Quick Guide to Your Benefits

Turning age 65 is a mile stone in one’s life. Most individuals will experience a significant reduction in out-of-pocket medical expenses when turning age 65 if they understand the Medicare opportunities and take advantage of these opportunities. This “Quick Guide” is intended to provide an overview of the 4 decision points one must approach to make sure they participate in the best way possible all federal benefits they are entitled to,

Step 1: Learn about and enroll in Medicare Part A and Part B

Go to www.medicare.gov to learn about Medicare, You will learn what Medicare Part A and Medicare Part B is as well as how to sign up. When you are first eligible for Medicare you have a 7 month initial Enrollment Period to sign up for Part A and /or Part B. This period begins 3 months before the month you turn age 65, includes the month you turn 65, and ends 3 months after the month you turn 65.

Step 2 Determine which is best for you Medicare Supplement or Medicare Advantage

Most people elect to supplement their Medicare coverage with a Medicare Supplement Policy or Medicare Advantage. As most seniors ae on a fixed income it is usually preferred to have a Medicare Supplement policy as this policy will provide the best coverage, with a fixed expense when compared to a Medicare Advantage plan.

Medicare Deductibles in 2018

Part A Deductible $1340
Daily Hospital Confinement 61st-90th day $322
Daily Hospital Coinsurance 91st-105th day $670
Daily Skilled Nursing Facility Coinsurance $167.50
Part B Calendar-Year Deductible $183
Deductible for High-Deductible Plans $2240

Step 3 Learn about and enroll in Medicare Part D

Medicare Part D is Medicare prescription drug coverage. You have the right to elect a prescription drug vendor (carrier), Go to www.medicare.gov to learn about prescription drug coverage and how to select a vendor.

Step 4 Learn which Social Security election is best prior to reaching SS retirement age.

Over the years we have seen many seniors elect the wrong social security election option. This ahs cause them to not fully take advantage of the financial opportunities they have earned and deserve. As we care about our clients we are concerned about this decision. We have made available a customized report regarding your social security earnings. At your request we would refer you to the entity that provides this report. Because of our relationship with this entity we are able to provide a significant discount when purchasing this report if your mention the MedigapPro.