September 30, 2014
Navigating the Medicare program can be confusing. If you’re like most people, reading the fine print is not how you’d like to spend your time. Medicare is the federal health insurance program available to individuals 65 and older and covers more than 40 million Americans. Medicare is also available for younger individuals with disabilities recognized by the Social Security Administration and for individuals with certain types of kidney failure, namely End-Stage Renal Disease (ESRD). Although Medicare covers millions of Americans—the majority of eligible individuals have additional plans to help improve their health coverage under Medicare.
Working with an agent from Crosspointe will make the process easy and ensure you get the additional coverage you or your Medicare-qualified loved one needs.
There are two main parts of Medicare: the first (Medicare Part A) covers inpatient hospital stays and the second (Medicare Part B) covers a host of medical services outside of the hospital.
Some examples of covered services would be:
- Part A: inpatient hospital visits, hospice care, Skilled Nursing Care, and some home health care benefits
- Part B: outpatient care, some medical equipment and preventive services, primary doctor visits and specialist outpatient services etc.
In addition to Medicare, there are two types of plans to help improve your Medicare benefits.
Option 1: Traditional Medicare Supplement
With this option, Medicare will remain your primary coverage and you will have an additional plan option to help pay for your deductibles and co-insurance not covered by Medicare. Some of the more popular Medicare supplement plans are: Plan F, Plan G and Plan N. If you’re 65 years old, these supplement plans can start out around $80 to $100 monthly depending upon the plan and state where you live.
At Crosspointe Insurance, we have access to the most reputable and competitive insurance carriers that offer Medicare supplement plans in Indiana, Kentucky, Ohio, Illinois, Missouri, Michigan, and Tennessee. If you’re interested in a quote for a Medicare Supplement complete our online request form and you’ll be connected with one of our experts.
Option 2: Medicare Advantage (Part C)
Medicare Advantage Plans (Part C) are plans provided through private organizations approved by Medicare. With this type of coverage, the private insurance company becomes the primary insurance provider. Medicare passes the responsibility to manage your health care needs to the insurance company. This means that an Advantage Plan can be crafted to meet your needs and provide coverage with the government helping to reduce the premium costs. Medicare Advantage plans typically cost less per month that a traditional supplement, but you have co-pays and cost sharing when you use your plan.
It is important to note that if you’re already covered by Medicare you can review and enroll in Medicare Advantage plans each year during the Annual Enrollment Period (November 15th through December 7th). Connect with us to review your plan options during this year’s enrollment period.
Now that you know about some options to consider regarding, Medicare, what are the key things to know?
3 Key Things to Know about Medicare
- Let Us Help Determine Your Needs. Each Medicare option, parts A, B, and C, contains different solutions. Combining the Medicare plans with the right additional coverage will allow you to ensure you aren’t missing out on coverage you need. We can help you determine which plan elements you need and find providers that meet your health and budget requirements, contact us to get help!
- Enroll Sooner Than Later. Most people join Medicare at age 65. If you’re approaching age 65 or retirement, let us help you start the enrollment process. Even if you’re already covered by Medicare and enrolled in another plan option – it never hurts to review. We suggest reviewing your coverage every year.
- Understand Your Coverage. Are there any deductibles for your coverage? When it comes to medication, how much will you have to pay? Can you see a specialist? What is the most you could pay out-of-pocket for a major medical condition or treatment? Every situation is different but after speaking with one of our experts, you’ll be able to answer each one of these questions with confidence.
How much does it cost to work with an agent at Crosspointe Insurance? $0.
Yes, that’s right! You can pursue a plan on your own or allow us to make the process easier, and have the experience of a team of insurance experts on your side with no additional cost.
Give us a call at 888.788.1565 today or submit a request for a quote online.