Medicare Insurance
Looking for Medicare Insurance in Placerville?
If you are approaching Medicare eligibility and are confused about Medicare and what your options are, we can make the process easy. We have extensive experience with Medicare Insurance in Placerville. Whether you are leaving a group employer plan, or a spouses plan, or maybe you’re aging in to Medicare at the age of 65, we can help.
How we help with Medicare Insurance:
- Choosing the right Medicare Supplement plan
- Understanding Original Medicare vs. Medicare Advantage
- How to choose the most cost effective prescription drug plan
- How to minimize your out-of-pocket expenses
- Understanding enrollment periods and penalties
- How to avoid higher Medicare premiums
One of the biggest mistakes we see Medicare eligible people make in Placerville is dealing directly with Medicare and directly with the insurance carriers. This fragments the process and just adds more confusion. What’s more, you could be sold a product that is more beneficial to a salesperson than it is to you.
Because we are an independent agency, we can provide you with objective advice that will educate you on the differences, pros and cons, and ultimately help you make your decision much easier.
Medicare Supplement Insurance
Medicare Supplement insurance, often referred to as “Medicare gap” insurance, is designed to cover the difference between what you are billed by a medical provider and what Medicare actually covers.
Because Medicare has cost sharing of 80/20, Medicare beneficiaries are responsible for 20% of a Medicare-covered claim under Part B (medical insurance portion) of Medicare. This means that if you are covered under Medicare and it is your only source of insurance, having the proper Medicare Supplement plan is a critical component. If you are covered by both Medicare and a group insurance plan, either through your own employment or a spouses, you may not need your own stand-alone Medicare Supplement coverage because your group insurance could be functioning as your supplement.
There are multiple Medicare Supplement plans to choose from, with varying coverage limits and pricing. Choosing the wrong plan can result in thousands of dollars in out-of-pocket costs, so it’s important that you choose wisely.
Medicare Prescription Insurance
Choosing the right Medicare Prescription drug plan can be a confusing and daunting task. There are so many plans to choose from, and unless you understand the coverages, deductibles and formularies, you could make a mistake that you can’t take back, that could cost you thousands of dollars in out-of-pocket costs.
What’s more, each year Medicare Prescription plans change their pricing, coverages and formulary, so it’s imperative that you stay up to date on your plan and formulary. Your prescription plan should be reevaluated each year during the open enrollment period.
Medicare Advantage Insurance
When someone becomes eligible for Medicare, unless they are covered by a group plan of some kind, they have two options — Original Medicare or, Medicare Advantage (Medicare Part C).
Medicare Advantage is an alternative to the government issued “Original Medicare” program, and is administered by private insurance companies, not the government. Medicare Advantage plans combine the hospital, medical, and prescription drug coverages into one plan. This means if you are in a Medicare Advantage plan, you will have on identification card.
Medicare Advantage plans are different from Original Medicare in many ways, including pricing, coverage levels, co-insurance, deductibles and more. There are also special rules surrounding Medicare Advantage plans. It’s critical that you get thorough and unbiased advice when it comes to choosing between Original Medicare and Medicare Advantage, because in some scenarios your final choice cannot be “undone”.