Weighing the best Medicare plans is essential to your financial health in your later years. If you are 65 or older, you probably have some questions about supplemental coverage: Do you know how much coverage you need? Do you know how to find the best companies and the right coverage for you? We are a licensed health insurance agent. We are a wealth advisor. We can help.
We Can Help You Close the Medigap
It can be hard to shop for Medicare plans that meet your needs. So many companies, so much information. Turn to us for answers. We will help you choose the best coverage at the right price. Our company's founder, Tim Geisbauer is not only a Certified Financial Planner™ certificant, he has long been licensed to do health insurance. He and his team believe strongly that choosing the right insurance coverage should be an integral part of your wealth management strategy, as it can affect your retirement income.
We can help you fill out and submit your application. There is no need for you to shop around among companies and plans – we do it for you and show you all your options.
Get Started Now
You may have insurance now through an employer, a spouse, or your own plan; or you may need to rely on government-funded plans. No matter what your situation, we can tell you this: the longer you wait to sign up after age 65, the more expensive it becomes to take advantage of Medicare plans. There is a premium hike for those who start late. Discuss your needs with our office as soon as possible.
We can also help you shop around for long-term care insurance in case you develop a chronic illness. There are dedicated plans as well as those that are combined with life insurance policies. Let us help you choose wisely.
The Basics of Medicare Plans
These plans are offered to seniors by private companies that agree to contract with the Medicare program. There are several levels and parts to the program. Services that are covered depend on federal and state laws, coverage decisions that are made at the national level, and coverage decisions that are made by companies that process claims for Medicare plans in specific areas.
At the most basic level, supplemental insurance covers hospital and urgent care. From there, different programs will offer different types of coverage – deciding which services are medically necessary and covered, and which are not medically necessary and must come out of your pocket.
Medicare health plans include:
- Medicare Cost
- Medicare Advantage
- Demonstration and pilot programs
- All-inclusive care for the elderly (PACE)
Medicare Plans - Part A
In general, Part A covers care in a hospital, skilled nursing facility, home health services, and Hospice care. Some plans include wellness, dental, hearing, vision and prescription drug coverage (known as Part D).
The plan may not pay for services that aren't medically necessary under Medicare. If you're not sure whether a service is covered or not, check with your provider before you get the service. It is important to remember that if your plan does not consider a procedure medically necessary, you might have to pay out of pocket. Of course, you have the right to appeal such a decision.
Medicare Plans – Part B
This component covers two kinds of services: preventive, which aims to prevent illness or detect it early on; and medically necessary services that serve to diagnose and treat a medical condition. It also takes care of ambulance service, outpatient care, mental health, durable medical equipment, clinical research and permission to obtain a second opinion prior to surgery.
Medicare is not affected by implementation of the Affordable Health Care Act (Obamacare). But getting the right coverage can save you a lot of money and protect you from the high cost of medical services in your senior years. You should be able to hold on as much as possible to the money you have earned after many years in the workforce.
Are you in the market for Medicare plans? Call our comprehensive wealth management team now and let us do the comparisons for you.
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