assetpreservationstrategies

Is Original Medicare Free

jacob@bestadvicemedicare.com (Jacob Torres) — Tue, 01 Jun 2021 16:40:40 GMT

Original Medicare has two parts

Medicare Part A is your hospital insurance, and you usually don’t pay a monthly premium if you or your spouse paid Medicare taxes for a certain amount of time while working. Medicare Part B is your medical insurance. The standard Part B premium in 2021 is $148.50. You can pay more based of your reported tax returns from 2 years ago and IRMAA rules. For people with low income who cannot afford to pay the monthly Part B premium there is federal/state programs that can help you with your premiums, co-pays, co-insurance, and deductibles if you meet all the requirements.

If you have questions regarding IRMAA, federal/state programs, or if you want a plan that best fits your needs, health, and budget. Call me at 727-688-3330 for a free phone consultation.

If you didn’t know. Now you know.

Jacob Torres with Best Advice Medicare

Medicare Part B Penalty | This Decision Will Help Or Hurt Your Future

jacob@bestadvicemedicare.com (Jacob Torres) — Wed, 21 Apr 2021 15:04:28 GMT

Why signing up for Medicare Part B is important.

If you didn’t get Medicare Part B when you first became eligible, your premium for Part B will increase by 10% for each full 12-month period you could have had Part B, but didn’t sign up. The penalty is for life, so if you didn’t have part B coverage for 3 years you will have a 30% Part B penalty plus your Part B premium.

If you have creditable coverage through your employer and you meet certain conditions that allow you to sign up for Part B during a Special Enrollment Period; usually, you don’t pay a late enrollment penalty.

Call me at 727-688-3330 if you have questions or if you want to schedule a free consultation.

If you didn’t know. Now you know.

Jacob Torres with Best Advice Medicare

10 Things to know about Medicare Supplemental Policies Part 4

jacob@bestadvicemedicare.com (Jacob Torres) — Wed, 07 Apr 2021 13:44:45 GMT

Why Medicare Supplement is a great option

In the United States, Medicare is a health insurance program, managed by The Centers For Medicare and Medicaid Services. Medicare Parts A, B, C, and D were created for individuals age 65 years or older, younger people with disabilities and people with End Stage Renal Disease.

Here are the next two things you need to know in our four part series:

9. It’s illegal for anyone to sell you a Medigap policy if you have a Medicare Advantage Plan, unless you’re switching back to original Medicare.

10. Nationwide coverage with no network restrictions. You can see any doctor or specialist in the United States as long as they accept Medicare.

Call me at 727-688-3330 if you have questions or if you want to schedule a free consultation.

If you didn’t know. Now you know.

Jacob Torres with Best Advice Medicare

10 Things to know about Medicare Supplemental Policies Part 3

jacob@bestadvicemedicare.com (Jacob Torres) — Fri, 02 Apr 2021 22:53:07 GMT

Know your rights

Although Original Medicare pays most of the cost for hospital stays and doctor's office visit, you are still responsible for copays, coinsurance and deductibles depending on the service you need. Here's how to make the most of your Medicare Supplement plan.

Here are the next two things you need to know in our four part series:

7. You have a guaranteed issue period when you first signed up for Medicare Part B. The health insurance company you select can not deny you if you have a preexisting health condition. If you are healthy and become sick in your later years they can not void your policy.

8. You can buy A Medicare Supplement policy from any insurance company that’s licensed in your state to sell one.

Call me at 727-688-3330 if you have questions or if you want to schedule a free consultation.

If you didn’t know. Now you know.

Jacob Torres with Best Advice Medicare

10 Things to know about Medicare Supplemental Policies Part 2

jacob@bestadvicemedicare.com (Jacob Torres) — Wed, 31 Mar 2021 21:21:09 GMT

Evaluating your Medicare Supplement Choice

When you sign up for a Medicare Supplemental policy, also known as Medigap, it’s important to choose the one that is right for you. You may be tempted to simply pick the plan that has the most features or the lowest premium. But like most things in life, there are trade-offs.

Here are the next 3 things you need to know in our 4 part series:

4. A Medicare Supplement policy only covers one person. If you and your spouse both want Medicare Supplement coverage, you’ll each have to buy separate policies.

5. You can buy A Medicare Supplement policy from any insurance company that’s licensed in your state to sell one.

6. When you buy a Medicare Supplement Plan there is three things you want to look at:

Your starting rate.
The insurance company rate increase record for the past 10 years.
The insurance company financial stability.

Call me at 727-688-3330 if you have questions or if you want to schedule a free consultation. If you didn’t know. Now you know.

Jacob Torres with Best Advice Medicare

Best Advice Medicare Client Spotlight. How Do You Compare to Manny?

jacob@bestadvicemedicare.com (Jacob Torres) — Wed, 24 Mar 2021 16:11:40 GMT

We recently sat down with Manny to ask two simple questions. Why did you choose Best Advice Medicare to help with your Medicare planning, and why did you choose a Medicare Advantage plan⸺Aetna Medicare Assure?

Manny: Best Advice Medicare was highly recommended by Dr. Palanca's Office , and after meeting Jacob, I was amazed at how he simplified all the Medicare options and helped me make the best choice.

The Aetna plan had my doctors in the network and covered all my medications at the lowest cost in the Medicare market. You can’t beat that.

Wondering what plan is right for you?

Call 727.688.3330

If you didn't know, now you know!

10 Things to know about Medicare Supplemental Policies Part 1

jacob@bestadvicemedicare.com (Jacob Torres) — Thu, 18 Mar 2021 16:17:16 GMT

Maximizing Medicare

Original Medicare pays most of the cost for hospital stays and doctor's office visit. However, it doesn’t pay the entire bill. You will be responsible for copays, coinsurance and deductibles depending on the service needed. Here’s how to make the most of your Medicare Supplemental policy.

