefits for additional information on this important topic. We have cost break downs, cost charts, and information on benefits for low income beneficiaries.
Medicare Supplement or Medigap Insurance
 Medicare Supplements or Medigap Policies as they are sometimes called are sold by private insurance companies to fill the gaps in Medicare. They pay for some of the things that Medicare does not (deductibles, coinsurance). A Medicare Supplement can help you lower your out of pocket cost and get more health care coverage.
There are 10 standardized plans. They are labeled Plans A through J. You should not confuse a Plan A or Plan B with Medicare Part A or Part B. In order to get a Medicare Supplement, you MUST have Part B of Medicare
If you are within the first 6 months of signing up for Medicare Part B, you are guaranteed acceptance for any Medicare Supplement plan from any company you choose. Outside of the initial enrollment period, there may be some health questions and underwriting that is performed.
Medicare Supplements DO NOT cover:
- Long Term Care
- Long Term Care
- Hearing Aids
- Private duty nursing
- Unlimited prescription drugs
AM Warner Insurance Offers All 10 Standard Medicare Supplement Insurance Plans
Not all insurance companies offer all plans. AM Warner Insurance is proud to announce that we offer Medicare Supplements from multiple companies and can offer all 10 of the standard plans at very competitive rates.
We can offer those plans in Kentucky
and
Indiana only. If you need a referral for another state, we are happy to provide that for you. Choosing a Medicare Supplement does not need to be a confusing undertaking, but trying to understand it alone may not give you the benefits you are looking for. AM Warner Insurance can help understand your health insurance requirements to guide you to the plan that would be most appropriate and cost affordable for you.
We Offer Great Rates on Medicare Supplement Insurance
Our companies have very competitive rates and they are names you can trust! Please call us at (502) 742-4979 for a quote today so you can begin saving money now!
- Continental Life
- Both Standard and Select Plans
- Plans A, B, C, D, E, F, G
- Anthem
- Both Standard and Select Plans
- Plans A, B, C, E, F, H
- United Teachers Associates
- Both Standard and Select Plans
- Plans A, B, C, D, F, G
- Mutual of Omaha -- United World Life
Nationwide Referrals
AM Warner Insurance is licensed to provide insurance products in Kentucky and Indiana. If you are outside this area, a referral to an agent in your area is available; all you need to do is , and we'll have someone contact you right away. We provide referrals nationwide!
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