Robert Moore, Medicare Insurance Broker

Answer: Imagine having a reliable stream of income flowing in during your retirement. That's the magic of annuities! You can purchase an annuity with a lump sum or through regular payments, and it can provide a guaranteed income stream throughout your retirement. Some annuities even offer lifetime income, meaning you'll receive regular payments no matter how long you live. This can be a game-changer for supplementing Social Security and other retirement income, allowing you to live comfortably and worry-free.

Answer: Life insurance acts as a financial safety net for your loved ones if you're no longer around. It can help cover essential expenses like mortgage payments, outstanding debts, funeral costs, and even those looming college tuition bills. Think of it as a way to ensure your family's future remains bright, even if you're not there. It’s a crucial part of responsible financial planning and estate planning.

Answer: Medicare Advantage can be a cost savings for many seniors. With drug, vision, and dental care included, many people who are budget conscious can take advantage of this.

Answer: Unfortunately you cannot lower your part B premium. There are ways to reduce the burden of part b. If you fall below a certain monthly income you may qualify for medicaid and they will pay your premiums in some scenarios. Also you can enroll in certain medicare advantage plans that can reimburse you for portions of your part B premium.

Answer: Delaying social security does not affect your Medicare benefit. However, if you retire at age 65 and delay your Medicare there will be penalties if you do not have credible coverage from 65 to 70.

Answer: Medicare Parts A and B will cover certain drugs. There are stipulations of course. The best way to be certain is to call the Centers for Medicare Services or your local Medicare broker.

Answer: The best way to prepare for long-term care is to purchase a long-term care policy outside of medicare.

Answer: This truly reduces the burden on members. And, if you are unable to pay that total you can enroll in the monthly payment program.

Answer: Currently there will not be a donut hole going forward. So what this means for you is after you meet the $2000 max out of pocket you will no longer be paying for your medications.

Answer: As long as the doctors accept that medicare advantage carrier. Like group health insurance, there are several different types of coverage (HMO, PPO, PFFS...). So reviewing the provider network before selecting a carrier will be very important.

Answer: There are times that you can make a change on your plan. Open Enrollment which is from January 1st through March 31st. This gives you the chance to switch to a plan that is equal to the plan you have (medicare adv to medicare adv -Medigap to Medigap) or return to Original medicare. You also can make a change during a Special Enrollment Period. If you have experienced a life changing event (moved to where your current coverage is not, loss of qualifying coverage, enrolled in medicaid) or if your governor declares a state of emergency in your county and state. Unfortunately if you think you made a mistake with the coverage you chose and it is outside of these specific periods, you will have to wait until Annual Enrollment which starts Oct 15th.

Answer: Technology is hard to keep up with. I believe that CMS tries to keep up things that change in that aspect. However, I do believe that some of the policies and procedures are a bit outdated.

Answer: Depending upon the carrier and the Medicare Advantage plan, you can save money. However, I may recommend that you choose a stand alone dental plan for yourself if your current situation calls for it.

Answer: It's possible. Medigap plans may have been a better option for you at the time. Your current situation, type of ailments, and your doctors play a key role in making a sound decision.

Answer: Yes, if you have Original Medicare (Part A and Part B), it generally covers emergency care when you're traveling in U.S. territories like Puerto Rico. This is because U.S. territories are considered part of the U.S. for Medicare coverage purposes.

Answer: Credible coverage is insurance or drug coverage that covers what Medicare would normally cover or more. So for example, your spouse has group health insurance at work. This coverage covers doctors visits, emergency care, and covers basic prescriptions like penicillin, high blood pressure medications, and basic steroids. If the group coverage does not do that, then it is very possible that you do not have credible coverage.

Answer: No. Medicare is only for your health care needs. Many providers of Medicare Advantage plan have a "over the counter" card available that can help you with small purchases of healthy foods. We can discuss this at detail. Call us at 317.586.2324

Answer: Yes it should have. I’m not sure if you did this over the phone or not. You can do something about it. If this specialist is one that you rely on and is instrumental in your health, you can ask your carrier for an exception. Or you can ask your doctor to contract with your carrier. Usually the latter is the easiest way.

Answer: Yes you can. When you lose credible coverage or are 65 and signing up for the first time that is called your initial enrollment period (IEP). This is the time that you do some research in the companies that provide a Medigap plan and the costs of the plan. Finding the right plan is paramount in long term health. Getting with an experienced and trusted Medicare broker will be the key to finding the proper plan for you.

Answer: I get asked this question a lot. Medicare does not cover regular eye exams. Medicare will cover the cans that are medically necessary that are part of extreme health conditions. So if you wear glasses or contacts to correct your vision, you will need coverage that will help you with that. Most Medicare Advantage plans have vision coverage a part of their offerings. If you have original Medicare by itself or an additional Medigap plan you will need to add an additional plan that covers vision. Most additional plans will cover vision and dental. Before you get frustrated, talk to someone that can help you.