Medicare

Original Medicare

• Original Medicare is 80% - 20%
• They pay 80%, You pay @20% and there is NO LIMIT on how much you will pay.

WARNING:
Staying ONLY Original Medicare can lead to serious Medical Bills and can put you in finnaical harm

EXAMPLE:
Hospital Bill comes to $100,000. You pay 20%. ($20,000 ! )

Option #1

Medicare Supplement

Real name is MEDIGAP PLAN

• Plans through Private Insurance Companies
• Plans are Regulated by the Federal Gov’t.
• All benefits the same with each company, they set their own prices.
• Prices are aged-based. (Will increase with age.)
• Average cost for T65. Plan G - average $120 mo.

Option #2

Medicare Advantage

• Plans through Private Insurance Companies
• Replaces Original Medicare Part A & B.
• Includes ALL of Part A and Part B.
• Typically offers extra benefits Original Medicare doesn’t cover.
• INCLUDES PART D DRUG PLAN
• Prescription Drug Plan built into it.

BENEFITS

• $0 monthly premium plans, + Co-Pays.
• There is a MAX OUT OF POCKET per year. Very few ever hit it…
• Not all plans are created equal. We go through EVERY plan and know what plan is good for that year. Really need to pay attention to Networks!
• No Charge for Preventive Care Screenings
• If you travel, Emergency room and Urgent Care is covered.
• Covers lot of benefits Medicare Does not. Medicare does not Cover: Preventative Dental & Vision, Hearing Aids, Chiropractors, Silver Sneakers, Routine Foot Care, etc...

Part D Prescription Drug

• Plans through Private Insurance Companies.
• National Average cost is $35 mo. Plus co-pay’s for your drugs.

WARNING
If you do not get a Part D Plan when you first go on Medicare and you need one years later, You will incur a LIFETIME PENALTY for the rest of your life.

• To qualify for Extra Help, your annual income must be limited to $18,210 for an individual or $24,690 for a married couple living together. (2018)