Medicare 101
Medicare is a federal program that provides individuals 65 years or older healthcare coverage at a small cost. Original Medicare coverage is broken into two parts-Part A and Part B-and is accepted by nearly every doctor and hospital in the country. Medicare Part A covers inpatient or hospital stays while Part B covers outpatient or medical care.
Together, Part A and B cover about 80% of the typical healthcare costs seniors face-leaving a few significant gaps in coverage. Medicare Supplement (Medigap) plans are supplemental policies designed to help extend coverage, lessen costs, and ultimately give beneficiaries peace of mind at all times.
We get a lot of questions about Medicare. We are a licensed Medicare agent and can answer them all for you.
Some common questions include:
•How does it work?
•Why do you need more than just Medicare A and B to protect you from high medical costs?
•What is Part D?
•What is Part C?
•What is the difference between Medicare Supplement and Medicare Advantage?
•Can I enroll in Medicare any time?
We can help you:
•Feel confident about your Medicare knowledge
•Feel confident about your selection of Medicare products
•Feel confident that you will have knowledgeable and caring agents and excellent customer service
If you are turning age 65 in the next few months, or comparing your current coverage to alternatives…
…you may feel overwhelmed. And frustrated too! I bet you are experiencing one or both of these scenarios:
-You are receiving letters and packages from insurance companies and insurance agents in the mail daily. The mail pieces look different, but they are all the same. They want to sell you their one insurance company’s product! Any question you ask, their answer will be the same, “My insurance company’s plan is your answer!”
-You are surfing the internet and looking over supplemental insurance plans to pair with Medicare (Medicare Supplement, Part D Rx, Medicare Advantage), at insurance companies’ web sites, and again, they are hawking one answer for each one of your questions, “My insurance company’s plan is your answer!”
There are two main reasons this is not helpful to you at all.
One Choice is Not Better Than Many Choices.
First, their insurance plan may be the best choice, but there are 30+ other plans available to you! Wouldn’t it be nice to compare these other plans to make sure you are indeed choosing the best plan?
Clear Information is Helpful, Not a Sales Pitch
And Second, this answer these advertisements and web sites give is not even the first question you have! The first question should be, what is Medicare, what does it cover, how will it benefit me?!
Here is what would be helpful to you, and what I try to accomplish in helping someone choose Medicare + supplemental insurance coverage when we talk on the phone or meet in person:
One (1): Medicare Explanation
I take the time to explain to you what Medicare is. We review together what Medicare Parts A and B are. Each benefit of the plans. We discuss what Medicare pays, and the amount of medical expenses left for you to pay. I also explain how to easily apply for Medicare, the timing, and when you will receive your Medicare ID card.
Two (2): Supplemental Insurance Details
We talk about the differing supplemental insurance plans to pair with Medicare available in your area. I will explain the two “supplemental avenues;” choosing a Medicare Supplement (also called “Medigap”) plan and pairing it with a Part D prescription drug plan. Or Medicare Advantage plans. We will compare the pros / cons of each.
Three (3): Prescription Coverage
We discuss, with your permission, any prescriptions you take, and the area pharmacy you utilize. Then figure how they will be covered, to help recommend the best plan. In short, we try to determine the insurance plan that will pay the most toward your prescriptions when you pick them up at your favorite pharmacy.
Four (4): Comparing Multiple Insurers
Once we determine the best plan types for your situation we can compare rates and benefits offered by all of the available insurance companies . We will price compare similar coverages to save you money, and choose the best plans. (this is the step where most insurance agents are trying to start in their sales presentation, but with only one company offered!)
Five (5): Enrolling and Confirmation
Plan choices made, we can complete the enrollment forms, either paper forms, or via online enroll (what you are most comfortable with). I get you enrolled with the insurers and confirm with you the coverage, start date, cost, etc. I then work to make sure you receive the correct policies, ID cards and other information before the start date of your coverage.
Six (6): Ongoing Help and Service
Last but not least, I remain as your servicing agent on the plans you choose, always available to you to answer your questions and advocate for you with the insurance companies if any problems arise. During the open enrollment period in the Fall we can work together to decide if you should make any changes in your coverage for the upcoming plan year.