At IIC, we offer a variety of helpful services for our clients. We are an authorized representative for many of the Medicare Insurance companies. Independent Insurance Consultants will find you the best solution for your Medicare needs and explain to you the difference between a Medicare Supplement and a Medicare Advantage Plan.
For More Information please watch the following videos brought to you by Medicare Made Clear YouTube Channel
- Top 10 Medicare Insurance Tips
- Guide to Part A and Part B
- How to understand Medicare Plans
- Medicare Part D and Prescription Drugs
*See recent Shopper News editorial here – How to unravel the Medicare Mysteries -Written by Anne Hart
Medicare raises many questions for beneficiaries such as:
What is Part A (Hospital Insurance), how do I get it and how much does it cost? Part A is hospital insurance that helps cover inpatient care in hospitals, skilled nursing facility, hospice, and home health care.
How Much Does Part A Cost? Most people don’t pay a Part A premium because they paid Medicare taxes while working. This is called “premium-free Part A.”
What is Part B (Medical Insurance), what does it cover, how much does it cost? Part B helps cover medically-necessary services like doctors’ services, outpatient care, home health services, and other medical services. Part B also covers some preventive services.
How Much Does Part B Cost? If you have Part B, you pay a Part B premium each month. Most people will pay the standard premium each month, but some may pay more depending on their income. If you don’t sign up for Part B when you are first eligible, you may have to pay a late enrollment penalty.
What is a Medicare Advantage Plan (Part C)? A Medicare Advantage Plan (like an HMO or PPO) is another Medicare health plan choice you may have as part of Medicare. Medicare Advantage Plans, sometimes called “Part C” or “MA Plans,” are offered by private companies approved by Medicare.
If you join a Medicare Advantage Plan, the plan will provide all of your Part A (Hospital Insurance) and Part B (Medical Insurance) coverage. Medicare Advantage Plans may offer extra coverage, such as vision, hearing, dental, and/or health and wellness programs.
Most include Medicare prescription drug coverage (Part D). Medicare pays a fixed amount for your care every month to the companies offering Medicare Advantage Plans. These companies must follow rules set by Medicare. However, each Medicare Advantage Plan can charge different out-of-pocket costs and have different rules for how you get services (like whether you need a referral to see a specialist or if you have to go to only doctors, facilities, or suppliers that belong to the plan for non-emergency or non-urgent care). These rules can change each year.
How much does a Medicare Advantage plan cost? In addition to your Part B premium, you usually pay one monthly premium for the services included. Each Medicare Advantage Plan can charge different out of-pocket cost.
Medicare Prescription Drug Coverage (Part D) Medicare offers prescription drug coverage to everyone with Medicare. If you decide not to join a Medicare drug plan when you’re first eligible, and you don’t have other creditable prescription drug coverage, or you don’t get Extra Help, you’ll likely pay a late enrollment penalty. To get Medicare prescription drug coverage, you must join a plan run by an insurance company or other private company approved by Medicare. Each plan can vary in cost and drugs covered.
*When Can You Join a Medicare Drug Plan? Between October 15 – December 7, anyone can join, switch, or drop a Medicare drug plan. The change will take effect on January 1 as long as the plan gets your request by December 7.
You can find the Medicare & You 2013 book HERE
Independent Insurance Consultants is not endorsed by Medicare or any other Government Agency