Medicare
What Does Medicare Cost?
We get this question a lot. What does Medicare cost? And it depends on which option you choose, your medical needs or whether you qualify for financial assistance, etc… It’s difficult to put a cost on Medicare because of how the program works. There are four parts to Medicare A, B, C and D. Plus,…
Is Medicare and Medicaid the Same Thing?
This is a question we get most frequently from our clients. And it’s no wonder when the words sound very similar. Is Medicare and Medicaid the same thing? Both are US government-sponsored insurance programs to help cover healthcare costs. But the simple answer is no, they are not the same thing. In fact, they are…
Eight Biggest Mistakes Consumers Make with Their Medicare Coverage
Medicare coverage as of 2020, over 62 million Americans receive their medical insurance through Medicare. While most of these recipients enter the Medicare system when they turn 65, about 5 million get on Medicare due to disability. Medicare coverage is in 2 parts, Part A, which covers the cost of hospital care, and Part B…
2021 Costs for Medicare
Medicare costs change every year, and most of the time, you will see cost increases. Facing a Medicare health insurance plan with costs that change each year can be overwhelming. However, when you understand the changes in Medicare costs, you can prepare adequately. We will go over the cost of all Medicare parts to give…
What Does Medicare Cover?
Medicare is an insurance program dispensed by the federal government for people who are 65 and above. It covers the healthcare insurance needs of people with permanent kidney failure. Components of Medicare include Medicare Part A, Medicare Part B, Medicare Part C, Medicare Part D, and Medicare Supplement Plans. Each component handles aspects of a…
What Does It Mean To Be Dual-Eligible?
Americans who have both Medicare and Medicaid are called dual-eligibles. Dual-eligibles are eligible or enrolled in both programs when a Medicare enrollee’s revenue and overall capital base are low enough to make them eligible for Medicare support when covering some Medicare costs or making them eligible for comprehensive coverage under both Medicare and Medicaid. The…
Can I Get Medicare Part A For Free?
Yes! You will receive premium-free Medicare Part A if: You receive retirement benefits from Social Security or the Railroad Retirement Board. You are eligible to receive Social Security or RRB benefits but haven’t filed for them yet. You or your partner have Medicare-enabled government employment. You may also qualify for premium-free Medicare Part A if…
What Are The Most Important Medicare Enrollment Periods?
Initial Enrollment Period The Initial Enrollment Period (IEP) is the ideal time to enroll in Medicare. The IEP is a seven-month window that commences three months before your 65th birthday, your birthday month, and the three months after your birthday. Suppose your birthday is in September, your IEP starts on June 1 and ends on…
Why Every Person On Medicare Needs To Review Their Policies Now
One of the biggest mistakes I see with my clients on Medicare is that they tend to “set it and forget it.” When I speak about Medicare policies, I’m talking about those with either a Medicare Advantage plan or a Medicare Supplement (Medigap) with a Part D drug plan. We have just entered the one…
Are You Automatically Enrolled In Medicare When You Turn 65?
Many individuals who are turning 65 will be enrolled automatically in both Medicare Part A and Part B (Original Medicare). If you’re receiving Social Security, the Social Security Administration will automatically enroll you at age 65. Medicare is controlled by the Centers for Medicare and Medicaid Services, but Social Security oversees enrollment. Social Security will…
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