There are a few considerations to keep in mind as you begin searching for additional Medicare insurance coverage. First and foremost, there are two types of Medicare plans. You need to understand the difference between a Medicare Supplement and a Medicare Advantage plan.
They are not the same – in fact, they work very differently. Once you understand how each plan works… ask yourself some of these questions to help you filter down to which kind of plan might best suit you.
Do your important physicians participate in Medicare Advantage plans or do they only accept Original Medicare?
How about peace of mind? Are you a person who will sleep better at night if you have a lower premium and just pay for services as you go? If so, you might be a good candidate for a Medicare Advantage plan. By contrast, if you tend to worry about unexpected expenses, a Medicare Supplement could give you the peace of mind of knowing exactly what medical spending you will incur regardless of your health.
Do you travel out of the area frequently? If so, you might find Original Medicare with a Medicare Supplement to be a good fit for you since you can use it for any doctor or hospital in the nation that accepts Medicare.
What is your risk tolerance? If you have a year of heavy health spending, do you have enough savings to spend the possible out-of-pocket maximum that a Medicare Advantage plan might require?
Before you decide on “options,” you need to understand why people feel the need to add something to Original Medicare. In other words, why isn’t Original Medicare enough?
Original Medicare (Parts A&B) – Deductibles, Co-pays, Co-insurance, and no stop loss!
On it’s own, Original Medicare (Parts A and B) is pretty good (especially in light of most non-Medicare plans). You have the freedom to go to any doctor or hospital that accepts Medicare and referrals are not required! In fact, if your care usually consists of a couple of doctor visits a year and/or accessing preventive care such as a mammogram or a prostate screening the costs are pretty manageable. However….
The issue with this approach can arise when you start needing care in a hospital setting and/or develop serious conditions. In cases like this, the deductibles, the co-pays, and the co-insurance associated with Original Medicare can become costly, not to mention no stop loss.
On the Part B side, after a $233 deductible (2022), the patient responsibility is usually 20% (Medicare usually pays 80%) on most doctor and medical services. While 20% does not seem too bad, if you are diagnosed with something more serious (such as cancer or a major heart procedure), then that 20% could be large as well…and there is no limit to high the charges can go! These are known as the GAPS in Medicare.
These GAPS are why most people choose to have additional coverage. This effectively puts a ceiling (or “stop loss” or “maximum out of pocket”) on the potential costs that could be billed to you in the event of a major illness or accident. This gives peace of mind.
The good news is that there is coverage available no matter what your budget is. Medicare Supplements provides more comprehensive medical coverage and the widest level of access to Medicare doctors across the nation.
Medicare Advantage plans typically cost less than Medicare supplements, but there are some restrictions. You will have a smaller network of doctors that you can see, and out -of-network care can be pricey or not covered at all. Instead of paying a higher premium up front, you’ll have smaller premiums and you’ll pay more copays for medical services as you go along.
Medicare supplements pay as a secondary insurance to Medicare Part A and Part B. This means they pay after Medicare first pays its portion of the bill. You stay enrolled in Original Medicare, and Medicare sends the remainder of your bills to your supplemental company. Then the supplement company pays its share according to which plan you are enrolled in.
Medicare Advantage plans, on the other hand, are entirely separate from Medicare. When you enroll into a Medicare Advantage policy, you get your benefits from the plan, not Medicare. You agree to use the plan’s network of providers except when you need emergency care. You’ll pay copayments for your health care treatment as you go along. Think of these plans as an alternative to Original Medicare.
Which is best…Medicare supplements or Medicare Advantage?
The answer to this varies from person to person. Satisfaction depends largely on a customer’s expectations, budget and style of care they prefer (or have become accustomed to).
We find that people who don’t mind paying a premium and who want maximum doctor choice are often good fits for supplements. Also, people who travel frequently or who want to minimize co-pays and co-insurance often prefer this type of coverage as well.
For Medicare Advantage plans, the lower premium options are a very popular feature. For those willing to utilize doctor networks, get referrals, and pay co-pays and co-insurance when they access care, Advantage plans are a nice option. The extra benefits (such as routine dental, vision, and hearing) not covered by Medicare are also very enticing and popular.
Hospital & Inpatient Care
It all began in 1986 when Multiple Sclerosis Limited (MSL) identified the need for high-quality care services for people living with this chronic disease.
