Need an Independent Insurance Broker? Someone who can shop around and get you one of the best possible deals in your area? You are in the right place.
Navigating the intricate world of Medicare can often feel overwhelming, but with the right Medicare broker by your side, you can uncover a wealth of options tailored to your needs. Brokers are equipped to simplify the process, ensuring you understand every detail and make informed decisions about your healthcare.
Original Medicare consists of two main parts: Part A and Part B. A Medicare Broker will assist you choose a plan that better fits your needs.
– Part A (Hospital Insurance) covers inpatient hospital stays, skilled nursing facility care, hospice care, and some home health care. Most people do not pay a premium for Part A if they or their spouse paid Medicare taxes while working for 10 years.
– Part B (Medical Insurance) covers outpatient care, doctor visits, preventive services, and some home health care. Part B typically requires a monthly premium, which can vary based on income.
Together, these two parts provide a broad range of healthcare coverage, but they do not cover everything. For example, they do not cover most dental care, eye exams for glasses, or long-term care. Many beneficiaries choose to purchase additional coverage, such as a Medicare Advantage plan (Part C) or a Medicare Supplement plan (Medigap), to help cover costs not included in Original Medicare.
Medicare Advantage is a type of health insurance plan that provides an alternative way for individuals to receive their Medicare benefits. These plans are offered by private insurance companies that are approved by Medicare. A Medicare Broker will let you know if this plan is right for you.
Coverage: Medicare Advantage plans typically cover all the services that Original Medicare (Part A and Part B) covers, and many plans also offer additional benefits such as vision, dental, hearing, and wellness programs.
Costs: Medicare Advantage plans often have lower premiums than Original Medicare, but they may have different out-of-pocket costs, such as copayments and deductibles. Some plans may have a $0 monthly premium.
Enrollment: Individuals can enroll in a Medicare Advantage plan during the Initial Enrollment Period when they first become eligible for Medicare, during the Annual Enrollment Period (October 15 to December 7), or during certain Special Enrollment Periods.
Types of Plans: Health Maintenance Organizations (HMOs), Preferred Provider Organizations (PPOs), and Special Needs Plans (SNPs).
It’s important for beneficiaries to compare different Medicare Advantage plans to find one that best meets their healthcare needs and budget.
Eligibility: Anyone who is eligible for Medicare can enroll in a PDP. This includes individuals who are 65 years or older, as well as younger individuals with certain disabilities or conditions.
Enrollment: Beneficiaries can enroll in a PDP during the Initial Enrollment Period (IEP), which is the 7-month period that includes the three months before, the month of, and the three months after their 65th birthday. There are also annual enrollment periods, such as the Annual Enrollment Period (AEP) from October 15 to December 7 each year, when beneficiaries can switch plans or enroll for the first time.
Coverage: PDPs provide coverage for a variety of prescription medications, but the specific drugs covered can vary by plan. Each plan has a formulary, which is a list of covered drugs, and may have different tiers that affect the cost of medications.
Costs: Beneficiaries typically pay a monthly premium for their PDP, as well as copayments or coinsurance for each prescription filled.
Some of the Plans above includes Part D and a Medicare Broker can help you find which plans that includes Prescription Drugs.
Affordable Care Act (ACA), also known as Obamacare, is a healthcare option where Its primary goals are to expand health insurance coverage and control healthcare costs. It's a good idea if you just lost your job or are self-employed.
Flex cards are typically prepaid debit cards that contain monthly/quarterly allowances for OTC Medications, drugstore items, copays, healthy foods, meal delivery and transportation. This card is issued by Medicare Advantage plans, not the government.
There are some Medicare Advantage plans that give you free rides using uber, Lyft, taxis, Vans, and even Wheelchair-equipped vehicles to get to your doctor appointments, pharmacies, and sometimes can be used for getting groceries.
You can get a Dental Vision Hearing plans at no extra cost with Medicare Advantage. This would include your typical preventive dental and comprehensive services, Eye Exams and frames for free. There are also some plans that give you hearing aids for free.