One in three seniors enrolled in Medicare doesn’t understand the government program, according to a recent survey1. And those are just the ones who admit to it. Additionally, there is confusion even among those who said they were well educated about the program.
That’s where we come in. Whether you’re new to Medicare or considering switching plans, we have answers. We help Medicare beneficiaries sort through the confusion, the bombardment of mailings and television advertisements that hit every Fall and when you approach your 65th birthday.
We take time to explain how Medicare works—Part A, Part B, Part C, Part D and the difference between Medicare Supplement and Medicare Advantage plans. We know that if you don’t understand your coverage, you’re probably not going to be satisfied
As an independent agency we have access to pricing and benefits from all carriers. For Medicare Part D Rx plans, we sort through the dozens of plans available using your specific prescription needs and your preferred pharmacy to find the most optimal plan for you.
Nearly 30 percent of the seniors surveyed who said they understood at least the majority of Medicare were unable to identify their Medicare path or coverage types1. Let us help you through the process and provide you the guidance and answers you need.
10 Key Facts About Medicare2
- There are two main ways to get Medicare.
- You can choose Original Medicare (Parts A and B), which is provided by the federal government.
- Or choose a Medicare Advantage plan (Part C). These plans are offered through private insurance companies.
- With Original Medicare, you’ll pay a share of the cost.
- You contributed to Medicare by paying taxes. That’s why you’re eligible for Medicare when you turn 65.
- Original Medicare doesn’t pay for everything. You still pay a share of the cost in monthly premiums and copays.
- Medicare supplement insurance helps control out-of-pocket costs. If you need a lot of medical care, you may end up with big bills. Medicare supplement insurance plans help with some of the expenses Medicare Parts A and B don’t pay, like copays and deductibles.
- Prescription drug coverage helps limit drug costs.
As a Medicare member you can get optional prescription drug coverage (Part D).
- You can enroll in a stand-alone Part D plan to go with your Original Medicare coverage.
- Or you can enroll in a Medicare Advantage plan that includes prescription drug coverage.
- Know the choices in your state.
- Original Medicare (Parts A and B) is the same across the United States.
- Medicare Advantage (Part C) and prescription drug (Part D) plans are offered by private insurance companies and may be available only in certain counties, states or regions.
- Medicare supplement policies offer nationwide coverage and are available by state.
- Enroll at the right time.
The Initial Enrollment Period (IEP) is your first chance to enroll in Medicare. It’s the three months before your 65th birthday month, the month of your birthday, and the three months after your birthday month.
- If you enroll before the month you turn 65, coverage starts on the first day of your birthday month.
- If you enroll during your birthday month or later, coverage starts on the first day of the month following the date you enroll.
- Review your choices once a year. After you choose your Medicare coverage, you can make changes each year during the Medicare Open Enrollment Period (OEP), October 15 through December 7. Review your coverage to see if it still fits your needs.
- Special Election Period (SEP).
In some cases you may be able to enroll in, or switch, plans outside of the IEP and OEP. This includes changes in your life situation, such as:
- You retire and leave a health care plan through your employer or union.
- You move out of your current health plan’s service area.
- Review your current coverage. For example, if you have group coverage from your job, or retiree insurance from a former employer, you’ll want to see how it fits with Medicare.
- Help is available. Medicare can be complicated, but help is available. You may even qualify for financial help.
1. www.65incorporated.com, a startup focused on educating the Medicare-eligible population about the program, used an outside company to conduct an online survey of nearly 900 aged 65-plus Americans enrolled in Medicare.
2. Source: www.medicaremadeclear.com