The Original Medicare Plan pays for many health care services and supplies, but it doesn’t pay all of your health care costs or cover prescription drugs. To help cover extra health care costs, you might want to get additional insurance coverage.

A Longevity Alliance Health Care Advisor can help you select the plan that is right for you. For each type of product we have a choice of companies so that we can find the right coverage for your specific needs.

Today, consumers have a choice of products.

Medicare Supplement (Medigap) Plans fill the gaps that Original Medicare doesn’t cover. A variety of plans are available to pay deductibles and coinsurances and provide additional coverage for long-term hospital stays once you exhaust your lifetime reserve days. If you enroll in one of these plans within six months of first becoming eligible for Medicare Part B and being 65 or older, you are guaranteed acceptance into any Medicare Supplement plan offered in your area. After this guaranteed enrollment period, you may be required to answer medical questions, and you may be denied coverage. So, if a Medicare Supplement plan is right for you, sign up during that period even if you are healthy at the time you are first eligible. If you wait until your health deteriorates, you may not be able to purchase a Medicare Supplement plan, or you may have to pay much more for it.

A Medicare Advantage Plan, which usually covers additional services that Original Medicare does not cover, may be right for you but you may need to use a network of participating medical providers to maximize your benefits,. Many of these plans do not require costs above your Medicare Part B premium. Many cover prescription drugs. But they often will not cover non-emergency services obtained through non-network hospitals and medical providers.

You can purchase a Medicare Prescription Drug Plan (Part D) If you obtain coverage through Original Medicare, with or without a Medicare Supplement plan,. This benefit, first introduced in January 2006, is offered by private insurance companies, each offering varying benefits. It can be confusing, but don’t allow the complexities of choosing a plan deter you from obtaining this important protection. If you don’t enroll in a plan when you are initially eligible, you will only be allowed to sign up during the Annual Enrollment Period (Nov. 15 through Dec. 31 each year) and you may have to pay a penalty. Changes from one plan to another can also be made only during this Annual Enrollment Period.

Next: Enrolling in Medicare