Michael Ferraro, Medicare Insurance Agent

A Family Guide to Hospice and Medicare: What I Learned From My Mom’s Experience

June 14, 2025

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I'm on Medicare but recently declared bankruptcy due to medical bills. How will this affect my coverage and options going forward?

Answer: Bankruptcy does not affect your Medicare status. However not paying your premiums on your med-sup or Medicare Advantage plan will. If you declare bankruptcy, continue to pay your premiums and you will be in good shape.

What's your go-to strategy for helping someone decide between Medicare Advantage and Medigap?

Answer: First I make sure they unerstand how Medicare works.

Next I check to see if they can afford a Medicare Supplement.

Then we go over overall health. Many Dr visits? Often at a specialist?

I then do a side by side comparison of a med sup and Medicare Advantage plan and explain this is just a general example so you can see how it works.

We then talk about their risk profile and I make a formal recomendation.

Once they choose we put together a list of Dr's and Medications (Even if they are going with Medigap) and compare plans

By the end of this process it's usually pretty clear to the client what they should do.

Don't you think Medicare will eventually be privatized completely?

Answer: The trend is going that way. Now over 50% of retirees have a Medicare advantage plan. This is handled by private companies, as well as prescription drug plans. It’s just my opinion, but I believe it’s too large of a program. The government will fight like hell to not let go of control. Although this year we have seen some major govt programs get taken apart. I think it’s something to watch. However I believe no matter what happens the solution will remain the same. Every year input your drs and medications and review plan changes to make sure you are getting the most out of Medicare. It’s my opinion is having a good relationship with your Medicare broker. They are more than likely to have there finger on the pulse of what’s going on.

Thanks.

Mike.

Long Island Senior services

631-966-1500

What's the process for signing up for Medicare if I'm already on disability benefits?

Answer: If you are on disability you are automatically qualified to receive Medicare. There is a waiting period however. After being disabled for two years. On month 25 you will automatically be enrolled in Part A&B. You should receive a card 3 months before. Then you can pick a med supplement & prescription drug plan or Medicare advantage plan

How can I verify if a Medicare Advantage plan's advertised benefits are legit?

Answer: This is something that can be verified with your Medicare broker. A good broker reviews plans in September and knows what is being offered in the marketplace.

Are mental health services like therapy fully covered under Original Medicare?

Answer: Mental health services are covered however there is limitations varied costs depending on the plan. This should be reviewed with your Medicare broker.

I'm interested in a robotic knee replacement surgery that my surgeon recommends for my specific anatomy. How does Medicare coverage work for this advanced procedure?

Answer: Medicare looks at is procedure covered. It doesn’t look at the technology that is used to do the procedure. As long as your dr says it is medically necessary and the drs office accepts Medicare assignment. There should be no issue

How do you educate clients who are completely new to Medicare?

Answer: Medicare 101’s are my favorite way to educate seniors about Medicare. You can make presentation fun, I usually serve food and get positive feedback