Kevin Chaikin, Medicare Insurance Broker

Answer: I love the opportunity to provide a valuable service to my parents' generation which provided so much to me. It feels good to help people. I also always dreamed about owning my own business and the Medicare insurance industry has been a blessing to start and continue growing a business.

Answer: If you choose a PPO for flexibility you are usually exchanging that flexibility for potentially higher out of pocket costs (copays, coinsurance, MOOPs) and less "extra" benefits. On an HMO, for having to stay in network, you are typically rewarded with lower out of pocket costs and sometimes more extra benefits.

Answer: Medicare does not provide an annual physical but rather a wellness exam. If the doctor billed it as a physical then you will pay 100%. If you have a Medicare advantage plan the plan MAY cover an annual physical.

Answer: Because they pay more commission and lifetime commissions. Plus some companies incentivize MA sales for the agents.

Answer: In both cases we are reviewing Medicare 101 because even someone currently on a plan doesn't speak Medicare everyday. We make sure to cover the ABC's again and Medicare Supplement vs. Medicare Advantage and do a full needs assessment. We then are making a formal recommendation based on their new to Medicare needs or their current coverage needs. There's no reason to assume a current Medicare beneficiary won't benefit from the re-education - they may have been mis-educated in the first place!

Answer: Buying the "cheapest" coverage isn't something we would ever recommend though someone could opt for Part A only and most people pay $0/mo for that. It does however come with variable out of pocket costs with NO cap on total spending. A hospital indemnity policy could be added to that to pick-up more of the hospital costs along the way. What is still missing however is Medical (outpatient) and Prescription coverage. One should always assume they will pay at least the part B premium and perhaps could get by with a $0 Medicare Advantage plan to reduce total exposure but that would not be our advice for most people.

Answer: Yes on traditional Part B you would need to pay your deductible first. Then, depending on your supplemental coverage you may have additional copays and as little as $0 extra cost for Physical Therapy.

Answer: It is possible that Medicare won't cover this and you could be 100% out of pocket. This is why we always recommend umbrella Cancer coverage for those on Medicare. Of course, the exact details depend on the individual's situation.

Answer: First of all, it depends if the drug is covered by a Medicare Part D plan. Not all drugs are covered by all plans and formularies vary plan-to-plan. However, it if it IS covered, you will not spend more than $2,000 this year for all covered medications.

Answer: You should talk to a broker about your specific situation. While that is important to know about the bipolar disorder, you should look at your entire health picture to understand the best coverage for you. If you are on medications for bipolar disorder then shopping all plans in your market is important to understand how to lower your Rx costs. As far as medical goes, original Medicare with a supplement is generally going to cover more mental health providers than Medicare Advantage and can reduce copays if you see a therapist regularly. Like with everyone, Medicare is highly personalized so there is no "one-size-fits-all" solution.

Answer: Yes, whether you have traditional Medicare with a supplement or Medicare Advantage, hospice will be covered.

Answer: It depends but in most cases, probably not. First, you would need to find a valid enrollment period to switch from Medicare Advantage to Part D (standalone) and then you would likely need to qualify for the Medigap plan via medical underwriting. There are exceptions to every rule however so it could depend where you live, how long you've been on Medicare Advantage or other factors that may plan into your situation. It is important to make your initial enrollment decision for the long-term however since you may not be able to get a Medigap plan after you first enroll in Part B.