Medicare Insurance

Medicare Advantage

Medicare Part C

Let me help you simplify your Medicare insurance coverage. A Medicare Advantage plan combines hospital, doctor, and prescription drug coverage. These compact plans may also include other benefits not offered through original Medicare.

Medicare has 4 PARTS:

• Part A –  Part A is PREMIUM FREE if you meet certain qualifications.  The government requires that you have worked a minimum of 40 quarters (10 years) or are married to someone who worked 40 quarters, that you are 65 or older, or qualify for Medicare due to a disability or certain health conditions.  Part A covers inpatient hospital stays, skilled nursing stays, home health and hospice.   There could be significant copays and costs to you under Part A.  A Medicare Supplement or Medicare Advantage Plan can help you with these costs.”
• Part B – This part is optional but very necessary. Wise folks take this as soon as they are able. There is a charge for Part B and that charge is based on you income level.

  “The standard rate for 2023 is $164.90.  The Part B premium can change every year.”

• This part covers the doctors costs. There is a small annual deductible then an 80% – 20% copay. Thank God Medicare pays the 80%, but I’ve seen the 20% bankrupt people. Another good reason to have a Medicare supplement or Medicare Advantage. For more information on part B click Here.
• Part C – Also know as a Medicare Advantage program or MA or MAPD plan. This will be covered in a different tab. But you need to know this, by law, you cannot have both a Medicare Supplement and a Medicare Advantage program.
• Part D –  “In 2023 there are 4 phases to every drug plan:  Deductible Phase, Initial Coverage Phase, Donut Hole Phase and Catastrophic Phase (the Catastrophic Phase will go away in 2024 due to the Inflation Reduction Act).  In each phase you are responsible for either a deductible, copay or coinsurance. If you are taking expensive medications, this could translate to high out of pocket costs to you”.
• For more information regarding part D click Here.
• YOU might qualify for EXTRA HELP for Part D. The basic guidelines in 2022 are; if your income is under $20,385 a year ($27465 for a married couple) and less than $14,390 in resources ($28,720 for a married couple), you would qualify for assistance with the cost of your prescription drugs.

Need more predictable out-of-pocket costs? I can enroll you in a Medicare supplement plan that can help fill the gaps in your Medicare Part A and B coverage, so there are fewer surprise expenses. There are cost for this Plans!

Medicare Supplement plans are private insurance plans that pick up some of the deductibles and coinsurance you would be responsible to pay for under Original Medicare Part A and Part B.  Medicare Supplements plans are “STANDARDIZED” , meaning a plan G or a plan N offers the same coverage no matter what company you purchase it from.  What can change is the premium you pay, which will differ from company to company.

Medicare Part D

I can help you better manage your prescription expenses with a Medicare Part D prescription drug plan.