Best Medicare Plans in Colorado
Medicare in Colorado provides a lot of Colorado beneficiaries with healthcare coverage. If you’re going to be in your Medicare Initial Enrollment Period soon, it’s time to start learning more about Medicare in Colorado if you want to minimize your health care costs for medical services. Now is also a good time to learn about Medicare plans in Colorado — such as Medigap plans or Medicare Advantage plans — so that you will know what insurance plans to sign up for once you’re enrolled in Original Medicare Part A and Part B.
Overview of Medicare In Colorado
Understanding the world of Original Medicare can be challenging, but this guide is here to help you out. Basically, Colorado Medicare benefits are designed with those who are 65 or older in mind. However, some people who suffer from certain disabilities can also become Medicare beneficiaries in Colorado before they turn 65.
Original Medicare through the federal Medicare program refers to Medicare Parts A and B. Medicare Part A is hospital insurance. Medicare Part B is medical insurance and is more similar to health insurance that you might have had with health plans in the past.
Most Medicare beneficiaries in Colorado do not have to pay a premium for Medicare Part A. However, you always have to pay a Medicare Part B premium as a part of your out-of-pocket costs for healthcare. In addition to Colorado Medicare insurance through Original Medicare, there are Colorado Medicare plans that you can choose from to enhance your Medicare coverage.
Enrollment Statistics for Medicare in Colorado
If you’re a beneficiary who is interested in some statistics about Colorado Medicare benefits and the other beneficiaries in your state, check out these fun facts:
- There were 911,645 total Colorado Medicare insurance beneficiaries in the state in 2018.
- Of these Colorado beneficiaries, 324,951 were covered under a Medicare Advantage plan.
- Many beneficiaries of Medicare in Colorado sign up for Medicare Supplement insurance to help with copayments, coinsurance, and deductibles that are left behind by Medicare.
- Multiple companies with top star ratings offer Supplements and Part C plans for Colorado residents.
Best Types of Medicare Plans in Colorado
If you want to be covered by more than just Original Medicare insurance, check out these plan options that you can purchase from a private insurance company. Different plans offer different coverage, benefits, and monthly premiums. Compare the benefits and rates of each type of plan to decide which one is right for you.
- Medicare Supplement Plans in Colorado – Also known as Medigap plans, these plans work to enhance Original Medicare in Colorado. If you decide to take this route, you can choose between 10 different Supplemental Medicare plans in Colorado.
- Medicare Advantage Plans – Designed to replace Original Medicare rather than enhancing it, Medicare Advantage plan options (also known as Medicare Part C) are another popular option. They often include wellness benefits and coverage for hearing, dental and vision, which is not included in any of the Medicare Supplement plans. Medicare Part D prescription drug coverage is also sometimes included. HMO or PPO plans, which are popular, do have service area network restrictions. PFFS/private fee for service plans and other options are available without network restrictions, but they are not as common.
- Medicare Prescription Drug Plans – Part D – If a Medicare Part D plan is not included in your Medicare Advantage policy, or if you have a Supplement instead of Advantage, you’ll need a stand-alone prescription drug plan. This helps cover prescription drug costs. If you don’t sign up as soon as you’re eligible, you may be subject to a Medicare Part D late enrollment penalty.
- Special Needs Plans – These Medicare plans in Colorado are designed specifically for those who have serious health conditions. One example is end-stage renal disease.
Colorado Medicare Resources
You might still have questions about Original Medicare insurance. If you want to know more about Medicare in Colorado, these links can help. You may be able to find financial help through these links, too.
- Colorado Senior Healthcare
- Health First Colorado
- CMS: Centers for Medicare and Medicaid Services
- Complete Description of Benefits for Medicare
- Colorado Medicare Savings Program/Assistance Program
If you’re ready to compare rates to find the best plan, your best course of action is to use our website or give us a call. You can check out a Medicare Supplement plans comparison chart here on our website to find out if a Supplement might be right for you, and we can even help you get Medicare Supplement plan quotes from each top insurance agency so that you can find the best deal. Don’t hesitate to give us a call to talk to one of our licensed insurance agents today!