Schedule an Appointment
Schedule an Appointment

Medicare Solutions

What is Medicare?
Enrolling in Medicare
Medicare Advantage
Medicare Supplement 
Medicare Part D
Medicare Costs
Medicare FAQs

Comprehensive
Medicare Solutions

We take a holistic approach to your Medicare and supplemental plan needs.  Medicare is explained so you're able to make the best choice based on coverage and affordability.  Once a plan is selected based on your needs, plans are reviewed annually to control costs to many clients who are often on fixed incomes while in retirement.

So, what is Medicare?

Medicare is the United States federal health insurance program for people who are age 65 or older. It’s also available for people who are younger than age 65 and have been diagnosed with certain disabilities or health conditions such as End-Stage Renal Disease (ESRD) or Lou Gehrig’s disease (ALS).

Enrolling in Medicare

What You Need to Know

Whether you're coming up on your 65th birthday or you've been disabled for 24 months, the quickest and easiest way to enroll into Medicare is to click the button below.  However, you can also call them at 1-800-772-1213 (TTY 1-800-325-0778) or go to your local Social Security Administration Office.  The timeline to sign up for Medicare is three months before the month of your birthday, the month of your birthday and three months after your birthday.

Get Enrolled Now
Schedule An Appointment

Medicare Part A

Hospital: Premium free if you have worked at least 10 years full-time. If not, it’s $505 per month.

Hospital Stay: Part A deductible: $1,632.00 every benefit period.  Benefit periods run every 60 days. Days 61-90 is $408 per day. Days 91-150 is $816 per day. After day 150, coverage ends during that benefit period. 

Skilled Nursing Facility Stay: $0 for the first 20 days of each benefit period. $204 copay per day for days 21-100 of each benefit period.

Costs

Medicare Costs 2024

Medicare Part B (Medical)

Premium: $174.70 per month for most people unless you qualify the Medicare Savings Program or you’re assessed an Income Related Monthly Adjustment Amount or IRMAA based on income.

Deductible: $240 annually

Medicare Part C (Medicare Advantage)

Premiums set by individual insurance companies based on benefits inside the plan.  Costs can and do change annually. 

Medicare Part D (Prescription Drug Plans)

Premiums set by individual insurance companies based on benefits inside the plan.  Premium costs tend to be based type and quantity of prescriptions.  Meaning the more expensive prescriptions, the more you will pay for the plan premium.  Costs change yearly.

img
img
img

When becoming newly eligible for Medicare, it is extremely important to pick the best plan for you because this is the one time you do not have to health qualify or pass health questions to purchase a supplement. This enrollment period is called the Open Enrollment Period (OEP) and lasts for 6 months after you initially signup for Medicare. When deciding to choose a supplement, it is important consider a company's financial ratings, premium rate stability, how long the company has been in business and have an idea of the cost of that plan in the next 10-15 years, and if you can afford those premiums in that time span.  
And, what’s really great about supplements is there is no network of doctors you must see.  As long as your doctor accepts Medicare assignment, which is most, you can see your doctor.  Costs are also more predictable throughout the year giving the ability to budget for your healthcare.

Medicare
Supplements

Original Medicare or Part A and Part B of Medicare have deductibles, copays and coinsurance.  Part A (hospital coverage portion) of Medicare, as mentioned above, has an initial deductible for the first 60 days and have copays thereafter to a max of 150 days in the hospital and 100 days in a Skilled Nursing Facility.
And Part B (medical coverage portion) has an initial deductible and only covers 80% of Medicare approved medical expenses. So how do you cover the deductibles, copays and coinsurance for hospital and medical expenses that Medicare doesn’t cover?

One way, and arguably the best way, to cover the other 20% is to purchase a Medicare supplement. Supplements are offered by private insurance companies and the most popular plans offered currently are Plans G and N. 

Medicare Advantage Plans

Medicare Advantage plans, also offered by private insurance companies, is Part C of Medicare and these plans have networks, copays, coinsurance, deductibles, Max out of Pocket (MOOP) costs and most come with drug plans, and additional benefits for dental, vision and hearing. These plans even provide gym memberships for gyms that participate in Silver Sneakers and an Over the Counter (OTC) benefit. And to top it off, premiums are very affordable depending on the company and where you live.

Also, if you have Medicaid and Medicare, there are fantastic plans that offer additional benefits!

Reviewing your Medicare Advantage plan annually is very important! This can save you thousands of dollars and surprises over the years. Plans’ coverages, networks and premiums change annually and can drastically affect how much you pay out of pocket for your prescriptions and what doctors you can see.

Part D Prescription
Drug Coverage

Part D of Medicare is Prescription Drug coverage. With Part D, it is very important to enroll in a Part D plan when you are new to Medicare and pick a plan that is best for you. Although you may not need prescription coverage now, you may need it later when you are older. The reason I point this out is because of the late enrollment penalty for Part D. If you are assessed a late enrollment penalty for Part D, you are assessed 1% per month for every month you could’ve had a Part D plan, but didn’t have one. This penalty is assessed for as long as you have a Part D plan and increases every month you don’t have a Part D plan.

  • Stand-alone Part D plans are normally coupled with Original Medicare or a Medicare supplement, but can be coupled with other plans.
  • Reviewing your Part D plan annually is very important! This can save you thousands of dollars and surprises over the years. Plans’ coverages and premiums change annually and can drastically affect how much you pay out of pocket for your prescriptions.

Faqs

Frequently Asked Questions!

Explore our FAQs for comprehensive answers. If you have any additional questions, don't hesitate to reach out to us.

Contact Us
How could my income affect my Medicare Part B and Part D premiums?
Depending upon your income from 2 years prior, you may be subject to an Income Related Monthly Adjustment Amount (IRMAA), which will increase your premiums based on your income. This means as your income increases so do your premiums with Medicare Part B and Part D. For instance, if you sell a house and it pushes your income over the specified limit, your premiums will be higher.
Will I be enrolled in Medicare automatically when I turn 65?
Generally, if you are drawing Social Security payments, you will receive your Medicare card with Part A and B about 3 months in advance of the month you turn 65. If you are not drawing Social Security when you turn 65 and waiting until full retirement age to draw Social Security, you must apply for Medicare at 65.
If I get a Medicare Advantage or Medicare supplement plan, do I still need to pay Part B of Medicare?
Yes, you still need to pay Part B of Medicare and you must have Part B to get a Medicare Advantage or Medicare supplement plan.
What is the Part B late enrollment penalty?
You are assessed a late enrollment penalty if you do not enroll in Part B of Medicare when you turn 65 if you do not have creditable coverage. It is a 10% penalty added to your Medicare Part B premium for every year you’re not enrolled in Part B after 65, and the penalty stays with you as long as you have Part B.
Do I need to enroll into Medicare if I’m still working?
This has become a frequent question with more and more people working longer. However, if you're still working and have what is considered creditable coverage, you may not need to sign up for Medicare when turning 65. To determine whether you have creditable coverage, it's advisable to speak to your HR or Personnel representative at your employer. As a rule, if an employer has 20 or more employees, it is normally considered that you have creditable coverage. Also, if your employer coverage is considered creditable, it’s still worth doing a plan comparison between Medicare and your current coverage.