Five Most Common Medicare Questions Answered! Medicare Supplements, Costs, Enrollment and More!

Описание: Today we'll answer the FIVE MOST COMMON MEDICARE QUESTIONS in this Medicare explained video. Call us at iHealthBrokers today at 888-410-0344. Our services are 100% Free!

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1. How Much Does Medicare Cost?

Medicare Part A- is your hospital insurance and part of Original Medicare. Usually, you will not have a monthly premium for Medicare Part A. You’ll have a deductible that you have to meet and possibly coinsurance.

Medicare Part B- is your outpatient insurance and part of Original Medicare. You’ll be responsible for a monthly premium based on your income. For Part B, you’ll also have to meet a deductible and then you’ll be responsible for coinsurance.

Medicare Supplement Plans fill in the gaps of Original Medicare to limit your out of pocket costs. The cost of Medicare Supplements is determined by your age, plan, carrier, and state. The costs can vary quite widely. Check out the plan finder on Medicare.gov for a more narrowed down price range.

Medicare Advantage or Medicare Part C actually replaces Original Medicare entirely. Some plans actually boast a $0 monthly premium, but they’re not for everyone. Usually, they’re less expensive than supplement plans, but there are definite drawbacks.

Finally there is Part D which is your RX coverage. Plans are federally regulated, but offered by private carriers, so check out Medicare.gov for a more narrowed down price range for your needs. In addition to your monthly premium, you may be responsible for a deductible and there are copays dependent upon the tier of the medication.


2. How & When Do I Sign Up

You will most likely be automatically enrolled in Original Medicare around your 65th birthday. You’ll receive your card in the mail. If you are not automatically enrolled you have a 7 month window to do so without penalty. To enroll, contact social security.

For Medicare Supplement Plans you can sign up at any time during the year. However, if behooves you to do so during your individual enrollment period. This is the six months after you have turned 65 and enrolled in Medicare Part B.

You can sign up for Medicare Advantage and Part D during the same time you enroll in Original Medicare. You can also enroll during the annual enrollment period which is every year from Oct.15-Dec. 7.


3. What’s the Difference Between Medicare Advantage & Medicare Supplement Plans?

Medicare Supplement Plans (Medigap) & Medicare Advantage Plans (Part C) both cover the gaps of Original Medicare and limit your out of pocket costs, but they’re actually very different.

Medigap Plans offer standardized benefits and access to the wide Medicare network. There are no referrals required for specialists but they can be a little more expensive.

Medicare Advantage Plans offer a broad range of benefits (sometimes including RX coverage), but they have a much more limited HMP or PPO network. You may need a referral, but they're usually a little less expensive.



4. How Do I Get Prescription Drug Coverage?

Your two options for RX drug coverage are Part D or Part C (Medicare Advantage). Not all Part C plans offer RX coverage, so make sure you enroll in a plan that does! Remember, that if you go for more than 63 days after enrolling in Medicare without RX coverage you may be charged a late penalty.


5. What About Dental, Vision, & Hearing?

If you want a Medicare solution to dental, vision, & hearing, you’ll need to look into a Medicare Advantage Plan. However, we advise you to consider your basic and more prominent health needs first to determine whether a supplement plan or Part C is right for you. Private insurance for dental, vision, & hearing is readily available and is actually much less expensive than you think.

If you have any further questions, please feel free to contact us here at iHealthBrokers at 888-410-0344 or https://ihealthbrokers.com/


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