Mark Rich, Medicare Insurance Agent
Mark Rich
RICH Senior Benefit Advisors
Medicare Agent Licensed in KY
Contact Details
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Location
Louisville, KY
Mark Can Help With:
About Me
I am a Medicare Health Insurance Specialist with experience that dates back to 1987. Medicare Health Insurance is my sole specialty! That is, I do NOT do any other type of health insurance or other types of insurance. I am licensed and certified to enroll Medicare beneficiaries in any of the Medicare Advantage, Medicare Supplement, and Prescription Drug Plans offered by these major health insurers in Kentucky: Aetna, Anthem BC/BS, Humana, UnitedHealthcare, and WellCare. I serve the whole state of Kentucky from my office near Louisville.
My purpose is always to place each Medicare beneficiary in the health plan best suited for their individual needs. Most Medicare beneficiaries have several plan options available to them. However, every person has different needs - different health and financial circumstances. It is especially IMPORTANT to have a qualified local agent help you sort through the complex and confusing array of plan choices. I would be honored to assist you!
Q&A with Mark Rich
I'm turning 65 in three months but still working with employer coverage. Do I need to sign up for Medicare right now or can I wait?
Answer: A lot of people don’t realize how much money they can save by moving to Medicare when they are first eligible, even if they are still working, with health coverage through their employer. Many employers share the premium expense of group health insurance with their employees, resulting in a certain amount being withheld from the employee's paycheck(s) each month. Add to this that many traditional non-Medicare health insurance plans have high deductibles. A qualified Medicare Health Insurance Specialist can help individuals "do the math" and explain the pros and cons of transitioning to Medicare at age 65 versus deferring Medicare enrollment until later. Every individual's situation is different, so it is very important to engage an agent in the months leading up to one's 65th birthday.
When can I change my Medicare Advantage Plan?
Answer: Medicare Advantage plans are issued on a calendar-year basis. The Annual Election Period (AEP), between October 15th and December 7th every year, is the best time to review your plan with your local agent to determine if you are in the correct plan for your individual needs for the upcoming plan year (effective January 1st). Beneficiaries who are already enrolled in a Medicare Advantage plan may change their plan once during the Open Enrollment Period (OEP), which is during the first calendar quarter of each year (January 1st - March 31st). Additionally, there are "special enrollment periods" (SEPs) that apply to various special circumstances. You should consult your local agent to learn whether an SEP is available to you.
Why do some seniors end up paying lifelong penalties for Medicare Part B or Part D?
Answer: The most common reason for Medicare beneficiaries enrolling late in Medicare Part B and/or Part D is carrying other health insurance (usually through an employer) past their 65th birth month. Beneficiaries who enroll late, for this reason, can avoid the late enrollment penalties if they obtain proof of "creditable" coverage from their employer and furnish it to CMS. Unfortunately, some fail to do this. Others, out of ignorance, either fail to sign up for Medicare Part B when they should or cancel Part B because they do not want to pay the monthly premium ($185/month in 2025). Similarly, some fail to enroll in a Part D Prescription Drug Plan, which can also expose them to a lifelong late enrollment penalty. These are among the many reasons every Medicare beneficiary should engage an experienced local Medicare Health Insurance agent before turning 65. An agent can help assess whether it is even wise or cost-effective to continue in non-Medicare health insurance coverage through an employer. Oftentimes, changing to Medicare at age 65 and starting a Medicare Health Plan is more economical.
So with all these 2025 Medicare changes, should I be switching plans or staying put?
Answer: Here is a situation that illustrates why every Medicare beneficiary should have a relationship with a local agent! Your local Medicare Health Insurance agent can assess your needs and determine whether you are already in the best plan or if a better one may be available. Plan options indeed change every year. Medicare Advantage and Prescription Drug plans are issued on a calendar year basis, so the Annual Election Period (AEP) that runs between October 15th and December 7th every year is an opportune time to revisit your plan with your local agent to make sure you are in the correct plan for your individual needs for the upcoming plan year.
I missed my Medigap window by a few months and now no one will cover me without underwriting. Why isn't this rule more well known?
Answer: Unfortunately, there are many sales initiatives (through television, mail, and telemarketing) that are only focused on enrolling new Medicare beneficiaries in Medicare Advantage plans (aka, Medicare Part C). Consequently, many new Medicare beneficiaries are unaware of their Medicare Supplement (Medigap) "Open Enrollment" period! This is a one-time, six-month period that starts the first month a person is 65 or older and has Medicare Part B. During this timeframe, as long as the applicant meets both those requirements, an insurance company cannot refuse to sell a Medicare Supplement (Medigap) policy. However, once this period expires, the beneficiary's application will be subject to underwriting, meaning any pre-existing health conditions will be considered, which could result in the application being rejected. For this reason, all soon-to-be 65-year-olds need to engage a qualified local Medicare Health Insurance Specialist (licensed agent), ideally two or three months before their 65th birthday, so an understanding of one's Medicare plan options can be considered, especially the difference between the Medicare Supplement (Medigap) and Medicare Advantage plan models. It is during this time that each beneficiary must make decisions and take actions that will affect their future healthcare choices and finances!
I picked the plan with the lowest premium, but now every doctor visit feels like a surprise bill. Should I have gone with a higher premium instead?
Answer: A qualified local agent should be able to advise you about your co-pays and maximum out-of pocket costs (MOOP) for any Medicare Advantage plan available in your county. The same is true for your estimated annual prescription drug costs under the Part D part of your plan. This is a good example of a reason to become acquainted with a local agent you trust.