Turning 65? Here is What You May Need to Know...
Following are 3 Easy Steps to Understanding Your Medicare Options:
1. Don't Miss Your Initial Election Period
When turning 65, you are eligible for what is called the "Initial Election Period." Here is why that is so important:
During your Initial Election Period, beginning 6 months before you turn 65, you are eligible to get a Medicare Supplement Plan... Guaranteed Issue.
What this means is that you cannot be denied coverage for any reason (except if you have kidney failure).
Practically speaking, you could be overweight, with advanced diabetes, or even on your deathbed with a dread disease, and you cannot be turned down.
When your Initial Election Period is over, this will no longer be the case. Once your window closes, you will have to answer all the medical questions, and you might not qualify for a Medicare Supplement.
What is a Medicare Supplement?
A Medicare Supplement pays for medical costs that are not covered by Medicare.
Medicare does not pay for everything. With Medicare alone, if you need medical care, you will end up paying 20% for many of your medical costs, with no out of pocket limit.
You could be responsible for 10's of thousands of dollars in medical costs that you will have to pay.
The good news is that Medicare Supplement insurance is very affordable. Because it is only supplemental insurance, the premiums are usually within reach of most people.
2. How to Buy a Medicare Supplement the Smart Way
Medicare Supplement insurance is sold by private insurance companies such as Mutual of Omaha, Gerber Life, United Health Care and many others.
Most Medicare Supplements (also known as a Medigap Plans - because they "fill in gaps" left by Medicare) are exactly the same as every other Medicare Supplement... except for the price.
For example, A Medicare Supplement Plan F (the most comprehensive plan) from Company ABC, has exactly the same benefits as a Plan F from Company XYZ. However, the Plan F from Company ABC may cost $145 and the Plan F from Company XYZ may cost $109 per month.
3. Why You Should Also Consider a Prescription Drug Plan
A Medicare Supplement does not provide coverage for your prescription drugs. A Prescription Drug Plan (also known as Medicare Part D) is a separate plan that helps cover some of your costs.
If you don't buy a Drug Plan when you first become eligible (such as when you first turn 65), you will have to pay a penalty if you ever need more medicines and you want a plan at that time.
The good news is, many Prescription Drug Plans are available at a very low cost (some as low as $15 per month). If you take a lot of medicines now, you may want a plan with more coverage. If you don't take a lot of medicines now, you can get a lower cost plan with less coverage, but at least you will have the coverage.
Be careful about filling out forms on the internet. Most Medicare quote sites are not even real insurance brokers. They are professional lead sites that collect your information and then sell it to a bunch of different agents. Finding help with your Medicare options is hard enough. The last thing you need is to be called by 20 ravenous insurance agents.
Medicare National, LLC is a licensed insurance brokerage. We represent all of the major companies in your area so we can always help you find the best coverage at the lowest price.
Our services to you are always free in every way... no stress, no pressure, no sales pitch! Also, we are compensated by the insurance companies and you are not charged one penny more than if you went directly to an insurance company.
Frequently Asked Questions about Medicare Supplement Insurance
1. Why can't I just compare online and apply online?
Unfortunately, most companies that offer Medicare Supplement Insurance will not publish their rates online.
The good news is, we can help you get the coverage you need quickly and hassle free.
When you call us, we get you covered in three easy steps:
* We ask you a few easy questions (like where you live and if you have Medicare). We help you choose the most appropriate plan for your situation.
* We fill out the forms, send it to you via fax, email or mail.
* You sign it and send it back. Easy!
2. What if I don't like my insurance company and I want to change later?
At Medicare National, we do an "annual review" of your policy to find out if you could save more with another company later (companies change their rates periodically). If we find a plan, or if you simply want to change plans, we may be able to help you find better coverage for you.
After your Initial Election Period, this does of course depend on your health, which is why it is so important to get good advice from experts in the first place.
3. Will I have to answer a bunch of health questions?
No! When you first qualify for Medicare, you don't have to answer any health questions to qualify for a Medicare Supplement.
4. With a Medicare Supplement Plan, will I have to stay in a Network of doctors?
No. With a Medicare Supplement there is no network. You can go see any doctor or hospital as long as they will accept Medicare. You also do not need a referral to see a specialist.
Click the banner below to get started. If you want immediate help, call us at 1-877-763-3442.
Many of our customers ask us about Medicare Advantage Plans
Medicare Advantage Plans are private insurance plans that work "instead of" Original Medicare. Most Medicare Advantage Plans work with a network (such as an HMO or PPO).
With this type of plan, you are normally restricted to use the doctors and providers approved by the plan.
Why do some people choose a Medicare Advantage Plan?
1) Lower Premiums. In some cases, a Medicare Advantage Plan may have a zero monthly premium. This does not mean there are no costs. With a Medicare Advantage Plan, you may have to pay co-insurance, co-pays and deductibles.
2) Many Medicare Advantage Plans also include part D prescription drug coverage with the plan.
For some people, a Medicare Advantage Plan may be a good option, and we can talk to you about this type of plan if you are interested.
We make Medicare... Easy! If you want to talk to a representative, you can call us toll-free at: 1-877-763-3442
Or if you prefer, you can fill out our easy form and we will call you back promptly. Click to get a Medicare Supplement Quote now.