Aevo specializes in supporting people who are preparing to transition onto Medicare in making the appropriate decisions for their medical and financial needs.
Medicare is the federal health insurance program for people who are 65 or older, certain younger people with disabilities, and people with End-Stage Renal Disease (permanent kidney failure requiring dialysis or a transplant, sometimes called ESRD).
Medicare Part A
Part A covers inpatient care received in a hospital, skilled nursing facility, hospice, or home health care.
Medicare Part B
Part B covers certain doctors’ services, outpatient care, medical supplies, and preventive services.
Part C (Medicare Advantage)
A Medicare Advantage Plan is a type of Medicare health plan offered by a private company that contracts with Medicare to provide your Part A and Part B benefits. Medicare Advantage Plans include Health Maintenance Organizations (HMO), Preferred Provider Organizations (PPO), Private Fee-for-Service Plans (PFFS), Special Needs Plans (SNP). If you’re enrolled in a Medicare Advantage Plan, Medicare services are covered through the plan instead of under Original Medicare. Most Medicare Advantage plans also offer extra benefits such as prescription drug coverage.
Medicare Part D
Part D adds prescription drug coverage to Original Medicare. These plans are offered by private insurance companies approved by Medicare and will include an additional premium. It is advisable to review your medications to ensure that they are on formulary for a particular Part D plan. Often Part D coverage can be found included with a Medicare Advantage plan.
Medicare Supplement (Medigap) policies are offered through private insurance companies and provide coverage to fill gaps in Original Medicare where the beneficiary is responsible for copayments, coinsurance, and deductibles. These policies offer standardized benefits although the costs may vary by policy and company.
Extra Help, also known as the Low Income Subsidy (LIS), is a Medicare program that assists people with limited income and resources with their prescription drug costs. If eligible, Extra Help can help pay your Medicare drug plan’s monthly premiums, yearly deductible, coinsurance and copayments. Beneficiaries also would not be subject to the Coverage Gap or any late enrollment penalties. You may automatically qualify for Extra Help if you have full Medicaid coverage, receive help from your state Medicaid program paying your Part B premiums, or if you receive Supplemental Security Income (SSI) benefits. To apply, you can contact your state Medicaid office or by calling 1-800-MEDICARE (1-800-633-4227).