Norman Smith, Medicare Insurance Agent
Norman Smith
Bankers Life
Medicare Agent Licensed in FL and PA
Contact Details
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Location
South Bradenton, FL
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Phone
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Website
About Me
Hello, my name is Norman Smith, and I am your local Medicare advisor and agent. I specialize in Medicare and am devoted to helping you find the best plan that matches your specific needs and financial situation. I will take care of explaining the different options you have at this special time of life. It's YOUR INDIVIDUAL HEALTH!!! I can do a Fee Free, No Obligation sit down with you at your location or our Sarasota office! We can set a Zoom call if that is the easiest and time saving method for you. I am a Philadelphia area native, here in Bradenton, but will be available to those in both States!! Contact me today to explore your Medicare options, and be sure to mention that you found me on Medicare Agents Hub!
Q&A with Norman Smith
What do you enjoy most about working with Medicare clients?
Answer: Since the publications and networks can fill the minds with mostly false, inaccurate representations, assuring that I give the honest answers and expectations is satisfying. I enjoy the relationships and being the trusted advisors my clients can count on! Sometimes, you have to tell someone something they don't always want to hear, but you do it, because they will be hurt in the long run if you don't. Having the client understand that I'll bring up important factors they didn't even think about, and preparing them for their best future is what I'm about. Stopping the confusion, and giving the facts, let's me respect the man in the mirror each day and night. If I don't have my integrity, what do I really have?
How can you create a comfortable environment for discussing Medicare with your parents?
Answer: Excellent Question. Parents often don't want to acknowledge they are getting older!! But it's a must to have a mature conversation about how choosing Medicare properly is vital for the back portion of their lives.
Medicare, like so many Health Insurance programs, has variations from year to year. It's important to not assume that we know all there is to know about Medicare and how those choices could affect your future - POSITIVELY OR NEGATIVELY! Whether it's turning 65 shortly, retiring, or being affected by a change of life scenario, etc., finding a PROFESSIONAL who can demonstrate patience and understanding, while helping calm the "fear of the unknown", and prepare them for this journey has to be a priority. It's important now because there is no Underwriting at this time, where there will be when their Open Enrollment period has ended.
Assisting your parents for you has to come from a calm discussion that lets them know you care about how they approach their future. Without healthcare, all their plans for this time of life that they've saved for could be absorbed by getting the wrong plan. It could also lead to a situation that causes them to encumber family members, take from savings and investments that were meant to go to other places, and detract from their quality of life. Let them know you want the best for them and their health, and with these facts in mind, guide them to bring a professional they can meet, preferably face-to-face, so that they are comfortable in the trust of this choice and the service they may need moving forward.
What role do you think technology will play in the future of Medicare?
Answer: Technology changes in the World are constantly having an effect on how costs play out, how treatments and prescriptions are delivered, and how information passes through from one station to another. So naturally, the costs of working with AI will affect the speed of treatments and services, how our Healthcare professionals can react to each other and the patients, and the overall pricing to the end user.
I believe how it affects the overall Healthcare Field is directly related to how it will then affect Medicare. Ultimately, what is wanted is for all things is to use AI to generate speed, accuracy, and costs.
What additional coverage options are available for international travelers?
Answer: Depending on which plan you decide on, there may be up to $50,000 in lifetime travel reimbursement for any International coverage. But surprisingly enough to some folks, the plans they take wouldn't even cover them out of their local county!!! This is why you should speak to an Agent who specializes in Medicare in your state and locality. Hope this helped!
I’m on Medigap Plan G, and I’m curious how my upcoming knee replacement surgery will be billed. Does the plan cover it all after my deductible?
Answer: Yes! As a Plan "G" Supplement holder, as long as you continue to have original Medicare A and B, pay your Part B and your supplement premiums, your only obligation to medical bills will be the $257 Part B Deductible, and you should not see a bill again for the rest of the year regardless of any other medical needs, outside of Long Term Care. If you do not have an agent who can answer these questions, you should find one! That's what the Agent should be paid to do - service AFTER the sale!
