First, You Have Decisions to Make Upon Reaching Eligibility
When you become eligible for Medicare there are major decisions to make. If you make the wrong decision you could incur financial penalties. Be careful. At Cool Insurance Group, we specialize in advising seniors about their options. All health insurance plans are rapidly changing, including Medicare. Not all agents understand Medicare like we do. We’ve been in the senior market for five decades our agents are licensed by departments of insurance and we receive Continuing Education every year to stay on top of changes in the market as they occur.
One of the best sources of information on Medicare is your “Medicare & You” handbook that you receive each year. It outlines all Medicare guidelines for the coming year. You can download a copy on the right.
Some important points to Medicare concerning your rights and entitlements.
- Medicare was created as a way of providing healthcare coverage for senior Americans.
- At some point in your life, you have a RIGHT to Medicare coverage.
- Most Americans, upon turning 65 years old become eligible for Medicare Parts A & B (Some become eligible for it before age 65, due to illness or other circumstances).
- Most people have paid into Medicare Part A through payroll deduction at work, so a premium is usually not necessary for Part A (Hospital) coverage. Some will pay for it however.
- If you elect to receive Part B, you will likely be required to pay the government a monthly premium and it covers, primarily, your non-hospital medical expenses. This monthly premium is usually taken right out of your monthly social security check.
- Medicare DOES NOT cover all medical expenses, nor does it pay ALL of the expenses it does overs.
- Medicare Part D is optional. It’s role is to help pay for some of beneficiary’s drug expenses. This separate prescription drug plan (PDP) must typically be purchased from a private insurance company in order for an individual to receive coverage for prescription drugs.
Medicare was developed in the 1960’s as a way for our government to help take care of healthcare needs for seniors age 65 and over and the disabled under age 65. Over the years, it has changed, adapted, and expanded to meet the varying needs of our population. While the subject of Medicare can occasionally become a political football, at Cool Insurance Group we believe Medicare is a sound solution for its beneficiaries. Healthcare debate generally centers on costs, benefits, and access. We understand the nuances of plans and how they vary from market to market. We can help you understand how it works and we can show you available options for your review. Our goal is always to take this often complicated subject and present it so you understand it and we work diligently to help you make the right decision.
A Cool agent can help a LOT where Medicare is concerned. Click the buttons below to research whichever part you would like to learn more about..