When was Medicare originally put into place?
- The Medicare program was first established in 1965 by the Johnson administration
What is “original medicare?”
- This program, known as “original medicare,” consisted of Parts A and B. Part A is hospital coverage, Part B covers doctor’s visits, outpatient services and coverage for some medical supplies
What changes have been made to Original Medicare?
- As a result of rising health care costs, the Medicare Modernization Act was enacted in 2003. The MMA effectively added two more parts to Original Medicare: Part C, which consists of Medicare Advantage Plans, and Part D, which allows for prescription drug coverage.
Are Medicare Supplement plans the same as Medicare Advantage Plans?
- Medicare Supplement plans are NOT the same as Medicare Advantage Plans; there are significant differences between the two
What should I consider when choosing a Medicare Advantage Plan?
- There are several factors to consider when making a decision on which Medicare Advantage Plan works the best for you, such as whether or not your primary care physician is within the network.Your prescribed medications may have an impact on which plan is the best one to suit your needs. In fact, over 90% of Medicare beneficiaries are on the wrong plan, simply because of the medications they’ve been prescribed by their doctors.