Trusted Independent Medicare Agent for Personalized Assistance
Sixty-five is the magic number, and we’re not just talking years! It seems like 65 is also the minimum number of questions the average person has when weighing all their Medicare-related options. You’ve worked hard and waited patiently to tap into those Medicare benefits. Let our team of Medicare Insurance Brokers help ensure you understand your benefits and optimize any supplemental, advantage, or prescription drug plans you may want or need.
RightQuote – Medicare Open Enrollment
If you’re ready to enroll in Medicare, understanding the plan coverage and pricing and how much Medicare will cost you might be difficult. Even after enrolling in Medicare, you may want to confirm that your current plan is still the best fit for you.
That’s where a Medicare broker can be of help to you. RightQuote provides guided Medicare open enrollment assistance. Here’s what you should know before you start enrolling in Medicare.
Learn more about your different Medicare options.
Original Medicare
The majority of those 65 and better will receive Medicare Part A (hospital insurance) and Medicare Part B (medical insurance) automatically, however, others may have to sign up for it. In most cases how you access your Medicare benefits is dependent on whether you’re getting Social Security benefits. Original Medicare refers to those benefits provided under Part A and Part B.
What Is a Medicare Enrollment Broker?
A Medicare Enrollment broker is a qualified individual who works for several insurance providers and may assist you in selecting a plan and evaluating your options.
They should also be licensed in the state or region where they operate and must follow strict restrictions, particularly around marketing and enrollment.
How Can a Medicare Broker Help You?
RightQuote’s brokers liaise between those needing Medicare coverage and the firms that provide it. Most brokers can also help clients and insurance providers identify individual, family, and group plans that meet their needs.
They can answer your questions and assist you in understanding the complex Medicare information. Simply put, they feature and promote their plans, assisting private insurance firms in reaching out to individuals requiring Medicare open enrollment assistance.
There are more alternatives and possibilities with Medicare, and it can take years to truly become comfortable with all the available plan options themselves. To ensure your Medicare broker is acting in your best interests, asking the appropriate questions before beginning is crucial.
Why Should You Work With RightQuote’s Brokers?
A professional RightQuote’s broker will listen to your requirements and preferences before providing information about your coverage alternatives. At RightQuote, we’re focused on offering a personalized experience without the trouble and fees associated with traditional insurance agents.
Working with a skilled Medicare broker from RightQuote can help you save time and money while also assisting you in finding the best plan. We understand your needs and provide Medicare options according to your requirements at the lowest possible price.
So, you can be sure you will receive unbiased, practical help and dependable alternatives. Our team of brokers is only looking out for your best interest. So, contact us today to explore how we can support you in your Medicare enrolment process.
In most cases, individuals will automatically receive Part A and Part B starting the first day of the month in which they turn 65 years old. You should receive your original Medicare card in the mail 3 months before your 65th birthday. Most people are enrolled in Part A when they turn 65, but some may choose to delay their Part B benefits. Talk to your independent medicare agent to find out more about whether you should take Part B.
You may choose to purchase a Medicare Advantage Plan (Part C) and/or prescription drug coverage (Part D), but there are specific times when you can sign up for or make changes to your Medicare coverage (annual election period is October 15 to December 7).
Medicare Supplement (Medigap) Insurance
A Medicare Supplement, also known as Medigap insurance, is sold by private insurance companies. These types of policies can help pay some of the health care costs that original Medicare doesn’t cover, like copayments, coinsurance, and deductibles to learn more about this you can consult a medicare insurance broker. If you have original Medicare and you buy a Medigap policy, Medicare will pay its share of the Medicare-approved amount for covered healthcare costs. Your Medigap policy will pay its share.
A Medigap policy is different from a Medicare Advantage Plan. Advantage plans are ways to receive your Medicare benefits, while a Medigap policy only supplements your original Medicare benefits.
