Are you getting the best price for your Medicare plan?
Do you need help with long-term care (chronic illness) nursing costs? Call 843-936-0632. Speak with Doug.
We can assist you with:
- Medicare Advantage
- Prescription Drug Plans
- Medical Savings Accounts
- Special Needs Plans
- Medicare Supplement Plans
- Long-Term Care Planning
- Chronic Illness Care that Requires In-Home Nursing
Due to Medicare rules, we (and every Medicare agent in the U.S.) are required to log your approval to run quotes for you. Visit our Medicareful Quote page to mark your approval and to immediately find out pricing in your area for all Medicare products. If you do not get a product response from the form, please call us at 843-936-0632.
Medicare can be confusing as it comes in 5 Parts: A, B, C, D and E. Part A (hospital) and Part B (doctor) are managed by the federal government via standard Medicare (or original Medicare) but services are provided by private doctors and hospitals.
Part C (Medicare Advantage) has private companies providing healthcare coverage by providing Part A and Part B services, generally in a PPO or HMO format (medical savings accounts (MSA) are now offered!), and usually provide other coverage and benefits such as prescription drug, dental, and vision. Medicare Advantage is typically covered by your Part B payment and will have in-network and out-of-network choices and coverage, as well as possible co-pays, co-insurance and/or deductibles/out of pocket expenses. Part C is a good fit for those that have savings earmarked for medical expenses that can be used for out of pocket expenses. Studies show the average out of pocket each year is about $5,000 per person (this includes the $170.10 Part B monthly premium in 2022). Medical Savings Accounts are great for people who are healthy and go to the doctor once or twice a year. MSA’s provide money for you to spend as you see fit on Medicare Qualified Medical Expenses with no network.
Part D is standalone Prescription Drug Plan (PDP) coverage. A lot of Medicare Advantage plans (Part C) provide drug coverage so you may not need Part D coverage if you select Medicare Advantage. But you can get PDP by itself and/or with a Part E Medicare Supplement plan.
Part E is Medicare Supplement. These plans cover the out of pocket expenses that Part A and/or Part B do not cover. Part B and Part E monthly fees are great for those with average to high medical costs as these allow you to make a set budget and know your costs on a monthly basis.
Medicare Advantage – Part C coverage through many carriers, similar to the standard HMO and PPO coverage received while working, may provide prescription drug coverage and a bunch of other benefits including dental, vision, discounts and incentives for better health and fitness club memberships!
Medical Savings Account (MSA) – Part C High Deductible coverage, typical users add Part D (prescription drugs plan). The great benefit to this coverage is that Medicare gives you money to spend on Part A and Part B expenses as you see fit – it’s your money in the bank!
Special Needs Plans – SNP’s for chronic, institutional and dual eligible.
Medicare Supplement – Part E coverage from many carriers designed to cover the 20% that Medicare doesn’t cover in Part A and Part B expenses. Does not cover prescription drug costs.
Prescription Drug Plans (PDP) – Part D coverage through CVS/Aetna SilverScript, Wellcare and Humana and others. Can be offered with a Medicare Supplement plan.
Long Term Care (not a Medicare product) – provides financial assistance for nursing home and in-home long term care and potential asset protection.
AVAILABLE ENROLLMENT PERIODS:
Special Enrollment Period – when you leave your work to retire after age 65 and group coverage ends, you have 2 months to enroll in a Medicare Advantage plan (if you want one, and you must also be enrolled in Medicare Part A and Part B).
Open Enrollment Period (OEP) is January 1 thru March 31 – It’s time to act if you want to switch Medicare Advantage plans, or you can drop Medicare Advantage and return to Original Medicare (and add a Medicare Supplement policy if you want).
Annual Enrollment Period (AEP) October 15 thru December 7 – This period allows you to leave Original Medicare to join a Medicare Advantage plan (with or without drug coverage), join an MSA (medical savings account) or signup for a Prescription Drug Plan (PDP).
Initial Coverage Election Period – This period around the time you turn 65 – three months before, the birth month, and three months after to provide 7 months to decide to enroll in Medicare Part B and Medicare Advantage. Medical Savings Accounts (MSA) have 3 months prior to turning 65 to sign up (this has to do with the money given to you in advance into the account).
If you are 65 or older, and you have a Medicare Supplement plan, you may be paying too much. Let us help you find out. Call or make an appointment or send a request for us to contact you.
Did you know that all Medicare Supplement plans (of the same letter plan(plan F, plan G, etc…)) must offer the same basic benefits depending on the Medicare Supplement plan selected? All of the carriers are legally bound to provide the identical benefit.
The difference is price and customer service, and can change annually. Many top-rated insurance carriers can provide you Medicare Supplement coverage. You need to make sure the one you choose is maximizing your budget and providing excellent customer service. I can also provide a 14% discount for multi-members of the same household.
As an insurance broker, I can run a no obligation quote for you to see if making a change makes sense for you and I can shop many carriers for you. We also provide Medicare Advantage plans, Medical Savings Accounts, as well as Dual Enrollment Special Needs Plans (D-SNPS’s) for Medicare and Medicaid recipients.
Call us at 843-936-0632 for a personalized experience.