Medicare Supplement Plans work with Medicare Part A and Part B.
You pay a private insurance company a monthly premium for your Medicare Supplement policy; in addition, to the monthly Part B premium that you pay to Medicare.
A Medicare Supplement policy is different from a Medicare Advantage Plan. When you decide to get a Medicare Advantage plan you are opting out of Original Medicare and you will be using a Private Insurance Company as your primary insurance. In addition, you are still responsible for your Part B premium.

Call me at 727-688-3330 if you have questions or if you want to schedule a free consultation.

If you didn’t know. Now you know.

Jacob Torres with Best Advice Medicare

Medicare Planning 1-2-1 Six Step Agenda

jacob@bestadvicemedicare.com (Jacob Torres) — Wed, 10 Mar 2021 15:37:27 GMT

Feeling lost regarding your Medicare options? You are not alone.

Overwhelm with your Medicare options. Don’t know whether to choose a Medicare Supplement or Medicare Advantage plan? Our six step agenda can help.

Introduction
Your needs and wants
Medicare Part A
Medicare Part B
What Medicare doesn’t cover
Your Options

Let Best Advice Medicare walk you through the Medicare Planning process.

It is understandable if you are indecisive about what option to take. Let us work together. I have over 7 years of experience helping consumers like you understand your rights and options. The best part about our visit is that you do not have to pay me a penny. Once we review the pros and cons of the decision you have chosen, the Insurance Company we selected will pay me a commission. If you have questions or want to schedule a meeting call me or text me on my cell phone @ 727-688-3330.

Best Advice Medicare

What’s Medicare Supplement Insurance, Medigap?

jacob@bestadvicemedicare.com (Jacob Torres) — Wed, 24 Feb 2021 17:24:31 GMT

Medicare Supplement Insurance covers the gaps that Medicare Part A and Part B have.

That is why many people call it Medi-Gap insurance. Original Medicare pays for most of the cost for your health care services and supplies, but not the entire bill. Your supplement Insurance policy can help pay some of the remaining health care costs, like:

Copayments
Coinsurance
Deductibles

Some Medigap policies also cover services that Original Medicare doesn’t cover, like emergency coverage when you travel outside the U.S. If you have Original Medicare and you buy a Medigap policy, here’s what happens:

Medicare will pay its approved share, of the Medicare approved amount, for covered health care costs.
Then, your Medigap policy pays its share.

What makes this complicated is that you have 10 Medigap plans to choose from and dozens of companies to select from.

Let us work together. I have over 7 years of experience helping clients understand their rights and options. Call me at 727-688-3330 if you have questions or if you want to schedule a free consultation.

If you didn’t know. Now you know.

Jacob Torres with Best Advice Medicare

How to Enroll into Medicare: Two Different Scenarios

Thu, 11 Feb 2021 17:38:12 GMT

Receiving Social Security Benefits

If you are already receiving social security benefits you will automatically be enrolled into Medicare Part A and Part B when you turn 65 years old (the first of the month).

Enrolling in Part C and D-you will still need to select and enroll.

Not Receiving SS Benefits?

If you are not currently receiving social security benefits you will not be automatically enrolled in Medicare.

You must sign up during a Medicare enrollment period.

First Option: Your Initial Enrollment Period

Second Option: Special Enrollment Period

Third Option: General Enrollment Period

If you need help understanding your options please give us a call at 727-688-3330.

Compare Medigap Plans Side-by-Side

Thu, 04 Feb 2021 17:29:49 GMT

Medicare.gov compares Medigap plans side-by-side

The chart below shows basic information about the different benefits Medigap policies cover.

Chart Guide

Yes = the plan covers 100% of this benefit
No = the policy doesn't cover that benefit
% = the plan covers that percentage of this benefit
N/A = not applicable

Original Source: Medicare, 2021.

* Plans F and G also offer a high-deductible plan in some states. With this option, you must pay for Medicare-covered costs (coinsurance, copayments, and deductibles) up to the deductible amount of $2,340 in 2020 ($2,370 in 2021) before your policy pays anything. (Plans C and F aren't available to people who were newly eligible for Medicare on or after January 1, 2020.)

** For Plans K and L, after you meet your out-of-pocket yearly limit and your yearly Part B deductible, the Medigap plan pays 100% of covered services for the rest of the calendar year.

*** Plan N pays 100% of the Part B coinsurance, except for a copayment of up to $20 for some office visits and up to a $50 copayment for emergency room visits that don't result in inpatient admission.

If you need help understanding your options please give us a call at 727-688-3330.

What is Medicare? Who is eligible? Four parts of medicare, and who pays for health care?

Thu, 21 Jan 2021 19:08:23 GMT

What is Medicare?

Medicare is a national health care program for individuals who are 65 and older. It is through center of Medicare and Medicaid services and paid through the Social Security Administration.

Who is Eligible?

65 and older
US citizen or legal resident in the USA for at least 5 years.
65 and younger may be eligible with underlining disability.

The 4 Parts

Part A cover part of hospital insurance.
Part B covers Medicare services such as office visits.

Part C and D is where Private Insurance comes into play

Part C

Medicare Advantage Plans

Medicare pays flat payment to the private insurance company

Part D

Medicare Prescription Drug Coverage

It is important to enroll as you may face penalty if you do not enroll.

Who Pays for Health Insurance?

If you are under 65:

Employer
Retiree Plan
Cobra
Individual Plan

After you turn 65:
Medicare usually pays first.
Primary insurances then become secondary

Note: Unless you are still working and the employers group plan has 20 or more employees OR if your spouse is still working.

If you need help understanding your options please give us a call at 727-688-3330.