Michele Spencer, Medicare Insurance Agent
Michele Spencer
Spencer Medicare
Medicare Agent Licensed in IN, KY and OH
Contact Details
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Location
Fishers, IN
Michele Can Help With:
About Me
Independent Insurance agent licensed for over 30 years with a focus, but not limited to, Medicare and ACA. Additional areas of focus are life insurance, supplemental plans, dental, vision and hearing.
Q&A with Michele Spencer
How do the Inflation Reduction Act impact Medicare Part D Rx plans in 2025?
Answer: About the $2,100 Medicare Drug Cap
— What It Really Means
You may have heard that Medicare is putting a $2,100 yearly limit on what you pay for prescription drugs.
That sounds great — and it is helpful — but it’s important to understand:
It’s not “free medicine.”
When your drug costs are capped, someone still has to cover the rest.
That cost is now being shared by insurance companies and drug companies and ultimately by the consumer.
Because of this:
• Some plans are changing
• Some premiums may go up; your copay’s go up
• Some drugs are no longer covered
• Some plans may leave certain areas; insurance companies have left the market
What matters most is making sure YOU are in the right plan for your medications and budget.
If your prescriptions are expensive, your plan choice matters more than ever. Be sure to review your drug plan every year.
Shop for options such as discount drug cards, manufacturer grant programs.
What's the most frustrating misconception you have to clear up with clients about Medicare every year?
Answer: Medigap plans can be reviewed and changed anytime of the year. People think they can only be changed during the annual election period. They are regulated by your state department of insurance and not Medicare
I'm turning 65 next month; what are the first steps I should take regarding Medicare enrollment?
Answer: Work with a LOCAL licensed certified medicare agent. Ask them how long they have been licensed. How long have they been helping people. In the medicare space. There have been many changes to medicare as of late and nobody knows the changes in your state like a local agent. Make sure you are educated on both medicare supplement vs medicare advantage plans. There are upsides and downsides to both options. And what option you start with will dictate what changes you can make in the future. Don’t fall for the $0 premium plan as depending on your health that could be the most expensive of the two options. Don’t rely on your friends or family for the best plan. Best is subjective to your health, your doctors, your medical needs, your functional budget
My doctor mentioned something about Medicare not covering my procedure. How do I find out for sure before I get stuck with a bill?
Answer: 1. Ask your doctor if medicare covers it
2 call your health plan to confirm
3 to to medicare.gov and look for “what’s covered
4 download the what’s covered app
How do you get paid, and does it affect the plan you recommend?
Answer: Medicare agents don’t (shouldn’t) charge a fee for thier services. We get paid once a plan is written by the insurance company for most products.
I started taking a new prescription this year. Do I need to change my Medicare plan?
Answer: You need to review your plan EVERY YEAR and especially for 2026. The list of covered drugs and prices will change from year to year. And if you miss doing an annual review, you may be stuck with the plan you have until the following open enrollment.
What are the reasons why I should work with a Medicare agent?
Answer: Agent bias. If an insurance company employs an agent, he will have a bias. In most instances his employer is the only plan he can represent/sell. And that plan may not be the right one for you
My Medicare Advantage plan denied coverage for a specialist I need to see. What are my options now?
Answer: *File an appeal.
*Call your doctor to be sure the specialist's request was completed properly.
*Call your doctor or insurance to find out why it was denied