Medicare Knowledge
When it comes to Medicare, it can be confusing and overwhelming for some people but...
Here at Insurance Benefits of America, our knowledgeable agents work hard to streamline the process and keep it as simple as possible for our clients.
We are here working around the clock to answer any questions you may have and find an option that fits your exact needs.
Contact one of our representative's today to assist you with any of your insurance needs!
What is Medicare & When Do I Qualify?
Medicare is health insurance through the federal government for people 65 or older. You may be eligible to get Medicare early if you have a disability, End-Stage Renal Disease (ESRD), or ALS (also called Lou Gehrig’s disease). Many individuals get Medicare automatically, others have to actively sign up. It depends if you start getting retirement or disability benefits from Social Security before you turn 65.
Generally, you’re first eligible to sign up for Original Medicare (Part A and Part B) starting 3 months before you turn 65 and ending 3 months after the month you turn 65. Contact one of our agents today to help walk you through the process!
What is Part A & Part B?
Original Medicare Consists of Two Parts:
Part A
Part A is your Hospital insurance.
It provides coverage for inpatient hospital stays, skilled nursing facility care, hospice care, and some home healthcare.
Most people don't pay a premium for Part A.
Part B
Part B is your Medical insurance.
It provides coverage for certain doctor's services, outpatient care, medical supplies, and preventative services. Most people do pay a premium for Part B, but there are programs available to help lower your costs based on your income.
Medicare Supplements (Medigap)
Medicare Supplements, also known as Medigap, are secondary to your Original Medicare Parts A & B and help cover the “gaps” in coverage.
There are many holes in Original Medicare, so private insurance companies offer supplemental plans you can purchase to help cover what Original Medicare will not cover.
Pros
Very good coverage and can be used anywhere in the country Original Medicare is accepted (no networks)
Cons
More expensive and you must purchase a separate prescription drug plan (Part D) if you want to have coverage for medications. Also, if you want to have coverage for dental, vision and/or hearing services you will need to purchase a stand-alone policy for these benefits.
The purpose of this communication is the solicitation of insurance. Contact may be made by an insurance agent/producer or insurance company. Medicare Supplement insurance plans are not connected with or endorsed by the U.S. government or the federal Medicare program.
What is Medicare & When Do I Qualify?
Your Medicare Supplement Open Enrollment Period is a 7-month window around your 65th birthday. It starts three months before your birthday month and ends three months after. Your Open Enrollment Period gives you guaranteed issue rights to any Medicare Supplement you want. You won’t need to pass medical underwriting during this time, and the insurance carrier can’t charge you higher premiums due to your health history. You can contact one of our agents today to see if a Medicare Supplement is the right fit for you situation!