How to determine which Medicare plan is right for you!
When it comes to choosing a Medicare plan, you have several choices. This is a good thing
Medicare is a national health insurance program for folks who are 65 or older, certain younger people with disabilities, and those with end-stage renal disease.
If you’re turning 65 soon, you’ll have some critical healthcare decisions to make.
Known as Medigap Plans, Medicare Supplement Plans fill in the “gaps” of medical costs that aren’t covered by Original Medicare, such as coinsurance, copayments, and deductibles.
Medicare Advantage Plans, or Medicare Part C, can be used to substitute Medicare Part A and B, as well as offer prescription drug coverage.
Medicare Part D is coverage for prescription drugs that you get from a retail pharmacy. With this program, you can access medications at more affordable rates. Plus, it provides insurance against unfavorable drug costs.
It can be challenging to figure out which Medicare plan will fit your budget and healthcare needs. However, our agents specialize in Medicare, and we want to help you compare your options. Regardless of your budget, there’s a plan available for you!
Annuities are essentially financial cushions that help alleviate financial concerns. An individual will pay an insurer a certain amount of money, and in return, the insurer will pay the individual back with a lump sum or through payments at a later date.
Medicare can be confusing and overwhelming. At Cornerstone Senior Advisors, we walk people through the process of Medicare every day to find the right plan at the right price.
At Cornerstone Senior Advisors, we specialize in helping you find the best Medicare supplement for YOUR needs. If you have a question, comment, or concern, we want to hear from you!
There are a few ways to get in touch. You can fill out the contact form, send us an email, or call our office.
As independent insurance agents, we have acquired an abundance of knowledge, and we’re eager to share this expertise with you in the form of articles and blog posts.
The Cornerstone blog covers a wide range of topics — from Medicare Advantage news to retirement planning tips, and much more.
When it comes to choosing a Medicare plan, you have several choices. This is a good thing
Medicare Part B is outpatient coverage for services that are deemed medically necessary. Part B covers things in and out of the hospital, but think of the coverage as any care performed by physicians.
With Medicare Part B coverage, you have access to an array of outpatient medical services. Part B covers the following:
Part B also covers high-priced services that may occur in the hospital, including radiation or chemotherapy for cancer, diagnostic imaging, surgeries, dialysis for failing kidneys, and medical equipment. It will also cover drugs provided in a clinical setting.
Medicare Part B is optional. However, if Medicare is your main coverage, you certainly need Part B. You also can’t receive Medigap supplemental coverage without it.
Medicare covers 80% of approved costs once you pay the yearly deductible.
Medicare Part B doesn’t cover:
Generally, Part B doesn’t cover things that aren’t reasonable and necessary. Your doctor typically knows the rules for what’s covered and what isn’t.
You have to pay a monthly premium for your Part B benefits. Most Americans will pay the customary monthly amount determined by the government. In 2020, the rate is $144.60 per month for those new to Medicare. However, you might owe more if your income is too high.
If you enroll late into Medicare Part B, you could also have to pay a fine for life. You don’t want to miss your enrollment window when you retire!
If you’re already enrolled in your Social Security income benefits, Medicare will subtract your Part B premiums out of your SS check. Otherwise, you’ll get a quarterly bill. You have the option to pay by credit card, or you can use a free auto draft service called Medicare Easy Pay.
Also, the annual deductible for Medicare Part B is $198.
Those who are 65 and already taking Social Security income benefits don’t need to enroll. The SS office will automatically enroll you. Your card will come in the mail 1 to 2 months before you turn 65.
Everyone else must apply for Part B on their own at age 65. You can apply online, over the phone, or in person at the local SS office. After you apply, it’ll take a few weeks for your card to arrive. So, it’s best to apply many weeks before you’ll need the coverage.
Signing up for Medicare Part B is pretty straightforward. You’ll want to enroll during your initial enrollment period unless you have other suitable coverage. Otherwise, you’d face a penalty.
For more information on the application options, click on our Apply for Medicare page.
If you have questions about Medicare or you need more information, call (316) 260-3331.
Our licensed agents can help you compare options, explain your coverage, and identify the most sufficient the plan for you. Get Medicare help today!