Medicare Insurance1 Plans
Many local Farmers® agents offer Medicare products from some of the largest names in health insurance, through Kraft Lake Insurance Agency, Inc., a brokerage owned by Farmers Group, Inc.2
Click here to talk with a Farmers agent that can sell Medicare products
Turning 65 soon? Have questions about Medicare Advantage, Medicare Supplement, or Medicare Prescription Drug plans?
Navigating your Medicare choices can be intimidating. Do you want to fill the gaps in Original Medicare with Medigap and Part D? Or switch to a Medicare Advantage plan with more services or a lower out-of-pocket cost? When do you need to wait for the Annual Enrollment period? How do you qualify for some other enrollment window during the year?
A licensed insurance agent trained on Medicare insurance products can help as you explore your options.
Medicare Insurance Program
The federal Medicare program is national health insurance for people 65 or older and for people with certain illnesses or disabilities. Medicare provides a range of coverages to help cover medical expenses. But Medicare doesn’t offer the same range of coverages and options as private medical insurance, and it leaves some significant gaps. Medicare insurance products can help fill those gaps and provide a broader range of services.
What Does Medicare Provide?
Benefits offered under the Medicare program are:
- Medicare Part A – Hospital insurance that helps pay for stays in hospitals, skilled nursing facilities, and hospice. It can also cover some home health care for qualified individuals.
- Medicare Part B – Medical insurance that helps pay for outpatient medical care such as doctor’s visits, preventive care, medical supplies, and rehabilitation.
For more information on what is covered by original Medicare, see Medicare & You from the U.S. Centers for Medicare and Medicaid Services.
What are the Significant Gaps in Original Medicare?
Original Medicare leaves significant costs up to the individual.
- It has 20% coinsurance – after you pay your deductible for a covered service, Medicare covers 80% of the cost, while you must cover 20%.
- Medicare does not cover prescription drugs, dental, vision, or hearing expenses.
- Medicare does not have a limit on annual out-of-pocket costs.
- If you travel, Original Medicare doesn’t cover emergency medical costs outside the United States.
Medicare Insurance Options
Private insurance companies offer several options to help you fill the gaps left by Original Medicare.
Original Medicare plus Optional Coverage: You can supplement Original Medicare and add separate Part D prescription drug coverage and/or Medicare Supplement/Medigap insurance to help cover your deductibles and copays under Original Medicare. Medigap plans can cover some or all of your coinsurance, deductibles, and foreign travel emergencies.
Medicare Advantage / Medicare Part C: These are privately-run replacements for Original Medicare coverage. These plans, approved by Medicare, replace Original Medicare for your Part A and Part B coverages. Most plans also include Part D drug coverage and offer additional benefits not covered by Original Medicare.
Medicare Advantage Plans generally have a lower monthly plan premium than Medicare Supplement Plans.
Talk to your agent.
Medicare gives you a lot of choices. Available plans and premiums vary by location. A local agent trained to present Medicare coverage options can help as you explore options that fit your budget and medical situation.
1 Not affiliated with any government agency or the Federal Medicare program.
Medicare products are not offered or provided by Farmers® insurers; they are made available through Kraft Lake Insurance Agency, Inc., a brokerage owned by Farmers Group, Inc., in all states other than AK, FL, HI. Farmers Insurance® entities are not responsible for the Medicare products and/or services. Not available in all states.
2 This is a solicitation for insurance.
A message from Kraft Lake Insurance Agency. Inc.: We do not offer every plan available in your area. Currently we represent 0-78 organizations which offer 0-2,613 products in your area. Please contact Medicare. gov, 1-800-MEDICARE, or your local State Health Insurance Program (SHIP) to get information on all of your options. The exact carrier and plan counts are determined by your ZIP code and county.