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You must have Medicare Part A and Part B. |
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If you have a Medicare Advantage Plan, you can switch to a Medicare Supplement insurance policy, but make sure you can leave the Medicare Advantage Plan before your Medicare Supplement insurance policy begins. You pay the private insurance company a monthly premium for your Medicare Supplement insurance policy in addition to the monthly Part B premium that you pay to Medicare. |
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You pay the private insurance company a monthly premium for your Medicare Supplement insurance policy in addition to the monthly Part B premium that you pay to Medicare. |
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A Medigap policy only covers one person. If you and your spouse both want Medigap coverage, you’ll each have to buy separate policies and talk to an independent medicare agent about the best policy to get . |
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You can buy a Medicare Supplement insurance policy from any insurance company that’s licensed in your state to sell one. |
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Any standardized Medicare Supplement insurance policy is guaranteed renewable even if you have health problems. This means the insurance company cannot cancel your Medicare Supplement insurance policy as long as you pay the premium. |
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Medicare Supplement insurance policies sold after January 1, 2016 aren’t allowed to include prescription drug coverage. If you want prescription drug coverage you can join a Medicare Prescription Drug Plan (Part D). |
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It’s illegal for anyone to sell you a Medigap policy if you have a Medicare Advantage Plan, unless you’re switching back to original Medicare or simply ask a Medicare insurance broker with regards to the rules of your policies. |
Medicare Advantage Plans
Medicare Advantage Plans, sometimes called Part C, are health plan options that are part of the Medicare program. If you join one of these plans, you generally get all your Medicare-covered health care through the Medicare Advantage Plan. This coverage can include prescription drug coverage. Medicare Advantage Plans include:
- Medicare Health Maintenance Organizations (HMOs)
- Preferred Provider Organizations (PPO)
- Private Fee-for-Service Plans
- Medicare Special Needs Plans
When you join a Medicare Advantage Plan, you use the health insurance card that you get from the plan for your health care. In most of these plans, there are generally extra benefits and lower co-payments than in the original Medicare Plan. Most Medicare Advantage Plans are managed care plans, usually a health maintenance organization (HMO) or a preferred provider organization (PPO) and you may have to see doctors that belong to the plan or go to certain hospitals to get services.
To join a Medicare Advantage Plan, you can talk to an independent Medicare agent and you must have Medicare Part A and Part B. You will have to pay your monthly Medicare Part B premium to Medicare. In addition, you may have to pay a monthly premium to your Medicare Advantage Plan for the extra benefits that they offer. In 2020, the standard Part B premium amount is $144.60 (or higher depending on your income). However, some people who get Social Security benefits pay less than this amount, $135 on average in 2019.
When Can I Enroll?
Keep in mind that Medicare limits when you can join, a Medicare insurance broker can further assist you whether you wanted to switch or drop a Medicare Advantage Plan. You can join a plan when you first become eligible for Medicare. This is anytime beginning three months before the month you turn 65 and ending three months after the month you turned 65.
- For example, if you turn 65 on May 5th, your eligibility period starts on February 1st and ends on August 31st.
- If you are disabled and have Social Security Disability Insurance, you can join an Advantage Plan 3-months before to 3-months after month 25 of your disability.
- You can switch or drop your Medicare Advantage plan during Medicare’s open enrollment period between October 15th and December 7th each year.
This information was obtained from www.medicare.gov
By contacting the phone number on this website you will be directed to a licensed agent.
Part D Prescription Drug Plans
You can sign up for Part D Prescription Drug Plans, which help cover prescription drug costs, along with other components of Medicare, starting three months before your 65th birthday.
It’s important to do this on time with a help of an independent medicare agent because there’s a permanent premium surcharge for enrolling more than three months after your 65th birthday, if you don’t have equivalent drug coverage from another source, such as a retiree plan.
Let us help with your enrollment!
If you are already enrolled in a Part D standalone plan or a Medicare Advantage plan that incorporates drug coverage, its better to consult a Medicare insurance broker if you can switch plans during the open-enrollment period, which runs from October 15th to December 7th every year.
For costs in the coverage gap phase, beneficiaries will pay 25% for both brand-name and generic drugs, with plans paying the remaining 75% of generic drug costs—which means that, effective in 2020, the donut hole will be fully phased out. For total drug costs above the catastrophic threshold, Medicare pays 80%, plans pay 15%, and enrollees pay either 5% of total drug costs or $3.60/$8.95 for each generic and brand-name drug, respectively.
It pays to review your Part D coverage every year, especially if you have started taking new drugs. Our team of trusted independent medicare agent would be happy to review your plan annually with you. However, if you prefer to do your research first, here are some resources to get you started:
- Start at Medicare.gov, where you can find the basics about the benefit and part D plans.
- There’s also a link to the Medicare Part D Plan Finder such as Medicare insurance broker, which allows you to compare offerings and coverage options in your area and includes a helpful formulary finder that allows you to compare plans based on their coverage of your personalized list of drugs. It even shows you your monthly out-of-pocket drug cost for the year.
Individuals with annual incomes of less than $18,210 and financial resources of less than $14,100, or married couples with incomes of less than $28,150, might qualify for extra help from Medicare to pay their Part D premiums and out-of-pocket drug costs.
Download Medicare’s instructions on applying for the Extra Help program.
Additionally, you can read about the six ways to lower your drug costs on Medicare.gov.
This information was obtained from www.medicare.gov
By contacting the phone number on this website you will be directed to a licensed agent.
Looking for a custom solution?
We’re always looking to help clients improve their workflow and financials of their business. If you’re looking for something more custom, or tailored towards a particular niche or vertical, we can help. We’ll work with you to create a plan bespoke to your unique needs. Give us a call and we’ll carve out the perfect plan for you.