Medicare
Understanding your options.
Medicare is the US Government’s health insurance program for individuals over the age of 65 and for individuals with a qualifying disability.
At Einstein Advisors, we represent many different Medicare Advantage Plans. (Almost all of them in most of our counties.) But the government still requires us to provide the following disclaimer:
“We do not offer every plan available in your area, but we do offer many. In fact, we offer well over 100 plans from 17 different carriers, including (in alphabetical order): Aetna, Anthem Blue Cross, CarePlus, Cigna, Devoted, Florida Blue, Florida Health Care Plans (From Florida Blue HMO), Freedom, HealthFirst, Humana, Medica, Optimum, Security, SilverScript, Simply, United Healthcare, Wellcare. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options. You can also contact your State Health Insurance Assistance Program for assistance.”
To be eligible for Medicare at age 65, you must have paid into the Medicare fund for at least 40 calendar quarters, or pay additional premiums. Once eligible, you have three main ways to receive your health care benefits.
Original Medicare
Medicare Supplement Plans
Medicare Advantage
Neither original Medicare, nor Medicare Supplement plans include coverage for prescription drugs, but you can purchase a Prescription Drug Plan to help with those costs. In fact, you are required to obtain Prescription Drug Coverage, and failing to do so can result in significant penalties. Most Medicare Advantage plans do include prescription drug coverage. Some Advantage plans also include some Dental and Vision benefits, which wouldn’t be covered by Original Medicare or Supplement plans.
There is no charge for this EDUCATIONAL event.
For accommodation of persons with special needs at meetings
call 386-956-0256. TTY 711
There is a lot to understand about Medicare, which is why we have developed a Medicare 101 class for our clients and anyone who wants to understand the basics of Medicare. In it, we answer these fundamental questions:
What is Medicare?
What does it cost?
What does it cover and what does it NOT cover?
What’s the difference between a Supplement Plan and an Advantage Plan?
Once you understand these fundamentals, you can begin the process of comparing your options so you can choose the best plan for your unique situation.
Which Plan is Best for You?
People always want to know, “Which plan is the best plan?” But there’s no plan that is best for everyone. All the plans are different, and every person is different. In order to determine which plan is the best one for you, we need to consider many factors including:
What prescriptions do you take?
What health conditions are you being treated for?
Which doctors do you see, how often, and where are those doctors located?
How important are those doctors to you? Would you be willing to change doctors if it could save you money?
How much do you travel? And where?
What is your ability to withstand out-of-pocket expenses in the event of a catastrophic event?
Do you qualify for Medicaid? (Insurance provided by the state and federal governments for individuals living at or near the national poverty level.)
If you are unsure whether you qualify for Medicaid, and would like help with the application process, contact an Einstein Advisor. We’ll be happy to help.