By 1999, MSL recognised the time had come to establish NanoCare as a separate legal entity. A savvy and experienced Board was appointed and we were firmly on the path to growth.
This growth was boosted by a series of acquisitions within the care sector between 2001 and 2008. By then, we had earned a reputation as an experienced and sizeable private care service provider.
In 2010, the purchase and integration of Nationwide Health & Aged Care Services represented a major milestone in our growth as specialist cleaning and laundry services bolstered our business portfolio.
At around the same time, NanoCare partnered with the US-based Healthcare at Home. In 2013, NanoCare acquired the business. This nurse-led service has provided a safe, high-quality alternative to hospital care for people with cancer and chronic disease.
Today, we are proud to continue our work as a wholly-owned, not-for-profit subsidiary of MSL
Doctor Visits & Outpatient Care
It all began in 1986 when Multiple Sclerosis Limited (MSL) identified the need for high-quality care services for people living with this chronic disease.
By 1999, MSL recognised the time had come to establish NanoCare as a separate legal entity. A savvy and experienced Board was appointed and we were firmly on the path to growth.
This growth was boosted by a series of acquisitions within the care sector between 2001 and 2008. By then, we had earned a reputation as an experienced and sizeable private care service provider.
In 2010, the purchase and integration of Nationwide Health & Aged Care Services represented a major milestone in our growth as specialist cleaning and laundry services bolstered our business portfolio.
At around the same time, NanoCare partnered with the US-based Healthcare at Home. In 2013, NanoCare acquired the business. This nurse-led service has provided a safe, high-quality alternative to hospital care for people with cancer and chronic disease.
Today, we are proud to continue our work as a wholly-owned, not-for-profit subsidiary of MSL
Combined A & B Plan
It all began in 1986 when Multiple Sclerosis Limited (MSL) identified the need for high-quality care services for people living with this chronic disease.
By 1999, MSL recognised the time had come to establish NanoCare as a separate legal entity. A savvy and experienced Board was appointed and we were firmly on the path to growth.
This growth was boosted by a series of acquisitions within the care sector between 2001 and 2008. By then, we had earned a reputation as an experienced and sizeable private care service provider.
In 2010, the purchase and integration of Nationwide Health & Aged Care Services represented a major milestone in our growth as specialist cleaning and laundry services bolstered our business portfolio.
At around the same time, NanoCare partnered with the US-based Healthcare at Home. In 2013, NanoCare acquired the business. This nurse-led service has provided a safe, high-quality alternative to hospital care for people with cancer and chronic disease.
Today, we are proud to continue our work as a wholly-owned, not-for-profit subsidiary of MSL
Prescription Drug Coverage
NanoCare is committed to providing high-quality health care services to individual clients and their families, as well as to other healthcare organizations in need of supplemental staffing (such as certified home health and hospice agencies, health plans, hospitals, nursing homes and assisted living facilities).
Our priority is to provide state-of-the-art and compassionate in-home care from highly-trained medical professionals and aides. To make good on this promise, proper training is paramount. Not only do we hire the most experienced personnel, but we provide them with in-depth disease-specific training so that they can deliver specialized care to our clients.
At NanoCare, we believe everyone should have the opportunity to live a healthy, active and fulfilling life. This ethos is at the heart of everything we do.
We provide everyone we support with the opportunity to continue to live life to the full. We actively encourage Service Users to become more self-reliant, to make decisions for themselves, and ultimately, to move on to more independent living arrangements.
We facilitate and support our Service Users to pursue meaningful and personalised lifestyles. We provide individually planned education & leisure opportunities to support each individual in their ongoing development.
Our leadership team
Our home health care management team is highly experienced in delivering exceptional care and support for clients – regardless of age or specific medical needs.
The leadership team at NanoCare discusses what home care means to them and how NanoCare is changing the way the world ages.
Keira Knightley
CEO/Chief
For her role at the helm of NanoCare, Keira has been honored as Women Health Care Executives 2016 Woman of the Year.
John henry
CEO/President
John henry is the co-founder of NanoCare. He has over 27 years of financial and business management experience.
Sophia jabola
VP of Franchise Development
She is currently responsible for the day-to-day operations of the Payroll, Billing and Collection departments.
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