Which Medicare Supplement plan (Medigap) offers the best value for most seniors, and why?
Answer: Everyone's situation is different. But the "G" Plan for new enrollees, for those who turned 65 after January 1, 2020, is the plan that holds the most benefits. Of course, those "G" plans will be priced higher than the "N" or the High "G" plan. Word of caution that some companies are developing plans they are calling "G" but in a different perspective. These are accepted and treated in a similar fashion to PPOs and HMO's, where there is a Network of Doctors and Specialists. The traditional "G" Plan has no networks.
What is one of the the most common misconceptions people have about Medicare?
Answer: That Medicare Advantage is Medicare. Also that Medicare Advantage plans give you coverage everywhere when they are usually only local plans!
What is the biggest mistake seniors make when enrolling in Medicare?
Answer: They under think the future! They aren’t in recognition that their health today is most likely the best health they will have moving forward! Do you think you will be in better health now or in 10 years? - The body doesn’t work like that even if you were the second coming of Jack Lalanne!! And so with NO UNDERWRITING involved, they should invest in THE BEST COVERAGE THEY CAN NOW!!!
How does life insurance contribute to financial planning?
Answer: Done properly LI can save you in taxes from your savings, and if invested properly can be one of the safest places to put your money to grow on the gains of the market, and never play the losses!
It can also save you from probate on the right policies too!
Does Medicare cover health care services on a cruise ship?
Answer: Once you cross into International waters, your Medicare will not cover you. There are very specialized situations while traveling abroad where it does. Always take the travel insurance.
However, adding a proper supplemental plan to your original Medicare can provide a $50,000 lifetime reimbursement benefit to augment your billing.
What benefits are there to working with a Medicare Agent near me vs remote/virtual?
Answer: Well, meeting together is always a more personal feel. You get to know your agent better than meeting through a Zoom or Teams meeting. Also, I come to your home personally to assist each year with the Part D, which can change yearly. In doing so we also stay on top of the changes in your life and adjustments to your needs that may have also changed!
If a senior is turning 65 but still working, should they enroll in Medicare or delay it?
Answer: Always good to talk to the professional either way! But some take their Part A as a backup to the existing coverage, even if they are deferring the Part B. But complete cost comparisons should be done to evaluate your best positioning.
How do you educate clients who are completely new to Medicare?
Answer: Patiently! People react differently and so some are scared of what they don’t know, and to be “taken” or to miss out in making the best decision for themselves at this time. Having a professional who takes your approach, fears, anxieties, and questions with clarity and calmness to explain things, thoroughly, needs to be a mandate. Relate to them on their terms and give examples of real life and potentials.
What does Medicare Part B cover? Is it enough?
Answer: Part B covers Doctors, like Part A covers hospitals. It is important to note that it gives you free access and control to the Professionals you trust, not being assigned. It also covers DME - Durable Medical Equipment such as crutches, chairs, commodes, beds, etc. that many MA plans have you pay. But Part B doesn’t pay your Co-Insurances or Co-pays and has a $257 Deductible before it pays 80% to your billing. You are responsible for the balance. Many people smartly decide to add a strong Supplement plan to their original Medicare, and that price is dependent on the Plan, the company, and whether you are in an Issue age state or an Attained age state.
What do I need to do if I didn’t take Medicare at 65 and am now retiring?
Answer: Well, firstly, Congratulations!!! I'm sure it was with years of hard work! And now we need to get the health portion of your years in the right direction!
You are now in what is known as a SEP (Special Enrollment Period). You want to go to Social Security and file to receive your benefits now, and submit that you are ready for your Medicare!
Next, you need to decide on how your Health Insurance will be taken care of in the retirement years. You may have many choices! Are you covered through a School, government, or military plan? Did you work for the Railroad? But if a member of the private sector who doesn't have those choices, you will choose from the 3 elements of Original Medicare only, with a supplement plan, or exchange your Medicare to accept a Medicare Advantage Plan.
