Christopher Hepburn, Medicare Insurance Agent
Christopher Hepburn
Bankers Life
Medicare Agent Licensed in PA
Contact Details
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Location
Williamsport, PA
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About Me
I’m dedicated to helping my clients protect their financial security as they prepare for retirement. I hold myself to the highest level of personal and professional integrity and promise only to recommend insurance product solutions that are in my client’s best interests.
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Q&A with Christopher Hepburn
What's the biggest frustration Medicare agents have when helping clients enroll?
Answer: It is concerning to agents, like myself, that some companies obscure the distinctions between Medicare Supplement (Medigap) plans and Medicare Advantage plans. Therefore, I prioritize educating my clients on these differences, enabling them to make well-informed decisions regarding their health coverage options.
For Medicare Part D, why would someone pick a plan with a high total cost?
Answer: Some higher-cost Part D plans offer larger formularies and lower co-pays at the pharmacy, which can be beneficial for clients with specific medication needs or higher prescription drug costs.
Can you help me understand Maximum Out-of-Pocket (MOOP) limits in Medicare plans, from your experience as an agent?
Answer: Maximum Out-of-Pocket (MOOP) limits are caps on the amount of money that Medicare beneficiaries must pay out of pocket for covered medical services within a calendar year. Once this limit is reached, the plan covers 100% of the costs for covered services for the rest of the year.
Medicare Advantage plans, also known as Part C, are required to set MOOP limits to protect beneficiaries from excessive medical expenses. These limits vary by plan but are regulated by the Centers for Medicare & Medicaid Services (CMS).
MOOP limits provide significant financial security by capping annual out-of-pocket expenses. This is particularly beneficial for individuals with chronic conditions or unexpected health emergencies, ensuring that they are not burdened by unmanageable healthcare costs.
Medigap plans, which are designed to cover some of the costs not covered by Original Medicare, do not have MOOP limits. Instead, they help pay for expenses such as copayments, coinsurance, and deductibles. While Medigap plans provide considerable financial protection, beneficiaries should compare the benefits and costs carefully to choose the best plan for their needs.