1.What is Medicare?
Medicare is the federal health insurance program for:
- People who are 65 or older
- Certain younger people with disabilities
- People with End-Stage Renal Disease (permanent kidney failure requiring dialysis or a transplant, sometimes called ESRD)
2.I already have Medicare. Why do I need a Medicare Advantage or Medicare
Supplement Plan?
First, letʼs understand Traditional Medicare which includes 2 parts.
Medicare Part A covers inpatient hospital and skilled nursing facility care.
Medicare Part B covers outpatient services. Prescription drugs (Part D) coverage
and extra benefits such as Dental, Vision, etc are not covered in Traditional
Medicare. Moreover, Traditional Medicare comes with out of pocket costs that are
significantly high for most people. This is where Medicare Advantage plans, also
called Part C, and Medicare Supplement Plans can help
3.I am not retiring at age 65 and will continue to work. Do I still need to enroll in
Medicare?
You should first check with your employer benefit administrator to
understand their rules around enrollment in Medicare. In general, most employers
will require that if you continue the health plan benefits that they are offering, you
should enroll into Medicare Part A until the time you actually retire and enroll into
Part B. You should also consider comparing your employerʼs health plan costs
(premium, cost share, etc.) to what you could pay and receive if you were to optout of it and enroll in both Medicare Part A/B and select a Medicare Advantage or
Supplement Plan.
4.Do I need an agent or broker to enroll in a Medicare Advantage or Medicare Supplement Plan?
While you do not need an agent to enroll in a Medicare Health Plan, it is
wise to have one to help you answer your questions and confirm that the plan you
select works best for you. Agents, like myself, try to get to know you better,
understand your needs in detail, and also give you some things to think about
based on experience and the community where you live in. They can be a long
term resource for you during the duration of your plan enrollment.
5.Do I need to enroll in Medicare Part D when I become eligible for Medicare?
No, but you may be subject to a Late Enrollment Penalty on your Medicare Part D premium if you do not have creditable prescription drug coverage.
6.Does it cost anything to meet or talk with you?
Absolutely NOT. It is free to meet or consult with me. I can meet face to
face in many cases, meet virtually, or we can talk over the phone. Please
schedule some time here or let me call you back. Book an Appointment