But you want to take your Part A, even if you have permanent coverage through your employer. That could have been done when you turned 65. If you deferred your Part B when you turned 65, you need to let them know you are accepting that now. Also, you will need to choose a Part D provider, unless you are accepting a Medicare Advantage plan that includes a Prescription plan. Don't miss this, as you can end up with permanently attached penalties moving forward.
I would always recommend speaking with a Medicare professional face-to-face, and get the assistance to make this time easier and with more confidence.
What’s one Medicare decision that too many people regret later?
Answer: Correct initial decisions of your health choice when first eligible for Medicare is paramount because this is the only time you will make that choice without any Underwriting involved!
Many people, for instance, make the choice of going with a Medicare Advantage plan automatically, only to find that it was neither Medicare nor an Advantage for them! That's not to say it isn't the proper choice for some who have no real choice based on their circumstances, but for the person who has progressive ailments, or a family history of cancer, heart issues, dementia, etc. the care for the choices aren't the same. Unfortunately, when it comes to wanting the best professional for their needs, they may not be available to them.
You can't call for Home Owner's Insurance amid a fire, or Auto Insurance once you've been in an accident. So if an ailment, accident, or disease comes along and you chose wrong initially, you've found out too late that you took "cheap" in place of preparation.
I encourage you to be sure you investigate your options thoroughly upon your Open Enrollment. Get all the facts. Know health will only regress, so best to be prepared.
If Medicare Supplement (Medigap) plans are better for long-term coverage, why don’t more people choose them?
Answer: Advertising often misleads people to assume they know things they don't. The privatized companies that offer MA plans televise 9500 commercials per day! Have you seen many, if any, commercials regarding supplement plans? So many people don't have the information about them and the difference they make. In today's world, many seniors fear that they will be "Taken for a ride", so trusting a company or an agent is difficult.
MA companies make it seem so easy! They lay out the positives, but don't show what is missing from the policies, such as the choice of practitioners, specialists, or travel benefits. It doesn't show that the highest quality choices very often do not accept the MA product. It doesn't show what Out-of-Pocket costs are if you do not choose a Network Provider. It doesn't clarify that in giving your Original Medicare back for the MA plan that you lose coverage for your Durable Medical Equipment needs. Those plans need to be changed every year, and the policy you have today may not be in place next year, or your Doctor may not even participate in that plan any longer. You rarely have that issue with Medigap plans.
And we cannot leave out that the premiums for the Medigap plans may be out of reach for some. Unfortunately, some find out too late that they chose "Easy" instead of "Thorough", and what they saved in premiums cost them hugely later on when they needed more quality coverage.
What happens if I am already retired and collecting Social Security when I turn 65?
Answer: That just makes it easy! You turn on your Part A and B, elect a Part D Prescription plan, and you're ready to go!
Now, if you decide to go with a Medicare Advantage Plan, you will give up those benefits to take the privatized company insurance. Either way, it's pretty simple!
What's the difference between a Medicare broker and a Medicare agent?
Answer: A broker works with several companies to provide options for you.
An agent is an individual who may be captive to 1 company and sell you on their plans.
What do you like most about being a Medicare agent?
Answer: Knowing I have been of great service to someone, helping them to make the best decision for their health moving forward, is very rewarding internally. So many think they know what is best - a decision that came from their assumptions, falsely fed information by neighbors, or incomplete advertising. Well, they do until you share with them some knowledge that confirms or presents a different thinking that demonstrates they would have chosen incorrectly for themselves. Many do not put enough emphasis on NO UNDERWRITING, and how the wrong decision could change their life in an instant if they chose the wrong plan.
I operate with morals, values, and integrity. I have been hurt by people who sold me based on greed or malicious intent. I never want a client or proposed client to even question that. So as long as I can respect the person in the mirror each day, know that I am doing a needed service for someone with care and sincerity, and provide for my family and future in the process, my satisfaction is fulfilled!