Medicare Advantage, Medicare Supplement (MediGap), and Medicare Prescription Drug (PDP) Insurance
There are different types of Medicare health insurance plans including Medicare Advantage Prescription Drug Plans (MAPD), Medicare Supplement (MediGap) Plans, and Medicare Prescription Drug Plans (PDP). Most newly eligible Medicare beneficiaries receive a lot Medicare advertisements in the mail. Those already on Medicare plans, may also receive Medicare marketing mail during the annual election period. Medicare consumers are protected from solicitor phone calls, emails, or coming to your house. Medicare consumers can request assistance from a Licensed Insurance Professional. The Scope of Appointment Form is the universal form in use by Medicare beneficiaries to give permission for an agent to call on them to help with Medicare information, and enrollment. The form is collected by your agent only once, the first time they tell you about Medicare Advantage plan details. Agents can provide you Medicare Advantage details two days after the beneficiary signs the Scope of Appointment Form. The Scope of Appointment forms are below for Paris Laughlin and Stuart Ouellette. Please complete, and return the signed Scope of Appointment form for your agent, and we will contact you with specific details about Medicare Advantage Prescription Drug Plans.
What is Medicare
Medicare is the federal health insurance program for people who are 65 or older, certain younger people with disabilities, or people with end-stage renal disease.
There are different parts of Medicare to help cover specific services
- Part A covers inpatient hospital stays, care in a skilled nursing facility, hospice care, and some home health care.
- Part B covers certain doctors' services, outpatient care, medical supplies, and preventive services.
- Part C combines Parts A and B and often part D as well, and is purchased from a health insurance company. Part C is the Medicare Advantage Prescription Drug Plan, and is an "all in one" alternative to Original Medicare. These "bundles" plans include Part A, Part B, and usually Part D.
- Part D adds prescription drug coverage to Original Medicare, some Medicare Cost Plans, some Medicare Private-Fee-for-Service Plans, and Medicare Medical Savings Account Plans. Part D plans are are offered by insurance companies.
Medicare Income Related Monthly Adjustment Amount (IRMAA) for Medicare Parts B and D
Most people will pay the standard premium amount for Medicare Parts B and D. If your modified adjusted gross income is above a certain amount, you may pay an Income Related Monthly Adjustment Amount (IRMAA). Medicare uses the modified adjusted gross income reported on your IRS tax return from 2 years ago.
What Medicare Plans are available
Original Medicare offers coverage for services and supplies that are considered to be medically necessary, such as doctor visits, lab tests and wheelchairs. There are several alternative plans you can choose from for additional coverage, and each plan must offer at least the same coverage as Original Medicare.
- Medicare Advantage Plan, also known as Part C, combines Part A and Part B as a replacement to Medicare for more comprehensive health care coverage. We offer Medicare Advantage Plans in Oregon and SW Washington from a variety of carriers. Complete and return the Medicare Scope of Appointment below if you would like us to contact you with details about Medicare Advantage Plans.
- Medicare Supplemental Plan, also known as Medigap, has a higher premium but supplements the coverage gaps and deductibles that Part A and Part B leave behind. We offer Medicare Supplement (MediGap) plans from Moda Health Plan, Providence, and Regence BlueCross. Medicare Supplement plans do not require the Scope of Appointment.
- Medicare Prescription Drug Plan (PDP). We offer Medicare Advantage Prescription Drug plans from a variety of carriers. There are also many other Medicare Prescription Drug Plan at the Medicare website. Medicare Prescription Drug Plans require us to collect the Scope of Appointment form.
How to Prepare for Medicare
We recommend that you begin preparations for Medicare 6 to 12 months in advance. Part of the Medicare planning process is making choices, and you will want to take your time to make your transition to Medicare a pleasant experience. Ask yourself some questions:
- Will you continue to work?
- Will you take Social Security Income at age 65?
- Do you plan to travel?
- Do you have health needs or expensive prescriptions?
- Does your medical providers accept the plan you want?
- Do your providers accept Original Medicare?
Setting up your Medicare A & B and Health Plan
Once you have an idea about what you want, then you must make the next step - enrollment. The usual setup Medicare are listed below:
- Apply for Medicare parts A & B online at the Social Security website here. If you enroll in your Medicare on the Social Security website, be sure to save a copy of the enrollment confirmation, or write down the enrollment confirmation number. If you can't enroll in Medicare parts A & B online, then you will need to contact the local Social Security office by calling (800) 772-1213
- Review health plan options with our agent about 2-3 months in advance of your Medicare Initial Election Period
- You can complete your application for coverage with your agent about one month in advance, to allow for processing
- Pay your first premium to activate the new Medicare plan
- You can have your Medicare Advantage premium taken from your social security check, if you are taking social security income
Selecting and enrolling in your Medicare Health Plan
Once you have set up your Medicare part A and B and decided if you want to take your social security income or not, then you will be ready to review and enroll in a Medicare Advantage Prescription Drug Plan, or a Medicare Supplement (MediGap) Plan, and a separate Medicare Prescription Drug Plan (PDP). Below are some popular Medicare plans that we represent, and some will allow you to enroll online after review with agent.
We represent numerous leading Medicare Advantage, Medicare Supplement, and Medicare Prescription Drug plans.
Call us if you have questions or need assistance with your Medicare (503) 282-0827.