Jan Knight, Medicare Insurance Agent
Jan Knight
Nationwide Senior Benefits
Medicare Agent Licensed in FL, AL, CA, CO, DC, GA, IN, MA, MD, MI, NC, NE, NH, NJ, NY, SC, TN and TX
Contact Details
-
Location
Lake Wales, FL
-
Phone
-
Website
-
Schedule An Appointment
-
LinkedIn
-
Facebook
Jan Can Help With:
About Me
Medicare is confusing! Let me help you walk through the process - from enrolling in Medicare to learning about your options for Medicare plans. I have been helping clients with their Medicare choices for 25 years. I am an independent insurance agent so I can objectively help you weigh your choices.
Q&A with Jan Knight
How much do agents charge to help clients to enroll
Answer: Agents don't charge a fee to help clients enroll in a Medicare Supplement or Medicare Advantage plan. The company you choose will pay a commission for helping you enroll and providing service.
What is the biggest mistake seniors make when enrolling in Medicare?
Answer: The biggest Medicare mistake that some seniors make is failing to enroll on time. The late enrollment penalty is for life. This applies to both Part B and Part D. Know your dates!
If I have been on disabilty due to an accident, do I qualify for Medicare Insurance?
Answer: When you have been on disability for two years, you will automatically be enrolled in Medicare. You'll receive your Medicare card in the mail. That will be your cue to look into Medicare insurance.
I am moving to a different county in my same state, should I look at getting a new Medicare plan?
Answer: That really depends on what type of Medicare plan you currently have. If you are on a Medicare Advantage plan and move out of your service area, you be disenrolled when you notify them. You'll have a Special Enrollment Period to choose a new plan in your location. If you have a Medicare Supplement, you'll want to notify them of your move. Your premium is probably based on your zip code, as well, so ask them if there will be a change in what you'll pay.
What role do annuities play in retirement planning?
Answer: It can be a challenget to explain all the roles an annuity might play in a retirement plan, but here's a list of some common ones:
1) Similar to a CD offered by a bank, and a Fixed Annuity can provide a guaranteed rate of return for a set period of time. Some Fixed Annuities provide a guaranteed rate for a longer period than cd's typically offer.
2) Money in an annuity grows tax-deferred. You don't receive a 1099-INT form at the end of each year for an annuity, unless you withdraw money from it. Tax-deferral shouldn't be the sole reason for purchasing an IRA in an annuity, because the IRA already has tax-deferral. There can be other reasons for having an IRA in an annuity, though, including-
3) Annuities can be designed to provide a guaranteed stream of lifetime income. Sometimes referred to as a 'Personal Pension Plan', an annuity with a Lifetime Income Rider (attachment) will continue to provide income even if the account balance falls to zero.
4) Long Term Care funding vehicle. These "hybrid" annuities are designed to help pay for an extended health care need. Some contracts continue paying an amount for a Long Term Care need that exceeds the original amount deposited into the annuity.
There are other ways annuities can be utilized in retirement planning- estate planning for one- but these are some of the reasons my clients purchase annuities. This information is provided for educational purposes, and you are encouraged to consult with a financial professional about the role an annuty might play in your personal retirement plan.
How does the Part D "catastrophic coverage" phase work once I hit the out-of-pocket max?
Answer: When you hit the out-of-pocket max for prescriptions ($2,000 for 2025 and $2,100 for 2026), you will not pay any copays for the remainder of the year. It is important to know that if a medication is not included in your plan's formulary, it will not be included for the max-out -of-pocket calculation.
Can I switch from a Medicare Advantage plan to a Supplemental/Medigap plan during the Annual Enrollment Period without answering health questions?
Answer: You can only sign up for a Medicare Supplement/Medigap plan without answering health questions under a few circumstances. These include:
1) You're in your first 6 months of Part B enrollment
2) You've in a Medicare Advantage plan and still in the first year of enrolling in it. (Also called a Trial Right)
3) Two lesser known situations:
- You move out of the service area of your Medicare Advantage plan, or
- Your Medicare Advantage plan terminates your plan without cause
What are the reasons why I should work with a Medicare agent?
Answer: Working with an independed Medicare agent is important for a few reasons. An independent agent will have access to a number of insurance companies and rates, so you can shop for the one that fits you best. Working with an independent agent isn't more expensive- you will pay the same premium whether you utlize their help or not. The compensation to the agent is nearly the same, regardless of the company you choose, so an independent agent will not have a bias towards a particular company. My clients choose to use an independent agent because like to have options and personalized advice.
Does IRMAA go away automatically if my income drops, or do I need to report it to Social Security?
Answer: The IRMAA surcharge is based on your income 2 years ago. So for someone's 2025 Part B premium, they are referencing your Modified Adjusted Gross Income in 2023. If your income today is less than it was in 2023, you should file form SSA-44, which is the IRMAA appeal form. I would file a form SSA-44 if your income drops and not rely on Social Security to make adjustments on a timely basis.