Indiana Medicare Solutions: Various Choices and Expansions
In the land of the Hoosiers, Medicare options abound, with Original Medicare, Medicare Advantage, and Medicare Part D up for grabs. Here's the lowdown on these policies, along with some insights to help you make the best choice:
Medicare ABCs
- Out-of-pocket cost: This is what you dish out for healthcare when Medicare doesn't cover the full amounts. Costs can come in the form of deductibles, coinsurance, copayments, and premiums.
- Premium: This is the amount you fork over each month to keep your Medicare coverage afloat.
- Deductible: This is an annual amount you must shell out before Medicare starts contributing to your care.
- Coinsurance: This represents the percentage of your treatment costs that you cover. For Medicare Part B, the coinsurance amounts to 20%.
- Copayment: This is a fixed dollar amount you pay when you receive certain treatments, such as prescription drugs under Medicare.
Original Medicare
This healthcare plan breaks down into two parts:
- Part A: Also known as hospital insurance, Part A covers inpatient hospital stays, skilled nursing facilities, hospice care, and home healthcare.
- Part B: Popularly known as medical insurance, Part B pays for outpatient services, outpatient treatments like doctor visits, preventative care like vaccines and screenings, durable medical equipment, and home healthcare.
Medicare Advantage in Indiana
Medicare Advantage (Part C) presents an alternative to Original Medicare, offered by Medicare-approved private insurance companies. These plans offer the same coverage as Original Medicare while often throwing in extras like prescription drug coverage and benefits not covered by Original Medicare, such as vision, dental, and hearing.
A handful of companies offer Medicare Advantage plans in Indiana:
- Aetna
- Essence Healthcare
- Anthem Blue Cross and Blue Shield
- Humana
- UnitedHealthcare
- Wellcare by Allwell
It's worth noting that not all plans are available in every area—use the Medicare online tool to find suitable plans in your ZIP code.
Medicare Part D
Medicare Part D aids in covering prescription medication costs, managed by private insurance companies. Many Medicare Advantage plans include prescription drug coverage, while those with Original Medicare can opt for a standalone Part D plan.
Medigap in Indiana
Medicare supplement insurance (Medigap) is optional insurance sold by private insurers that can help with costs like deductibles, coinsurance, and copayments for Original Medicare.
Providers offering Medigap plans in Indiana include:
- AFLAC
- Aetna
- Allstate
- Anthem Blue Cross Blue Shield
- Globe Life
- Humana
- Mutual of Omaha
- UnitedHealthcare
- USAA
- Wellcare
Medicare eligibility
To qualify for Medicare, you must meet the following requirements:
- Be 65 years old or older or have certain disabilities or medical conditions, such as end-stage renal disease (ESRD) or amyotrophic lateral sclerosis (ALS)
- Be a U.S. citizen or legal resident of the U.S.
Considerations when choosing Medicare in Indiana
To narrow down your options, take these factors into account:
- Provider Network: Ensure your healthcare providers are part of the network for your chosen Medicare Advantage plan.
- Prescription Drugs: Make a list of your medications and compare it to the coverage provided by standalone prescription drug plans and Medicare Advantage plans in your area.
- Travel Coverage: Look for Medicare Advantage plans that offer coverage outside the plan's service area if you travel frequently.
- Plan Performance: Check out the CMS's annual performance ratings for Medicare plans, ranging from one to five stars, with five being the highest.
For personalized health insurance assistance, contact Indiana's State Health Insurance Assistance Program (SHIP) at 1-800-452-4800 (TTY: 1-866-846-0139). You can also reach out to Medicare directly by phone at 800-633-4227 or online chat. For more resources to guide you through the ins and outs of medical insurance, check out our Medicare hub.
- In Indiana, MedicareAdvantage (Part C) offered by Medicare-approved private insurance companies, such as Aetna, Essence Healthcare, Anthem Blue Cross and Blue Shield, Humana, UnitedHealthcare, and Wellcare by Allwell, presents an alternative to Original Medicare, offering the same coverage and often including extras like prescription drug coverage and benefits not covered by Original Medicare.
- Medicare Part D, managed by private insurance companies, aids in covering prescription medication costs for Medicare beneficiaries. While some Medicare Advantage plans include prescription drug coverage, those with Original Medicare can opt for a standalone Part D plan.
- Indiana also offers Medicare supplement insurance (Medigap), sold by private insurers like AFLAC, Aetna, Allstate, Anthem Blue Cross Blue Shield, Globe Life, Humana, Mutual of Omaha, UnitedHealthcare, USAA, and Wellcare. Medigap can help cover costs like deductibles, coinsurance, and copayments for Original Medicare.
- Medicare offers guidance for those feeling overwhelmed by the choices. For personalized health insurance assistance, beneficiaries can contact Indiana's State Health Insurance Assistance Program (SHIP) at 1-800-452-4800 (TTY: 1-866-846-0139). Additionally, it's essential to consider factors like provider network, prescription drugs, travel coverage, and plan performance when making a decision about Medicare options in Indiana.
