Nancy Nowell, Medicare Insurance Agent
Nancy Nowell
Nowell Insurance
Medicare Agent Licensed in SC, FL, GA, MI, NC, NY, TN and VA
Contact Details
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Location
Chapin, SC
About Me
As an Independent Insurance Advisor, I will help you navigate Medicare....to understand Medicare; to review your options; and to find the best available coverage, based on YOUR needs, concerns and budget.
I work with many different insurance companies in order to be a true "consumer advocate", assisting people in the process of securing the best coverage, specifically for them. There is no one type of plan or carrier that is the best fit for everyone. I'd love to help you find the best solution for YOU. (There is no cost for my services.)
I am home based in SC and also licensed / serving in: NC, TN, VA, FL, GA, MI, NY.
Q&A with Nancy Nowell
When is the best time of the year to start looking at Medicare options?
Answer: If you are new to Medicare or planning for retirement, then it is advisable to begin the process of review and understanding, 3-6 months prior to eligibility.
If you already have Medicare, it depends on what type of plan you have. For Medicare Advantage and Prescription Drug Plans, you need to review those during Annual Enrollment Period (for options for the next calendar year). If you have a Medicare Supplement (Medigap), those plans auto-renew montlhly upon payment and you can "shop" for lower premiums any time of the year (Some medical underwriting applies unless you have a guaranteed issue situation).
'Hope this helps!
I've been dreading hitting the donut hole each year. How will its elimination in 2025 change what I pay throughout the year?
Answer: With the elimination of the donut hole in 2025, there are now 3 cost share "phases" instead of 4. The 3 phases of cost share are:
(1) DEDUCTIBLE (in 2025 max allowed RX deductible is $590 / in 2026, it will be $615)
IF it applies and HOW it applies will depend on your plan structure and medication tier assignment. Refer to your Summary of Benefits and plan sponsor for specific costs for you.
(2) INITIAL PHASE
See your plan Summary of Benefits for cost share by tier, medication tier assignment, and pharmacy (formulary, tiering, retail cost and cost share by tier vary from plan to plan)
* if you reach the Annual Max Out of Pocket which was new in 2025 when the donut hole was removed, then you go to Phase 3 (Catastrophic)
*MOOP for 2025 is $2,000 and in 2026 will be $2,100
(3) CATASTROPHIC - members pay $0
(costs are absorbed by carriers, pharmaceutical companies and the government)
So, what you pay depends on your medication and plan selection, but these are the phases of cost share and your plan Summary of Benefits would be your guide to determining cost specific to you and your medications.
'Hope this helps!
What are the reasons why I should work with a Medicare agent?
Answer: If you work with an Independent Medicare agent, you will be assisted (at no cost) by someone who is able to be your advocate in finding the best available coverage, for your needs, concerns and budget.
An Independent Medicare Agent should work more as an "advisor" rather than a "sales person". Be sure to ask how many carriers they are appointed with and if they use actuarial tools so that they can compare all of your options, not just one or two carriers' plans.
An independent agent / advisor should keep you informed; advise you of the best coverage for YOU, and support you throughout the year.
I started taking a new prescription this year. Do I need to change my Medicare plan?
Answer: The short answer is maybe. Maybe not.
You should always review your Medicare plan each year during Annual Enrollment Period (Oct 15-December 7) for plan changes and options, for medication coverage and cost, as well as other benefit or coverage changes.
If your current plan offers the best coverage at the lowest cost, then don't change.
If there is a different plan which offers better coverage at lower cost, then change plans during Annual Enrollment Period, for the next year.
An independent advisor should be able to review your current plan vs all options and help you identify the best available coverage, specifically for you.