Medicare covers a large portion of the population. 85% of beneficiaries are seniors and 15% have a disability. Reach out to Better Insurance Management to learn how to optimize your approach to Medicare and make plans for the future you.
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What Does Medicare
Do For You?
Medicare gives you hospital and medical insurance. Part A covers inpatient care in a hospital, skilled nursing facility care, hospice care, nursing home care and home health care. Part B covers medically necessary and preventative care.
How to Prepare
Learn about the different parts of Medicare and form an understanding of Medicare costs and enrollment. This will help you be informed and prepare for plan comparison when it comes time to enroll.
Write down your medical history. This will prepare you for your Welcome to Medicare visit during your first year with Medicare.
Contact an independent Medicare insurance broker to compare your Medicare plan options.
Medicare Part A and Part B have monthly premiums as well as deductibles, copayments and coinsurance. Part A charges you a deductible for each benefit period— this is the time between being admitted as an inpatient in a hospital or skilled nursing facility and when you have not received inpatient care for 60 days. The Part B deductible is a yearly charge.
Premiums for Part A are zero for many people. Medicare determines this based on how long you or your spouse worked while paying taxes to Social Security or if you qualify due to a disability or government employment. Premiums for Part B are based on your income. People with income higher than a set bracket will be charged an additional expense called the IRMAA.
Part A charges a daily coinsurance once you have spent 60 days in a hospital or 20 days in a skilled nursing facility. Part B charges copayment of 20% of the Medicare-approved amount for covered services once you have met your deductible.
Why Shop for Medicare Plans
There are many available plans in your region. Every year these Medicare Advantage, Medicare Part D and Medicare Supplement plans update their coverage and costs. It is important, especially with Part D, to make sure that the plan you sign up with will take care of you. Look first at the coverage you need, then compare plans for pricing.
How We Can Help with Medicare
Better Insurance Management is prepared to help you with all of your Medicare needs. Our team of Medicare experts is trained to find you the plan that best meets your healthcare and budgetary needs.