Medicare 101 Basics

Making Medicare Easy

Helping People

Empowering Agents

Overview of Medicare Basics

  • Medicare Part A Hospital Insurance

  • Medicare Part B Medical Insurance

  • Medicare Part C Medicare Advantage

  • Medicare Part D Prescription Insurance

  • Medicare Supplements Or “Medigap Plans”

*By clicking on this link you will be entering a consumer facing plan finder site, this will allow you to research plans at your convenience.  If you need any assistance please call me.

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Medicare Premium Costs

  • Part A Usually No Premiums By Merit of 40 Quarters of Payroll Taxes (10 YEARS). Deductible is now $1556.

  • Part B $170.10/Mo. Most Beneficiaries. Can Cost More or Less Depending On Income. Deductible is now $233.

  • Part C Varies By County, Sometimes ZIP Codes $0-$100/Month (Must Continue to Pay Part B Premiums If Applicable)

  • Part D $7-$100/Month

  • Medicare Supplements($100-$300/month or more) Age, Sex, Zip code, Health Conditions, Tobacco Use (Only Works with “Original Medicare” Part A & Part B)

Call me for the latest Medicare Supplement Rates!

Medicare Basics Breakdown

 
 

Original Medicare Gaps (Parts A& B)

  • Part A Deductible $1556 Per Stay 0-60 Days

  • Part A SNF Days 0-20, Copay Days 21-100

  • Part B Deductible $233 (Annual)

  • Part B Co-Insurance 20%

  • Part B Excess Charges 15%

  • No Maximum Out of Pocket!!!

  • (Buy A Medigap!)

*By clicking on this link you will be entering a consumer facing plan finder site, this will allow you to research plans at your convenience.  If you need any assistance please call me.

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Medicare Advantage Plans
(Private Companies Part C)

  • Little Or No Monthly Premium

  • HMO, PPO, PFFS, Cost Plans

  • Vary by County/Zip Code Sometimes

  • Usually Network Based

  • Most Plans Include Part D Coverage Built Right In

  • All in One Plan

  • Usually Dental, Vision, Hearing, OTC Included.  Sometimes Transportation, Personal Alert Response Items, Etc.

Medicare Part D (RX)

  • Monthly Premiums $7-$90 Per Month

  • Deductibles, Co-pays, Co-Insurances

  • Formulary (List of Covered Medications)

  • Works Only With Original Medicare OR a Cost Plan

  • With or Without A Medi Gap

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Which Option is Best For Me?

 

Original Medicare

  • ANY Doctor Or Hospital In the United States

  • NO Referral Needed to See A Specialist

  • May Want To Purchase A Medicare

  • Supplement & Part D Plan

  • No Maximum Out Of Pocket Protection Limits

  • No Dental, Vision, Hearing, OTC, Etc.

Call me for the most current Medicare Supplement Rates!

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Medicare Advantage Plans
(Private Companies Part C)

  • Most Plans Network Based

  • Most Plans $0 Monthly Premium

  • May Include Dental, Vision, Hearing, OTC, Etc.

  • Maximum Out Of Pocket Protection limits $2500 - $5000 (Depending on Market)

Medicare Enrollment Periods

 

 Enrollment Dates:

  • AEP October 15-December 7

  • OEP January 1-March 31

  • Lock In April 1-December 31

  • SEP Varies Over 25 SEP!

  • IEP/ICEP The Month Of, 3 Months Before, 3 Months After

*By clicking on this link you will be entering a consumer facing plan finder site, this will allow you to research plans at your convenience.  If you need any assistance please call me.

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Medicare is a Huge Part for Retirement Planning

 
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Questions to Ask Yourself

Does It Cover My Long Term Care Expenses?

Will It Cover Home Health Care?

What If I Need A Private Nurse?

How Does Medicaid Play Into All Of This?

When is the last time you spoke to your agent?
 

By clicking on this link you will be entering a consumer facing plan finder site, this will allow you to research plans at your convenience.  If you need any assistance please call me.