Once you’ve turned 65, there are many health insurance options. For most seniors, Medicare becomes the prime healthcare provider. However, basic Medicare coverage includes deductibles and copays that can add up to a significant out-of-pocket expense for seniors. A number of private insurance companies have worked with the Medicare system to enhance and supplement basic Medicare plans.

If you are already knowledgeable about Medicare, and would like to go directly to getting a quote for Medicare Supplements, click here.

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Medicare Overview

Here is a very abbreviated run-down on some of the key concepts of senior health insurance. Please note that there are many exceptions and special cases, and we cannot list all of them here. There is a wealth of information available at www.medicare.gov.

Medicare Part A:

Basic hospitalization benefits. Has an annual deductible and copays. No charge if you previously paid sufficient funds into Social Security during your working years.

Medicare Part B:

Basic physician, lab, and outpatient benefits. Has an annual deductible and copays. Monthly charge for Part B is based on your income, and is usually deducted from your Social Security check.

Medicare Advantage Plans (Part C):

A joint program between the Federal government and private insurance companies that provides a number plan designs. Some Medicare Advantage plans have monthly charges, some do not. Some include prescriptions, some do not.

Medicare Part D:

Basic prescription drug benefits that include an annual deductible and copays. There are monthly premiums for Part D coverage, and the specific prescriptions you take may make one plan more cost effective than another. You must be enrolled in Part A and/or Part B to enroll in Part D.

Medicare Supplements:

Private insurance plans that help offset what Medicare does not pay. Some of these plans will pay all Medicare deductible and copay charges, others will pay a portion of these charges. Monthly premiums are paid to the private insurance company.

Enrollment:

You have 3 months before and 3 months after the month you turn 65 to enroll in Medicare. This is a very important 7-month window: 1) there is a cost penalty applied to Part B and Part D if you do not enroll in this 7 month window, and 2) Medicare Supplements are “Guaranteed Issue” during this window, but if you apply outside this 7-month window an insurance carrier can decline your Medicare Supplement application for medical reasons.

How can we be of service to you?

If you’d like to discuss the various plans and options with a trained advisor, please call us at (760)477-7542. We’ll be able to guide you through the selection process and assist you in submitting an application.

If you’re in the market for a Medicare Supplement and would like to see pricing from different insurance carriers in your area:

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