Before I get started with the information below, I just wanted to first mention that: Medicare Insurance information can be overwhelming and confusing to many people. As an independent licensed agent I can explain things to you in simple terms so you feel comfortable making a decision. Then I can help you choose and enroll in a plan that you feel fits your needs.
By the way, it doesn’t cost you any more if you enroll in a Medicare Insurance plan through me as an independent agent versus directly with an insurance company either over the phone or via the Internet, since I get paid by the insurance companies for your enrollment. Plus you will have personalized service by a local agent. If you would like my assistance, please call me at 941-404-5334.
By calling this number, I understand I will be directed to a licensed insurance sales agent.
Step 1: Decide if you prefer Original Medicare OR a Medicare Advantage Plan
(Like an HMO or PPO)
Step 2: Decide if you want Prescription Drug Coverage (Part D)
Step 3: Decide if you want supplemental coverage. (This type of supplemental coverage to Original Medicare is also known both as a Medicare Supplement Plan or as a Medigap plan. Two different names for the same thing.)
Some important things to know and other tips to keep in mind:
- You first need to be enrolled in both Part A and Part B (Through the Social Security Office) in order to get enrolled in either a Medicare Supplement Plan or a Medicare Advantage Plan. Make sure to enroll in Part B when you are first eligible, or you may face penalties later on if you don’t have creditable coverage.
- You are not allowed to be enrolled in both a Medicare Advantage plan and a Medicare Supplement at the same time.
- Many, but not all, Medicare Advantage plans may have drug coverage included in their plan.
- Many, but not all, Medicare Advantage plans may have zero (or very low) premiums.
- Many, but not all, Medicare Advantage plans may have dental care, vision, fitness benefits, and even "Over The Counter” (OTC) credits, etc. included in your plan at no extra charge.
- If you choose a Medicare Supplement (Medigap) plan, you will need to purchase a separate additional Part D Prescription Drug Plan (PDP), if you want drug coverage.
- If you don’t enroll in a Medicare plan that has Prescription Drug Coverage when you are first eligible and don’t have credible coverage, then later in life if you enroll in a plan with Prescription Drug Coverage, you will incur a 1% per month government penalty for each month you missed from when you were first eligible and that penalty will continue for the rest of your life as long as you keep Prescription Drug Coverage!
- If you pick a Medicare Advantage plan, be sure to verify that your existing doctors are in the network of specific Medicare Advantage plan that you choose. Also verify that all your prescriptions are covered by the plan and find out your out of pocket costs of each drug.
- It is important to know what coverage you will have if travel out of your area. All Medicare plans cover you if you have a true emergency. However some HMO plans do not have coverage out of your service area for other things that are not considered true emergencies.
- Medicare.gov Plan Finder can help you compare Medicare Advantage and PDP plans.
- If you are still confused or just want some guidance, please contact me to help explain things in simple terms and then enroll you in a Medicare Supplement plan OR Medicare Advantage plan of your choosing after I give you the information you need to make an intelligent decision. If you would like my assistance, please call me at 941-404-5334. By calling this number, I understand I will be directed to a licensed insurance sales agent.