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You have many options to pay for your Medicare policies in retirement. We have the Medicare advice to navigate the Medicare Maze.
Medicare is a government-funded health insurance program that provides medical coverage to certain groups of individuals. It was established in 1965 under the Social Security Act and is primarily designed to provide health insurance coverage for individuals who are aged 65 and older. However, it also covers certain younger individuals with disabilities and individuals with end-stage renal disease (ESRD).
While Medicare covers a significant portion of healthcare costs, it does not cover all expenses. Beneficiaries are responsible for paying premiums, deductibles, copayments, and coinsurance for various services. Some individuals may also choose to purchase additional private insurance, to help cover these out-of-pocket costs and to help fill in the gaps.
Medicare consists of several parts, each covering specific services.
Medicare Part A provides hospital insurance coverage to eligible individuals, helping to cover inpatient hospital stays, skilled nursing facility care, hospice care, and limited home health care services.
Covers certain doctors' services, outpatient care, medical supplies and preventive services
Medicare Part C, also known as Medicare Advantage, is an alternative to Original Medicare (Parts A and B) and offers comprehensive health coverage through private insurance plans.
Medicare Part D is a prescription drug coverage program that helps beneficiaries afford and access necessary medications through private insurance plans.
Medicare Supplement Options
Medicare Supplement Insurance (Medigap) is a Medicare policy you can buy from a private company that helps pay your share of costs.
Medicare Advantage (Medicare Part C)
Medicare Advantage plans provide Medicare coverage through private health insurance companies approved to participate in the Medicare program.
Prescription Drug (Medicare Part D)
Part D (Medicare drug coverage) helps cover the cost of prescription drugs, may lower your costs, and protect against higher costs. Medicare has made prescription drug coverage available to everyone currently on Medicare through its Part D program. Part D drug plans, which are sold by private insurance companies, can vary in cost and by the drugs they cover. This drug coverage is not included in Original Medicare and is typically available in two different ways. Your first option is if you have Original Medicare, typically with a Medicare Supplement Plan, then you can enroll in a stand-alone Part D plan when you are new to Medicare or during another valid enrollment period. The second way you can get drug coverage is built into a Medicare Advantage Plan.
Hospital Indemnity Insurance
Did you know there are dozens of plans to choose from for your Medicare gap coverage? We represent most major Medicare carriers in the area and we are certified to educate those just now enrolling into Medicare as well as those already on Medicare. We can explain to you exactly what your plan does and does not do.
You'll work directly with one of our experienced licensed Medicare advisors who will provide Medicare advice such as your Medicare supplement options and review the other Medicare policies. We never ship you off to a call center. Our team is available to answer all your Medicare insurance questions in Kissimmee, Tampa, Orlando, Ocala, Winter Garden, and all of Florida.
Our goal is to make sure you select the appropriate Medicare supplement options. We ask many more questions than the typical Medicare broker, with the intent of providing Medicare advice on finding the best Medicare policies for your needs.
We work for YOU, not the insurance companies. When it comes to your Medicare advice and Medicare supplement options, we have your best interest at heart. We are here to provide you with unbiased assistance when it comes to your Medicare policies. At the end of the day, it is YOUR decision which medicare policies you choose.
Medicare and Medicaid are both government programs that provide healthcare coverage, but they serve different populations. Medicare is primarily for individuals aged 65 and older or those with qualifying disabilities, while Medicaid is a joint federal and state program that provides healthcare coverage to low-income individuals and families.
Medigap, also known as Medicare Supplement Insurance, is private health insurance that helps cover some of the out-of-pocket costs of Original Medicare, such as deductibles, copayments, and coinsurance. Medigap plans are sold by private insurance companies and work alongside your Medicare coverage.
Yes, there are programs that provide assistance with Medicare costs for individuals with limited income and resources. The Medicare Savings Programs (MSPs) help pay for Medicare premiums, deductibles, and coinsurance. Additionally, the Extra Help program (also known as the Low-Income Subsidy) assists with prescription drug costs under Medicare Part D.
While some aspects of Medicare are free, others require premiums, deductibles, and co-payments. Most people do not pay a premium for Medicare Part A if they or their spouse paid Medicare taxes while working. However, Medicare Part B and Part D have monthly premiums, and private Medicare Advantage plans may have additional costs.
Yes, you can have other health insurance coverage alongside Medicare, such as employer-sponsored insurance, Medicaid, or a Medigap (Medicare Supplement) policy. It's important to coordinate your coverage to ensure maximum benefit and avoid unnecessary costs.
The "donut hole" refers to a coverage gap in Medicare Part D prescription drug plans. Once you and your plan have spent a certain amount on covered medications, you enter the donut hole, where you're responsible for a higher percentage of the drug costs. However, the coverage gap has been gradually closing, and you'll pay a smaller percentage for brand-name and generic drugs while in the donut hole.
We have most of the Medicare rates and plans available for Kissimmee, Winter Garden, Orlando and all of Florida
Roger Fishel Financial
Orlando, Tampa, Ocala, Kissimmee, Winter Garden, Lakeland, and all of Florida and Beyond
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