Medicare, how do I choose?
CMS required disclaimer - "We do not offer every plan available in your area. Currently we represent 10 organizations which offer 20 or more products in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program (SHIP) to get information on all of your options."
However, we are trained and certified on the product details of all the carriers we represent, and can explain all of your options!
So you’re eligible for Medicare?
Will you be enrolled automatically? How much will it cost? Part A? Part B?? Part C??? Part D???? Will I be penalized if I don’t enroll? What is Original Medicare? What is a Medicare Supplement? Medigap? Medicare Advantage? What if I am still working? What if my spouse is still working? Must I elect Prescription drug coverage? What happens if I don’t elect Rx coverage? What is a donut hole? (Don’t laugh, that’s a real question!) What if I have a pre-existing condition? Does my Dr accept it?
Lots of questions, I know.
There are several things to consider when enrolling in Medicare and there is no one right answer. Like selecting a home or a car you have to consider your needs, your preferences and your costs. I work with multiple Medicare Insurance Carriers so that I can assist you in making the decision that is best for you.
This Top 10 things to help you understand Medicare video is a simple and clear explanation of how Medicare works https://www.youtube.com/medicaremadeclear
But I Want Answers!
I have the answers for you but Medicare also has rules for me to follow and the first one is that if you wish to consult with me you must complete a Scope Of Appointment form 48 hours before we can discuss your options. Please check any boxes you may have questions about. I will give you a call or email, as you prefer, to follow up and set an appointment!
Call or email me and we can get the ball rolling!
Stand-alone Medicare Prescription Drug Plans
Medicare Prescription Drug Plan (PDP): A stand-alone drug plan that adds prescription drug coverage to Original Medicare, some Medicare Cost Plans, some Medicare Private-Fee-for-Service Plans, and Medicare Medical Savings Account Plans.
Medicare Advantage Plans (Part C) and Cost Plans
Medicare Health Maintenance Organization (HMO): A Medicare Advantage Plan that provides all Original Medicare Part A and Part B health coverage and sometimes covers Part D prescription drug coverage. In most HMOs, you can only get your care from doctors or hospitals in the plan’s network (except in emergencies).
Medicare Preferred Provider Organization (PPO) Plan: A Medicare Advantage Plan that provides all Original Medicare Part A and Part B health coverage and sometimes covers Part D prescription drug coverage. PPOs have network doctors and hospitals but you can also use out-of-network providers, usually at a higher cost.
Medicare Private Fee-For-Service (PFFS) Plan: A Medicare Advantage Plan in which you may go to any Medicare-approved doctor, hospital and provider that accepts the plan’s payment, terms and conditions and agrees to treat you – not all providers will. If you join a PFFS Plan that has a network you can see any of the network providers who have agreed to always treat plan members. You will usually pay more to see out-of-network providers.
Medicare Point of Service (POS) Plan: A type of Medicare Advantage Plan available in a local or regional area which combines the best feature of an HMO with an out-of-network benefit. Like the HMO, members are required to designate an in-network physician to be the primary health care provider. You can use doctors, hospitals, and providers outside of the network for an additional cost.
Medicare Special Needs Plan (SNP): A Medicare Advantage Plan that has a benefit package designed for people with special health care needs. Examples of the specific groups served include people who have both Medicare and Medicaid, people who reside in nursing homes, and people who have certain chronic medical conditions.
Medicare Medical Savings Account (MSA) Plan: MSA Plans combine a high deductible health plan with a bank account. The plan deposits money from Medicare into the account. You can use it to pay your medical expenses until your deductible is met.
Medicare Cost Plan: In a Medicare Cost Plan, you can go to providers both in and out of network. If you get services outside of the plan’s network, your Medicare-covered services will be paid for under Original Medicare but you will be responsible for Medicare coinsurance and deductibles.
Medicare Medicaid Plan (MMP): An MMP is a private health plan designed to provide integrated and coordinated Medicare and Medicaid benefits for dual eligible Medicare beneficiaries.
Dental/Vision/Hearing Products
Plans offering additional benefits for consumers who are looking to cover needs for dental, vision or hearing. These plans are not affiliated or connected to Medicare.
Hospital Indemnity Products
Plans offering additional benefits; payable to consumers based upon their medical utilization; sometimes used to defray copays/coinsurance. These plans are not affiliated or connected to Medicare.
Medicare Supplement (Medigap) Products
Plans offering a supplemental policy to fill “gaps” in Original Medicare coverage. A Medigap policy typically pays some or all of the deductible and coinsurance amounts applicable to Medicare-covered services, and sometimes covers items and services that are not covered by Medicare, such as care outside of the country. These plans are not affiliated or connected to Medicare.