Whether you’re new to Medicare or you’ve had coverage for years, ensuring you have the right coverage for your stage of life can be overwhelming. We’re here to walk alongside you to help answer your Medicare questions and make an informed decision. Our team of trusted advisors has the Medicare expertise to help educate you on your options and guide you in finding the best coverage.
Below are some of the frequent questions we hear from beneficiaries exploring their Medicare options. If you have more questions, we’d love to sit down and talk with you!
What is Medicare?
Medicare is a federally-administered health insurance program. There are two main parts of Medicare – Part A (Hospital) and Part B (Medical) – with each covering certain healthcare costs
What is Medicare Advantage?
Medicare Advantage is a type of Medicare plan administrated by private insurance companies who contract with Medicare to provide Part A and Part B coverage, as well as other benefits such as prescription coverage. Many plans also offer additional benefits such as dental, vision, hearing and more.
Who is eligible for Medicare?
Individuals who are 65 or older are eligible for Medicare, as well as some younger individuals with disabilities or End-Stage Renal Disease.
What is Medicare Part D?
Medicare Part D provides coverage for prescriptions drug costs and can be purchased individually or as part of a Medicare Advantage Plan.
When can I enroll in Medicare?
There are four enrollment periods for Medicare.
1) Initial Enrollment Period – begins 3 months before your 65th birthday and ends 3 months after the month that you turn 65.
2) Annual Enrollment Period – begins October 15 and ends December 7 each year.
3) Open Enrollment Period – allows you to make a one time change to your Medicare Advantage Plan from January 1 through March 31
4) Special Enrollment Periods – are available under certain circumstances throughout the year, such as moving out of your existing plan’s service area or retiring from a job that previously provided your benefits.
What are my Medicare options if I have employer coverage?
There are many Medicare options available for individuals who have employer coverage, but the right choice for you is dependent on a variety of factors. A trusted advisor can complete a needs analysis to help you determine how to get the best coverage at the right cost.