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Medicare Part A coinsurance – all Medigap plans offer this benefit. It covers the very expensive daily hospital copays that you begin accruing after your 60th day in the hospital.

Medicare Part B excess charges – Medicare providers can either accept Medicare’s assigned rates for each service or, if they choose, they can charge you an excess charge. This charge can be up to 15% above the assigned rate. It can be pricey for items like diagnostic imaging or surgery. You may wish to choose a Medicare Supplement that covers this expense.

"To live is the rarest thing in the world. Most people just exist." — Oscar Wilde

Medicare Supplements only pay after Medicare has first paid its share. If Medicare approves a claim and pays the part that Medicare owes, it will forward the remainder of the bill to your Medicare Supplement.

Part D drug plans also have changes from year to year. Your plan’s benefits, formulary, pharmacy network, provider network, premium, and/or co-payments/co-insurance may change on January 1st of each year. Medicare gives you an Annual Election Period during which you can change your plan if you desire to do so.

Around 65% of adults that don’t have life insurance say they don’t know how to buy a policy or aren’t sure what life insurance is right for them.

Medicare Part D is simply insurance for your medication needs. You pay a monthly premium to an insurance carrier for your Part D plan. In return, you use the insurance carrier’s network of pharmacies to purchase your prescription medications.

A HIPAA eligible individual is your status once you have had 18 months of continuous creditable health coverage. To be HIPAA (Health Insurance Portability and Accountability Act) eligible, at least the last day of your creditable coverage must have been under a group health plan; you also must have used up any COBRA or state continuation coverage; you must not be eligible for Medicare or Medicaid; you must not have other health insurance; and you must apply for individual health insurance within 63 days of losing your prior creditable coverage.

Getting “Preauthorized” means a decision by your health insurer or plan that a health care service, treatment plan, prescription drug or durable medical equipment is medically necessary.

A non-preferred provider is a provider who doesn’t have a contract with your health insurer or plan to provide services to you. You’ll pay more to see a non-preferred provider. Check your policy to see if you can go to all providers who have contracted with your health insurance or plan, or if your health insurance or plan has a “tiered” network and you must pay extra to see some providers.