Congratulations, you’re eligible for Medicare!
Now what?
Medicare was never intended to cover all your health care costs.
What options do you have to help cover what Medicare doesn’t?
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Medicare Select Plans: Are They Better than Standard Medicare Supplements?
Today, we’re looking at Medicare Select plans: what they are, and how they may be beneficial to you.
I always say that finding the best plan for you depends on your unique situation, and that is really true in the case of Medicare Select.
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Medicare Select plans are Medicare Supplements. The Select plans go back to the early 1990s, when they were first available in only 15 states. By the end of the 90s, they were available everywhere, in theory, but different states implemented them differently. -
Medicare Supplement High Deductible Plan G: Can It Save You Money?
High Deductible Medicare Supplements
Today, we’re talking about Medicare Supplements, and one in particular: High Deductible Plan G. However, the very first high deductible Medicare Supplement plan was High Deductible Plan F.
If your Medicare Parts A and B effective dates are before January 1, 2020, a High Deductible Plan F is still available to you as an option, but for anyone with Medicare Parts A and B effective dates of January 1, 2020 or later, High Deductible Plan F is not available.The reason for that is the Medicare Access and CHIP Reauthorization Act of 2015, which prohibited Medicare plans from covering the Medicare Part B outpatient annual deductible for all enrollees starting on Medicare January 1, 2020 or later.
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Scope of Appointment Form: What is it And Why do You Need to Sign it?
If you talk with an agent or broker about certain Medicare plans, you’ll need to sign a Scope of Appointment form. What is it, and why do you have to sign it?Confused about your Medicare coverage options?
Required by Medicare
The Medicare Scope of Appointment is a form that insurance agents AND Medicare beneficiaries have to sign before an appointment to discuss certain types of Medicare plans. It serves as a written agreement, prior to an appointment, of which types of plans the agent and the Medicare beneficiary are going to discuss during the appointment.
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Medicare Part D and IRMAA
Income Related Monthly Adjustment Amount (IRMAA)
In an earlier video, we talked about how IRMAA, that’s the Income Related Monthly Adjustment Amount, can affect your Medicare Part B premium, depending on your income. IRMAA also affects Medicare Part D prescription drug coverage costs.
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Most people don’t have to pay this amount. However, if your income is above a certain limit, you’ll pay an extra amount in addition to your Medicare Part D plan premium. You’ll also have to pay this extra amount if you’re in a Medicare Advantage plan that includes Medicare Part D prescription drug coverage. -
Medicare Supplement Basics: How Do They Work And How Much Do They Cost?
We’re talking about Medicare Supplements, also known as Medigap plans. These plans work with Original Medicare and do exactly what their name says. They fill in the gaps in Medicare Parts A and B, those deductibles, co-pays, and co-insurance amounts that would otherwise be your financial responsibility. Confused about your Medicare coverage options?
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Medicare Basics: How Does Medicare Work? What Does It Cover? What Other Health Insurance Do You Need?
For most people who have been covered for their entire working lives under employer group health coverage, Medicare is the first time where you really have to go off on your own and figure out which available coverage is best for you, so this video is going to be a brief overview of the Medicare program to help you on that path. Confused about your Medicare coverage options?
For any answers to specific questions regarding your unique situation and your location, because the plans do vary depending on where you live, please give our office a call at 877-312-1414. A licensed, experienced broker will be happy to assist you.
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Medicare Advantage/MAPD Basics: Is a Medicare Advantage Plan the Best Option for You?
When choosing what route to go for your Medicare coverage, it’s important to always look at both the positives and the negatives of all available plans. This is meant to briefly summarize the things to look at when you are considering a Medicare Advantage plan.
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If you have questions that aren’t answered here, please send us an email or call our office at 877-312-1414, and we’ll be happy to assist you. -
Medicare Supplement vs Medicare Advantage: Which is Best for You?
On Medicare, you have two main options to choose from for your coverage. One is Original Medicare Parts A and B plus a Medicare Supplement and possibly a Part D prescription drug plan. The other option is a Medicare Advantage plan, many of which include Part D prescription drug coverage.
There is no one-size-fits-all plan. It’s important to be educated about the available options so you can make an informed choice and enroll in a plan that fits your needs. Confused about your Medicare coverage options?
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Can I Change Medicare Supplement Plans?
Am I stuck with my current Medicare Supplement?
That’s a question we hear a lot. The answer is: no, you are never stuck in a Medicare Supplement plan. You always have options.
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The rules that apply to Medicare Advantage and Medicare Part D enrollments and plan changes do not apply to Medicare Supplements.
Medicare Supplements are month-to-month contracts. You are free to change your Medicare Supplement anytime during the year.
Meet Tabitha Moldenhauer
Licensed health and life insurance broker since 2005 proudly serving 34 states