When is the Medicare Annual Enrollment Period… and why is it important to you? The Medicare Annual Enrollment period runs from October 15th through December 7th each year. The Annual Enrollment Period is only extended beyond December 7th when FEMA declares an emergency or a major disaster in your area that would make sign up difficult.

Each September - before the AEP period begins - you’ll receive an Annual Notice of Change letter detailing the changes in your coverage for the following year. Being aware of the Annual Enrollment window is important, because it gives you the opportunity to reevaluate your current coverage and decide whether to change it. Any changes you make during the AEP go into effect on January 1st of the following year.

For example, you can switch from Original Medicare to a Medicare Advantage program that may provide additional coverage that Original Medicare does not. You also have the option to switch from one Medicare Advantage program to another for increased benefits. If Original Medicare coverage changes, you can even switch back to Original Medicare, or just update your Part D drug plan to take advantage of price changes in prescription drugs.

As you can see, there’s a lot to know about Medicare Annual Enrollment. To make sure you get all the Medicare benefits you deserve, call us today.

Medicare Supplement plans – also known as Medigap plans – are designed to cover some of the costs that Original Medicare doesn’t. These costs include things like copayments, coinsurance and deductibles. Some Medigap plans also offer certain benefits that Original Medicare doesn’t like emergency foreign travel expenses. Medigap plans don’t cover your costs under other health plans – including Medicare Advantage Plans – but only the costs that Original Medicare doesn’t cover.

Here’s how it works. If you have Original Medicare and a Medigap policy, Medicare will pay its share of the Medicare-approved amount for a covered service. Then, your Medigap policy pays its share. But Medicare doesn’t pay any of the costs of purchasing the policy.

Medigap Plans differ from Medicare Advantage Plans in an important way. Medicare Advantage Plans are just an alternative way to get your Medicare Plan A and B benefits. Medigap Plans are solely designed to cover costs that Original Medicare doesn’t cover. In fact, insurance companies generally can’t sell you a Medigap Plan if you are already covered by a Medicare Advantage Plan or Medicaid. Medigap Plans are required to follow all federal and state consumer protection laws and policies must be clearly identified as “Medicare Supplement Insurance.” Medigap Plans in most states are standardized, and identified by Plan letters A through N. Each standardized state Medigap plan under the same plan letter must offer the same basic benefits, no matter what insurance company sells it. Usually, the only difference between Medigap policies with the same plan letter is the cost charged by different insurance companies… so you can comparison shop!

Need help with choosing the right Medigap plan for you? Call us for no obligation consultation today.

Medicare Advantage plans are an alternative to basic - or so-called Original - Medicare. Sometimes referred to as Medicare Part C or MA Plans, they are offered by Medicare-approved private companies. They must follow Medicare rules and provide Medicare Part A and B coverage. Most Medicare Advantage Plans also include Part D drug coverage.

In many cases, you can obtain the lowest plan rates by using an in-network provider in your area. Some plans do have an out-of-network option, but it will sometimes be at higher cost. An attractive benefit of Medicare Advantage plans is that they set a limit on the amount you pay out-of-pocket for covered services annually, which helps protect you from unexpected expenses.

When seeking treatment, you must present your Medicare Advantage card to receive Medicare covered treatment.

The most common types of Medicare Advantage plans are Health Maintenance Organization or HMO Plans, Preferred Provider Organization or PPO Plans, Private-Fee-For-Service or PFFS Plans, Special Needs Plans or SNPs. Each type has its own set of benefits, costs and limitations, so be sure to research your choice carefully. But no matter what plan you choose, do not discard your red, white and blue Medicare card, because you’ll need it if you ever decide to switch back to Original Medicare.

Need help deciding on the right Medicare Advantage plan for you? Call us for a no obligation Medicare consultation today.

To get the most out of your Medicare coverage, it’s important to understand what the different parts of the Medicare program provide and what the cost is to you. The Medicare program consists of three parts: Part A - Hospital Insurance, Part B - Medical Insurance and Part D - Prescription Drug Coverage.

Let’s talk about Medicare Part B - Medical Insurance. Part B covers outpatient care like doctor visits and lab tests. The premium for Part B Medicare is determined by your income. The amount can change each year and you pay this premium monthly, even if you don’t receive any Part B services. You pay a Part B deductible once a year before Medicare begins to pay. Once you’ve met your deductible, you’ll pay 20% of the cost of any Medicare-covered services or items.

If you don’t sign up for Part B coverage when you first become eligible for Medicare, usually at age 65, your monthly premium could go up 10% for every 12-month period without Part B coverage. You’ll have to pay this late enrollment penalty each time you pay your premium for as long as you have Part B, and the penalty increases the longer you go without Part B coverage.

As you can see, there’s a lot to know about Medicare, so why not get some help with your Medicare plan? Call us today to make sure you get the all the benefits from Medicare that you deserve.

To get the most out of your Medicare coverage, it’s important to understand what the different parts of the Medicare program provide and what the cost is to you. You become eligible for Medicare coverage when you turn 65.

The Medicare program consists of three parts: Part A - Hospital Insurance, Part B - Medical Insurance and Part D - Prescription Drug Coverage. Let’s begin with Part A – Hospital Insurance. For most people, you pay no premium for Part A hospital coverage, because you’ve been working at least 10 years and paying Medicare taxes.

You pay a deductible each time you’re admitted to the hospital per benefit period before Medicare begins to pay. The benefit period ends after you have received no inpatient treatment for 60 consecutive days. While there is no limit to the number of benefit periods you can have, you must pay the inpatient hospital deductible each time a new benefit period begins.

The costs for inpatient hospital stays are calculated this way: For Days 1-60 you pay $0… after you pay your Part A deductible. For Days 61-90 and Days 91-150, you pay an increasing amount for each segment, while using your 60 lifetime reserve days. After day 150 you pay all costs.

As you can see, there’s a lot to know about Medicare, so why not get some help with your Medicare plan? Call us today to make sure you get the all the benefits from Medicare that you deserve.

Most Americans who turn 65 are eligible for Medicare, a federal program that covers many health expenses for seniors. But the program is complicated. Here are 5 important facts you need to know:

First - Medicare is not free. Of the 4 parts, Part A - Hospital Insurance - is the only one that normally has no premium. Parts B, C and D have premiums that vary.

Second - Enrollment is not automatic - you have to sign up for Medicare benefits. The exception is for those already receiving Social Security benefits. If you’re already receiving Social Security benefits, you will automatically receive Medicare Parts A and B.

Third - Late enrollment can mean expensive, and permanent, premium penalties. You have 7 months, starting 3 months before your 65th birthday month, to sign up penalty-free.

Fourth - Medicare covers a lot, but not everything. Services like long-term care, dental and vision care are not covered. People often purchase additional private coverage for these types of services.

And fifth, if you’re rich, you’ll pay more. High-income seniors pay surcharges on premiums for both Parts B and D.

Let us help you with your important Medicare decisions - give us a call or visit our website today!