Harold Randolph, Medicare Insurance Broker

Answer: First, you should have a broker that can answer your questions and lead you to the right coverage for you.

If you are retiring and collecting Social Security you will need to start your part A and Part B. Once you have these, which is considered Original Medicare, you can start to choose between Part C (Medicare Advantage), or a Medigap. ‘

Answer: They have zero dollar premiums on most. Being free is a matter of perspective. You will still need to understand what your costs are, ie copays, deductibles and Coinsurance. A good broker can help you field these questions at no cost as well.

Answer: Medigap Plan K may cost half of Plan G but it has a 7K max out of pocket and cover half of what G does. If you’re healthy it’s a calculated risk. If you become not so healthy you may be stuck in a plan that will cost you out of pocket yearly vs having a G plan with about $250 out of pocket yearly.

Let’s discuss.

Answer: When it comes to flexibility the trade of is mostly network. In an HMO you have a smaller network but you pay a little less out of pocket. You will usually need a referral to see a specialist.

With a PPO you have a larger network and more option with doctors and networks and you pay a little more out of pocket for the convenience.

Reach out to your broker and get more comprehensive information pertaining to senior healthcare options.

Answer: Medicare doesn’t cover nursing home care. Medicare does cover the first 20 days of skilled nursing care. Afterwards there is a daily copay for being facilitated. There are options to prepare for the inevitability of needing rehab services.

Reach out to a broker to look at long term care and short term care options while you’re healthy.

Answer: Good Question. The overall cost of healthcare is a staggering number. The coverage gaps are there so that you provide some of the cost share. So the answer is yes.

Part A has a period deductible while Part B has a small annual deductible and an 80/20 coinsurance with unlimited out of pocket maximum.

It can become confusing with all the changes but reaching out and having a Broker can help make sure that feel less of the out of pocket with the right plans and options.

Answer: There are lots of educational events that are helpful! Most are as they give you the basic information for understanding the core elements of Medicare which are Parts A, B and D. I recommend you reach out to me or another broker in your area for a free 1 on 1 sit down. We do a needs analysis and answer all of your questions as to which route of options fit your situation best.

Harold Randolph

269.339.4433

MI, IN, OH, and KY

Answer: The short answer is no. Medicare advantage changes are generally only allowed during (AEP) annual enrollment period (Oct 15 - Dec 7). Then you get another chance to make one more change during (OEP) open enrollment period (Jan 1 - Mar 31). Any changes outside these dates need a special enrollment period (SEP) and a diagnosis of an illness isn’t necessarily a reason for one.

Medigaps are underwritten. If you have a serious illness you may not qualify. If you are still in your initial enrollment period (3 months before your birthdate, the month of, and 3 months after) of 7 months.

Harold Randolph

269.339.4433

MI KY IN OH

Answer: Low income subsidies are available if your income is below certain thresholds. Contact a broker and have them help you through the process and answer any specific questions you may have.

Hrandolph

2693394433

Answer: That’s easy!!

1.) Educated yourself on all things Medicare and keep up with the constant changes and variations.

2.) Get yourself a Broker who’s only loyalties lie to you.. the client. Not any corporation or business. A good, honest, trusted broker is invaluable.

Answer: Some people regret choosing medicare advantage, also known as Medicare part C, over original Medicare with a Medigap because of the out-of-pocket expenses.

People choose Medicare advantage because of the low cost upfront. Medical advantage includes additional benefits, like a drug plan, some limited dental vision and hearing. And the cost is zero dollars without a dental upgrade.

This may look enticing, and when you add a hospital indemnity to cover the out-of-pocket expenses for being hospitalized, it’s not a horrible plan. When compared to having a supplement, there are no surprise charges.

If you go with original Medicare, you will have to buy your own dental vision hearing, and the cost for a drug planer on top of the cost of the Medigap.

If you have additional questions, you can always reach out to a broker like myself.

Harold Randolph 269-339-4433 or you can email me at [email protected].

Answer: That’s pretty difficult to say most brokers have a team of people behind them to ensure that you get accurate service. Most brokers use a needs assessment to help you make more than just Medicare decisions.

If there is a difference for you, it would be that the broker does more explaining and teaching so that you are more equipped with information to make an intelligent decision about the future of your healthcare.

Answer: That’s a really well written question. The quick answer is co-pays and deductibles and max out of pocket numbers. I’m assuming that we’re going to compare a Medicare advantage to original Medicare and a Medigap plan G. If that’s the case then you pay a monthly premium for no surprise bills from copays, deductibles that exceed the Part B deductible. This year it’s $257. After that the medigap picks up your health cost.

With most Medicare Advantage plans you have a zero dollar premium. But you may have a max out of pocket amount of $9,350 for the year. So leverage your health, your income, do what’s going to cost you less.

Reaching out to a broker is always a good idea for things like this.

Randolph House

269.339.4433

[email protected]