Irma Lopez, Medicare Insurance Broker

Answer: Zero premium doesn’t mean zero cost because there are costs associated with the plans. Every beneficiary should be very well informed of the co-pays, deductibles and maximum out of pocket amounts for the desired plan.

Answer: The answer depends on your special circumstance. If you don’t need the funds and can wait until you’re 70 years old then wait to obtain the maximum amount available to you.

If you decide to receive your Social Security benefits early at age 62 you have to keep in mind that you will only be able to earn $24,000 for the year in wages so that you don’t get penalized from your Social Security benefits.

The answer depends on your own circumstances.

Answer: Both plans offer different Benefits. One of the main differences Is that most advantage plans usually doesn’t have a monthly premium and it includes a drug plan, dental, vision & hearing.

The Medigap plans on the other hand, have A monthly premium, does not include the drug plan but you are not limited to a network of doctors as the advantage plans are. The Medigap is not a yearly plan. As long as you pay the monthly premium, the plan stays active.

Answer: I would say it would be that the plans are only written for 1 year. Beneficiaries need to be always on top of annual updates.

Answer: If Ozempic is being used for obesity then Medicare will not cover it. However, if it is used, (prescribed by a Dr.) to help diabetes type 2,then it will. Having said that, it is always wise to check your plans, stipulations and or restrictions..

Answer: You have the option of signing up to a Supplement Plan (Plan G or N) to help with copays and deductibles. Supplement Plans have a monthly premium attached.

Answer: We should highlight some of the benefits that Medicare advantage plans provide. They are beneficial because Medicare alone doesn’t provide benefits like dental hearing and vision. Some plants include prescription drugs as well. Medicare advantage plans offer a maximum out-of-pocket amount.

Answer: Yes, many Medicare advantage plans offer extra benefits like an OTC spending card to purchase over-the-counter drugs. The plan will allow a set monthly or quarterly amounts (depending on the plan) where beneficiaries can use for this purpose. Some plans allow rollovers where the unused amounts rollover to the next period (monthly/quarterly) but some don’t. You’ll need to discuss the different plans available offered in your area, that would best suit your needs.

Answer: I would recommend you contacting your state's Medicare office or visit your Social Security Administration Website to apply for the Extra Help Program. This program aims to substantially assist you with your prescription's drugs out of pocket costs.

Answer: At retirement the importance should be placed in principal protection and growth. These can be accomplished by looking into indexed annuities. If the market suffers a loss, your principal will not be affected. On the other hand, if the market goes up, your investment will grow.

Answer: One trend is the ability to sign up for a Medicare Advantage plans (some with $0 premium). These plans offer additional benefits such as dental vision & hearing coverage.

Answer: Telemedicine has been a great tool for people in remote areas or those who do not have a mean of transportation. These video conferencing sessions offer convenience and fast resolution to a health problem from the comfort of your own home. It enhances personalized service because it's still face to face (even though it's through videoconference) with your doctor.

Answer: Underwriting is required if you don’t enroll during the Open Enrollment which is 3 months before you turn 65 or by no later than 3 months after your birthday.

Answer: Creditable coverage refers to the comparison of private insurance coverage through an employer that provides at least as good as the standard Medicare part D benefit. If you are receiving benefits from your current employer or from your spouse’s employer, that is as good as the Medicare part D benefits, then you shall not be penalized for not enrolling during the initial enrollment period. Once your private insurance cease you can enroll in Medicare Part D or a Medicare Advantage Plan with Prescription through a Special Enrollment process.

Answer: Becoming a resourceful asset for those who don’t know where to begin is what I like the most about being an agent. My clients are not a number, they’re individuals looking for answers. A satisfied beneficiary is my reward.