What is Medicare?
Medicare is a federal health insurance program that began in 1965 under the Social Security Administration (SSA) and now administered by the Centers for Medicare and Medicaid Services (CMS).
Who is Eligible for Medicare?
Medicare is health insurance for people 65 or older, certain people under 65 with disabilities, and people of any age with End-Stage Renal Disease and ALS.
When to sign up for Medicare?
There are specific time periods that one can sign up for Medicare in order to avoid being charged with late enrollment penalties. Your Initial Enrollment Period (IEP) is seven months long. It includes your birthday month, plus the three months before and the three months after your birthday month. Your (IEP) begins and ends one month earlier if your birthday is on the first of the month. However, if one is covered by group health insurance, from their employer or through a spouse’s group plan, then one can delay enrolling in Medicare, provided the employer has twenty or more employees. The employer group coverage needs to be due to active work coverage. Retirement benefits are not considered active work coverage. Upon retiring or losing group health coverage, there is an eight month window for when to enroll in Medicare Part A and B and a two-month Special Election Period (SEP) to enroll in a Medicare Part D plan.
Our licensed agents can help you navigate the time periods so you don’t get hit with costly late enrollment penalties.
MEDICARE
Health
Insurance
Doctor
Visits
Medicine
Emergency
Health
Care
Costs
We sell Medicare Supplement/Medigap Plans, Medicare Advantage/Part C and D/Prescription Plans. Everyone’s medical and insurance needs are different. We work diligently to understand your particular needs and preferences so we can recommend the appropriate coverage that fits your needs best.
Medicare Plans
medicare part a
Hospital Insurance
Coverage Includes:
Helps cover hospital stays, home health care services, short-term rehab in a nursing facility and hospice care. For most people, Part A is free upon becoming Medicare eligible. Part A doesn’t cover the full Medical costs, there is a deductible and copays for Part A coverage.
Medicare part B
Medical Insurance
Coverage Includes:
Helps cover outpatient care, services from doctors and other health care providers, durable medical equipment and many preventative services.
There is a baseline monthly premium of $170.10 for the year of 2022. For those that qualify for Medicaid, the premium is either reduced or waived. For high income earners, the premium is increased. Part B only covers up to 80% of medical expenses and there is an annual $233 deductible as well.
medicare part C
Medicare Advantage
Coverage Includes:
Part A (Hospital)
Part B (Medical)
Most Plans Include:
Part D (Prescription Drug Coverage)
A Medicare Advantage Plan also known as Part C, is another way to get you Medicare Part A and Part B coverage. Medicare Advantage Plans are provided by private insurance companies that offer alternatives to Original Medicare. These plans include Parts A, B and usually D (drug coverage).
In most cases, you’ll need to use doctors who are in the plan’s network.
The plans are designed to help reduce the out-of-pocket costs of Original Medicare.
Many Medicare Advantage Plans offer supplemental benefits including vision, hearing, and dental. To qualify for a Medicare Advantage Plan, one needs to be enrolled in Medicare Part A and Part B.
There are dozens of Medicare Advantage plans. Depending on your insurance preferences, budget and the medications you’re prescribed with, will help determine which Part C plan would be most suitable for you. Our licensed agents are trained to sift through the many available plans in your area and help you select a plan that suits you best. Medicare Advantage plans can change annually, our team is here to help you with your coverage, year after year.
Supplement Plan
Medigap Plan
Medicare Supplement Plans, also known as Medigap Plans, are health insurance policies that help reduce the out-of-pocket costs in Original Medicare (like your 20% coinsurance), but can not be used with Medicare Advantage.
Medigap/Supplemental plans fill the “gaps” in Original Medicare.
You can join a separate Medicare drug plan, Part D, to get prescription drug coverage.
You can use any doctor or hospital that takes Medicare, anywhere in the US.
To buy a Medigap policy you must have Medicare Parts A & B. Our licensed agents are very knowledgeable and can help talk you through your Medicare Supplement / Medigap options.
medicare part D
drug coverage
Coverage Includes:
Part D, also known as Prescription Drug Plans (PDP) are stand alone drug plans that help cover the cost of prescription medications (including many recommended shots or vaccines).
Plans that offer Medicare drug coverage are run by private insurance companies that follow rules set by Medicare.
To be eligible for Part D, one must be enrolled in Medicare Part A and/or Part B.
There are dozens of Part D plans to choose from. Depending on the medications you are prescribed with, will help determine which drug plan would be most suitable for you. Our licensed agents are trained to sift through the many available plans in your area and help you select a plan that suits you best. Drug coverage can change annually, our team is here to help you with your prescription coverage, year after year.
We sell Medicare Supplement / Medigap plans, Medicare Advantage/Part C and Part D/Prescription Drug Plans. Everyone’s medical and insurance needs are different.
We work diligently to understand your particular needs and preferences so we can recommend the appropriate coverage that fits your needs best.
