Dina Todd, Medicare Insurance Broker

Answer: Your plan should be reviewed yearly. Plans can change from year to year. It should also be reviewed when network changes are announced. Your physician could be out of network when contracts are not renewed with your insurance carrier. If you have an insurance broker, they can help you stay aware of any changes and navigate your options.

Answer: Medicare Parts B and Part D have a timeframe in which to enroll in Medicare once you become eligible. The only way to avoid these penalties is to still be covered on an insurance plan when that window opens or enroll in Medicare when eligible.

Answer: Most Medicare plans will cover preventative services. Medicare Advantage plans have plans that will specialize with Diabetic care.

Answer: Check them out with the North Carolina Department of Insurance. The North Carolina Department of Insurance, NCDOI can look up an agent and let you know if they are actively licensed in the state.

Answer: If properly done, yes they are. They are meant to be educational. If you look for a Medicare agent that is independent, they can explain all the parts of Medicare, as well as, explain the different benefits of different plans. Agents/Brokers can sit down with you one on one to go over the information you are needing.

Answer: During AEP, you should review your current plan, doctors and prescriptions you take. Make sure your doctors are staying in network with your current plan. I would also look at other carriers to see if there is better coverage options available. Other than that, if you are happy with your current plan, then there is nothing you really need to do. If you work with a Medicare broker that is appointed with multiple carriers, they can look over everything for you and guide you in a beneficial decision.

Answer: The only reasons your Medigap insurer can terminate your policy is for nonpayment or if you provided fraudulent information on your application. Changes in your health is generally not a valid reason to cancel your policy. If your policy is cancelled for other reasons, such as the company going bankrupt, you have a guaranteed right to buy another policy without medical underwriting.

Answer: One of the biggest mistakes seniors make when choosing a Medicare Part D plan is they don't check all their medications on the plans before making a decision. They only check the one or two they are concerned with. Another mistake they make is not checking different pharmacies on the plan and compare costs between the pharmacies.

Answer: Medicare can be very confusing and overwhelming. Agents and brokers can help navigate through the different parts of Medicare. Brokers can show you all your options to help you decide which is the best option for you.

Answer: You may be able to deduct Medicare premiums as a retiree by itemizing deductions if your total qualified medical expenses exceed 7.5% of your adjusted gross income (AGI). This includes premiums for Parts B, D, C (Medicare Advantage), and Medigap plans, as well as other medical costs. This also depends on your tax situation and other deductions you take on your taxes. If you don't do a lot of tax deductions on your taxes, it may not be worth deducting your Medicare premiums.

Answer: Medicare Part D is a prescription drug plan. Medicare Advantage, depending on the plan has a built in Part D coverage in the plan. Which is better depends on if you get a Medicare supplemental plan, have straight Medicare parts A and B, or the Medicare Advantage with Part D built in. It really comes down to what you require for your situation and medical needs.

Answer: There are $0 premium Medicare Advantage plans. These are not a gimmick or clever marketing schemes. You have to look at the benefits each plan offers. They also have plans that are $0 premium for specific care needs. Brokers can show you side by side different plans with different carriers.

Answer: You can use your HSA funds to pay your Medicare premiums and other qualified medical expenses. But, once you enroll in Medicare, you are no longer able to contribute to your HSA.

Answer: You should be able to go to your insurance website and search for in network doctors. You can also call the customer service number to inquire. If you have an insurance agent, they can obtain this information as well.

Answer: Working with older people to make informed choices. I don't rush them or do pressure tactics. I take my time showing them all their options to make informed choices that best suits them.

Answer: It depends on the medications you are taking. The plan your friend is on may work for them because of the medications it covers. An agent would have to look at your medications to find your best coverage options.

Answer: Generally speaking, the later you wait to start collecting social security, the more your monthly payments will be. The only thing you should factor in to change when you start collecting social security is your health status.