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 can be defined as insurance for people over 65 and people with certain disabilities.
This national health insurance program is divided into 4 parts, and these parts fit together in unique ways.
On July 30 1965, President Lyndon B. Johnson endorsed a Medicare bill allowing people age 65 and up to receive the healthcare coverage they needed from a nationwide program. At first, the coverage was restricted to Part A and Part B. But over the years, the coverage has changed and expanded to cover more people.
Currently more than 56 million people have Medicare coverage. These programs continue to protect the health and well-being of American families, save lives, and reform our nation’s economic security.
Medicare Part A and Part B will offer coverage for most of your expenses. However, you can purchase supplemental policies that help fill in the gaps that Original Medicare doesn’t cover in full.
Part A is hospital insurance that helps you with the expense of inpatient care and skilled nursing facility stays. Part A also helps with hospice and home health care. Generally, think of it as coverage for room and board in the hospital.
The cost of Part A for most folks at age 65 is $0 because you’ve paid taxes to pre-finance the premiums for your hospital benefits.
Part B is outpatient medical coverage. It covers many of the actual treatments that may occur, like scans or surgeries. Without Medicare Part B, you wouldn’t get coverage for these treatments, lab work, or preventative services, and you’d be uninsured for doctor’s visits.
Part B also covers very expensive things like kidney dialysis and cancer therapy.
The cost of Medicare Part B is dictated by Social Security and varies from year to year. People in higher income categories pay more than those in lower incomes categories. How much you pay is regulated by your adjusted gross income that was reported to the IRS.
Part C is defined as private insurance, or the Medicare Advantage program. The costs of these plans will differ by carrier, county of residence, and the plan you choose. To enroll in a Medicare Advantage plan, you must first be enrolled in Part A and Part B and also live in the plan’s service area. Once you enroll, your coverage will come from the Advantage plan itself — not from the government.
Unlike Parts A and B, you don’t have to enroll in Medicare Part C at your Social Security office. This is because Part C is voluntary. Many beneficiaries would rather receive their Medicare coverage from Original Medicare and conventional Medigap plans. It’s your decision whether you choose a Part C plan or stick with your Original Medicare and enroll in Medigap.
The newest part of Medicare, Part D, can be defined as a pharmacy card that covers retail prescription drugs. You sign up for Part D by selecting a carrier and enrolling in their drug plan.
Did you know that for many decades, there was no Medicare coverage for prescription meds? Our federal government presented Part D in 2006, and now there are about 30 drug plans in most states! It can be difficult to choose from so many options, and the agents at Cornerstone Senior Advisors are ready to help you.
Unfortunately, Medicare doesn’t cover every health cost that beneficiaries will face. It doesn’t cover:
If you need help figuring out your coverage options, our Medicare experts are here for you. We’ll educate you on your basic benefits, and then help you choose the best supplement insurance or Medicare Advantage plan. Call Cornerstone Senior Advisors at (316) 260-3331!