Ask about IDAHO's new Medicare Supplement Birthday rule!
Ask about IDAHO's new Medicare Supplement Birthday rule!
Medicare is our country's federal health insurance program for people age 65 or older.
People younger than age 65 with certain disabilities, permanent kidney failure, or ALS (Lou Gehrig's disease), can also qualify for Medicare.
The program is often called Original Medicare and has two parts:
Part A Hospital insurance
Part B Medical insurance
Medicare helps with the cost of health care, but it doesn't cover all medical expenses or the cost of most long-term care.
You have choices for how to get additional Medicare coverage when enrolled in original Medicare part A and Part B.
Although the Centers for Medicare & Medicaid Services (CMS) is the agency in charge of the Medicare program, Social Security processes your application for Original Medicare (Part A and Part B).
We are trained and certified with the top Medicare Insurance carriers and can answer your questions.
U.S. citizens and legal residents. Legal residents must live in the U.S. for the 5 years just before applying for Medicare.
You Must also meet one of the following:
Original Medicare (Parts A & B)
You can choose more coverage
Part A costs (2021)
You usually don't pay a monthly premium for Part A if you or your spouse paid Medicare taxes for a certain amount of time while working. (Contact Social Security for more information about your Part A premium)
Part B costs (2021)
Most people will pay the standard premium of $148.50 per month for Part B. If your modified adjusted gross income is above a certain amount ($88,000 for Ind. tax return or $176,000 for joint tax return), you may pay an income related monthly adjustment amount. Note that if your modified adjusted in gross income is above this amount you will also pay an adjusted amount for your Part D prescription drug coverage.
Part C - Medicare Advantage costs
Advantage plans are offered by private companies that are contracted by Medicare. Advantage plans MUST provide everything that Original Medicare Part A & B cover. Plus they usually include Part D prescription drug coverage. These plans can be HMO or PPO type plans and can have premiums as low as $0 to $40 per month. To be eligible for an Advantage plan you must have Part A & B so those premiums will always be paid to Medicare. Most Advantage plans also include many additional benefits such as Hearing/Vision/Dental/Fitness and more.
This does not cover everything and has no out-of-pocket costs; leaving you vulnerable to extra costs.
Original Medicare does not provide prescription drug coverage.
MAPD - Medicare Advantage Prescription Drug plans work in place of your Part A & Part B original Medicare coverage. Additionally the MAPD include Part D prescription drug coverage, limit your financial exposure with annual maximum out-of-pocket costs.
Most Advantage plans include additional benefits such as Dental, Hearing, Vision, and Fitness.
Medicare Supplement plans help cover gaps in Original Medicare Part A & Part B. If you do not select an Advantage plan then a Supplement can cover some of the additional cost that Original Medicare does not cover.
These plans do NOT include Prescription Drug coverage (Part D). To obtain drug coverage you would need to enroll with another carrier for prescription drug coverage.
Prescription Drug plans are stand alone plans to cover prescription needs only and no medical coverage.
You would not need a Part D stand alone if you have other creditable Prescription drug coverage or you enroll in a Medicare Advantage plan that includes Part D.
Examples of creditable coverage would be MAPD plans or Veteran Prescription coverage.
People who pay a Part A premium (most don’t) could pay an additional 10% of the premium amount. The penalty is charged every month for twice the number of years enrollment was delayed.
You could pay an additional 10% of the premium amount for each full 12-month period enrollment is delayed. The penalty is charged every month for as long as you have Part B.
You could pay an additional 1% of the average Part D premium for each month you delay enrollment. The penalty is charged every month for as long as you’re enrolled in Part D.
MAPD - Medicare Advantage plans work in place of your Part A & Part B of Original Medicare coverage.
Carriers are contracted by Medicare to provide this coverage and it must include everything that Part A & B provide plus more!
Most Advantage plans include Part D prescription drug coverage.
Advantage plans may also include additional benefits such as Dental, Hearing, Vision, Fitness and more.
Medicare Supplement plans help cover gaps in Original Medicare Part A & Part B. If you do not select an Advantage plan then a Supplement can cover some of the additional cost that Original Medicare does not cover.
These plans do NOT include Prescription Drug coverage (Part D).
Prescription Drug plans are stand alone plans to cover prescription needs only and no medical coverage.
You would not need a Part D stand alone if you have other creditable Prescription drug coverage. Examples would be MAPD plans or Veteran Prescription coverage.
Lewis Insurance Agency is an independent agency that is family owned. Our main goal is to help people with their Medicare options and we specialize in Medicare Insurance.
Because we are independent agents we provide non-biased consultation to you as our clients. We are contracted and certified with the most the Major Medicare Insurance carriers and can answer all your questions about Medicare Plans.
Carriers
Carriers
Plans:
Certified with most major carriers for Prescription Drug plans.
Call or email for more information.
Lewis Insurance Agency, LLC
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