What is a Supplement? What is Part C and Plan N? Do I need to have Part B too? With so many letters and plans it is tough to dig through these muddy details. Meeting with a broker is the smartest move a person who is approaching Medicare or on Medicare could make.
A broker will do all the hard work for you. Navigating the different plans and cross referencing your doctors and hospitals, which are most important. This can be tedious due to the number of plans.
First, you not only have to worry about this Medicare decision when you first turn 65, but every year after as well. The plans change, you may change, or in a competitive market there may be a new plan to pop up that didn't exist the previous year. There are 25 different Insurance Companies selling 10 different plans, plans A through N. In Volusia County alone there are 16 different Medicare Advantage Plans with drug coverage also known as Part C, and 17 other Prescription Drug Plans Part D.
We meet clients once a year during the the Annual Enrollment Period (AEP) to do an annual review. It is important not to be complacent with your plan, and we will keep an eye on what changes. The AEP window runs from October 15th to December 7th. Although AEP is the most important time to review your health care, we are an ongoing resource for you throughout the year as well. There are Special Needs Plans, Limited Income Subsidy, Diabetic Plan's, and Extra Help Programs to be considered which may allow you to change your coverage any time of year.
Second, we work as a fiduciary on your behalf so it's not about one plan or one company. It's all about you and your best interests. Consulting with friends and family is normal, but what works for your friend or family member might not be a stand out performer in the area where you live. Everyone must have the plan best suited for them... not just what they hear "on the street." Often times even spouses are on different plans based on their needs.
If you have questions or are confused about what you will be liable for. Book a meeting with an agent. The goal is to lower your potential cost as low as possible while still receiving great medical care when you need it and give you peace of mind.
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