New to Medicare? Start Here!
There are so many Medicare options. Which one is right for you?
Let us help at MedMyWay. Schedule a time with us to discuss your options.
Let us help at MedMyWay. Schedule a time with us to discuss your options.
Part A. Part A covers inpatient hospital stays, care in a skilled nursing facility, hospice care, and some home health care. coverage if you or your spouse paid Medicare taxes for a certain amount of time while working. This is sometimes called “premium-free Part A.” Most people get premium-free Part A.
Part B. Medicare Part B helps cover medical services like doctors’ services, outpatient care, and other medical services that Part A doesn’t cover. Part B is optional. Part B helps pay for covered medical services and items when they are medically necessary. Most people have to pay a premium to get Part B from Medicare.
Part C. A Medicare Advantage is another way to get your Medicare Part A and Part B coverage. Medicare Advantage Plans, sometimes called “Part C” or “MA Plans,” are offered by Medicare-approved private companies that must follow rules set by Medicare. If you join a Medicare Advantage Plan, you’ll still have Medicare but you’ll get most of your Part A and Part B coverage from your Medicare Advantage Plan, not Original Medicare.
Part D. Medicare Part D is a voluntary outpatient prescription drug benefit for people with Medicare, provided through private plans approved by the federal government. Beneficiaries can choose to enroll in either a stand-alone prescription drug plan (PDP) to supplement traditional Medicare or a Medicare Advantage prescription drug plan (MA-PD), mainly HMOs and PPOs, that cover all Medicare benefits including drugs.
Contact Social Security (or the Railroad Retirement Board) to sign up for Part A (Hospital Insurance) and Part B (Medical Insurance). Medicare provides your coverage, but you’ll sign up through Social Security (or the Railroad Retirement Board) because they need to see if you’re eligible for Medicare, including whether you (or another qualifying person) paid Medicare taxes long enough to get Part A without having to pay a monthly premium. Social Security also process requests to sign up for Part B for Medicare.
1 – Online (at Social Security) – It’s the easiest and fastest way to sign up and get any financial help you may need. (You’ll need to create your secure my Social Security account to sign up for Medicare or apply for benefits.)
2 – Call Social Security at 1-800-772-1213. TTY users can call 1-800-325-0778.
3 – Contact your local Social Security office.
4 – If you or your spouse worked for a railroad, call the Railroad Retirement Board at 1-877-772-5772.
If you are over 65 and still working, you can sign up for Medicare Part A and/or Part B when you are ready to end your work based coverage. You can sign up for Medicare Part A and/or Part B using the 4 ways listed above. One important note, REQUEST FOR EMPLOYMENT INFORMATION, should be completed by your employer that is providing your credible employer based health insurance to AVOID a Part B late enrollment penalty for the time you had employer-based coverage since turning 65. You will also want to complete the Application for Part B.
If you currently have a Medicare Supplement, like Plan F, Plan G, or Plan N and your monthly premium keeps going up every year, you have options. One option, apply for the same coverage you have now, and get a lower rate with another health insurance company.
Applying for new coverage typically requires underwriting.
Check out my video above for more details. You can click the links below for a sample underwriting questionnaire and a sample medication denial list. There are other factors that can affect your approval like BMI (body mass index). If you would like to explore your options, contact me at 800-750-6530 or click the link below to schedule a time on my calendar. I look forward to helping you.
The American Rescue Plan was recently signed into law. This is the largest expansion of the Affordable Care Act since it was signed in 2010, and the American Rescue plan expands subsidies significantly, both increasing subsidies for those who qualified before and expanding subsidies to people who have never previously qualified.
Plus, there’s a new enrollment period, meaning anyone can enroll until August 15th without needing a Qualifying Life Event.
1. Those who already qualified for subsidies will see larger subsidies. This means people who make up to 400% of the federal poverty level (up to $51,520 for an individual or $106k for a family of 4) will see even more savings than they did previously.
2. Most people who didn’t previously qualify for subsidies will now qualify. Before, if you made more than 400% of the federal poverty level, you could not get any subsidies. The new bill caps the percentage of income paid for a Marketplace benchmark silver premium to 8.5% of your household income, which makes health insurance significantly more affordable if you previously had too high of income to get a subsidy.
3. Subsidy guarantees for enrollees receiving unemployment compensation. If you’ve received unemployment compensation in 2021, you may qualify for significant subsidies regardless of your income.
4. COBRA covered at 100% until September. If you were laid off/involuntarily terminated, you can get the cost of COBRA covered until September.
The vast majority of consumers will see larger subsidies for their plans. The American Rescue Plan increases the amount of premium subsidy for all households within 100—400% of the federal poverty level, and extends subsidies to those above 400%.
People who make above 400% of the federal poverty level, who were previously ineligible for subsidies, this can see huge savings.
Here are a few key stats:
Extra subsidies will become available on April 1st, 2021. After that, if you are currently enrolled in a Marketplace plan, your premium will not be automatically lowered.
You have 2 options:
If you change plans, the amount you’ve already paid towards your deductible may be reset, and you might need to start over paying out of pocket expenses to reach the deductible of the new plan. You should check with your insurance company to see whether they’ll give you credit towards your new deductible if you stick with a new plan with the same insurer.
We highly recommend that you shop on the Marketplace after April 1st to see if you can get a low-cost health insurance plan. The new subsidies make plans much more affordable, and you may be able to get a very low-cost or free health insurance plan. Click the Find the Best Plan for you link below to see plans and prices or call us at (800) 750-6530 to get help enrolling.
You are not alone and Faith Community Pharmacy is a resource to help. Faith Community Pharmacy provides 100% free prescription medications to those living in Northern Kentucky who cannot otherwise, afford their prescriptions for chronic disease states such as diabetes, COPD, asthma, high blood pressure, mental health and more.
Call for more details or ask your physician to send a referral to start the process.
A life insurance policy from MassMutual can help protect your loved ones in the event of your passing. There are two main types of life insurance: term and permanent. Term is for a specific period of time; permanent life insurance provides a death benefit that can last a lifetime, so no matter when you pass, your loved ones will receive a payment. And some of our permanent policies offer the opportunity to build cash value , which you’re able to use however you’d like.
If you are under 65 in Kentucky, Indiana, Texas, Florida, Missouri, Alabama, or North Carolina you might appreciate the stability of having the same insurance plan for three years. TriTerm plans have a national PPO network, cover some preventive care, offer copays for medical visits and prescriptions at an affordable price. Check out TriTerm Medical plans here.