Unless you are already receiving Social Security Benefits or RRB Benefits, you will NOT be automatically enrolled in Medicare Parts A&B at 65. You will need to submit a Medicare application yourself. You will have an Initial Enrollment Period for Parts A, B, and D that lasts for seven months. This starts three months before your 65th birthday month, includes your 65th birthday month, and three months after your 65th birthday month. If you enroll within those seven months, there will be no late enrollment penalties. Call the Medicare Sharks licensed experts to guide you through the Medicare enrollment process!

Once you get Medicare Part B, you have six months to purchase a Medicare Supplement Plan (Medigap) and you WILL NOT be subject to passing medical underwriting (health questions). Also, you WILL NOT be subject to a pre-existing condition waiting period. This six-month open enrollment period is your one-time window where you WILL NOT be denied coverage for health reasons. Once you pass this opportunity, a company may deny your application for a Medicare Supplement Plan (Medigap) forever. FYI you can submit an application up to six months in advance of your Medicare Part B effective date if you are a first-time Medicare Supplement applicant 64 ½ or older. Don’t miss your chance to get a Medicare Supplement Plan! Call the Medicare Sharks licensed experts to help!

Once you get Medicare Part B, you have 6-months to purchase a Medicare Supplement Plan (Medigap) and you WILL NOT be subject to passing medical underwriting (health questions). Also, you WILL NOT be subject to a pre-existing condition waiting period. This 6-month open enrollment period is your one-time window where you WILL NOT be denied coverage for health reasons. Once you pass this opportunity, a company may deny your application for a Medicare Supplement Plan (Medigap) forever. FYI you can submit an application up to 6 months in advance of your Medicare Part B effective date if you are a first time Medicare Supplement applicant 64 ½ or older. Don’t miss your chance to get a Medicare Supplement Plan! Call the Medicare Sharks licensed experts to help!

In most cases, you must keep your Medicare Prescription Drug Plan for the full year Jan-Dec. During the Annual Enrollment Period (Oct 15 – Dec 7) you can make changes to your Prescription Drug Plan and coverage will start on Jan 1. However, you may be entitled to a Special Enrollment Period (SEP) where you can change your plan mid-year. It’s always a smart idea to check with the Medicare Sharks licensed experts to see if changes to your Medicare Prescription Drug Plan would benefit you!

In most cases, you must keep your Medicare Advantage Plan for the full year Jan-Dec. During the Annual Enrollment Period (Oct 15 – Dec 7) you can make changes to your Medicare Advantage Plan and coverage will start on Jan 1. There’s another opportunity to make changes to your Advantage Plan during the Medicare Advantage Open Enrollment Period (Jan1 – Mar 31). However, you may be entitled to a Special Enrollment Period (SEP) where you can change your plan mid-year. It’s always a smart idea to check with the Medicare Sharks licensed experts to see if changes to your Medicare Advantage Plan would benefit you!

If you only have Medicare A&B and have not chosen a Medigap or Advantage Plan, you will be completely responsible to pay the deductibles and 20 percent coinsurance of your medical bills that Medicare does not cover. Most people don’t realize that Medicare only covers about 80 percent of your medical bills leaving you to pay the remaining costs. Depending on your health needs and budget, you need to make a smart choice to get a Medigap Plan or Advantage Plan. The decision you make today will determine your future! You can’t wait to get sick before you decide to get a Medigap Plan, because you may be subject to medical underwriting and can be denied coverage. Call the Medicare Sharks licensed experts who can help discuss your options so you can get the BEST COVERAGE and also SAVE MONEY!

Any doctor or hospital NATIONWIDE who accepts Medicare MUST ACCEPT your Medigap plan regardless of which insurance carrier you have! Unlike Medicare Advantage plans, the Medicare Supplement Plans (Medigap) have NO network restrictions and DO NOT require referrals for specialists!

Since Medigap plans are accepted by ANY doctor, specialist, or hospital that accepts Medicare, you will always have coverage wherever you travel! You may use your coverage NATIONWIDE!

If you have the following Medicare Supplement Plans (Medigap) you will have Foreign Travel Emergency coverage: Plan C, Plan D, Plan F, Plan G, Plan M, Plan N.

The most comprehensive plan for anyone who is eligible for Medicare BEFORE1/1/2020 is Medigap Plan F. The most comprehensive plan for anyone who is eligible for Medicare ON or AFTER1/1/2020 is Medigap Plan G.

You have to compare the premium price of Plan F and premium price of Plan G and if the annual savings is not greater than the current cost of the Part B annual deductible, then you should choose Plan F.

It is true that each company that offers a Medicare Supplement Plan (Medigap) such as Plan G, must offer the SAME BENEFITS, however they can charge DIFFERENT PREMIUMS for that same Plan G. In some cases, if you compared prices from company to company, you may find that you can save $1,200 on average per year! The key is to speak with a licensed broker from Medicare Sharks since we are appointed with ALL the Top Carriers Nationwide! We can give you choices for any of the top standardized Medigap plans (Plan F, Plan G, Plan N,) therefore SAVING YOU MONEY!!! Many agents across the country are only appointed with one company, so that’s the only company they can offer you, but it may not be the best way for you to get the best coverage for the lowest cost. Calling the Medicare Sharks will SAVE YOU MONEY!!!

When dealing with something as important as your health and financial well-being, you will benefit from using a licensed and knowledgeable insurance broker, to help you find a Medicare insurance plan that’s right for your health needs and budget. In addition to insider knowledge, you will gain FREE advice from a licensed insurance professional, who can give you unbiased comparisons of companies and plans to help you make an informed intelligent decision. Call the Medicare Sharks licensed experts to help you COMPARE & SAVE!

This can be a costly mistake for not enrolling in Part D when you are first eligible. First of all, you may not be taking medications at this time, however two years may pass and all of sudden you are diagnosed with a condition that may require expensive prescriptions. You would have to pay the full out-of-pocket cost of those medications until the next time that you can enroll in a Part D Drug Plan during the Annual Election Period (Oct 15 – Dec 7) and the plan won’t start until Jan 1. In addition to that, you will have to pay a late-enrollment penalty for your Part D Drug Plan calculated by the government for every month that you did not have creditable drug coverage. This penalty will last forever for your lifetime! Call the Medicare Sharks licensed experts who can find you a low-cost prescription drug plan to satisfy your medical needs and avoid penalties!

(see both charts below)

Medicare Supplement Plans vs. Most Medicare Advantage Plans

Although some Advantage Plans may have a zero-dollar monthly premium, there are many out-of-pocket costs associated with Advantage Plans. Every Advantage Plan has a maximum-out-of-pocket amount, so it stands to reason that there are costs associated with Advantage Plans which you have to pay. Maximum-out-of-pocket costs can range anywhere from $3,400 to $6,700 to $10,000 and each carrier’s plans are completely different. There are copays for doctors’ visits and even higher copays for specialists. There are deductibles for things like hospitalization. You’ll pay coinsurance for lab tests, bloodwork, X-rays, MRIs, CAT Scans, ambulance rides, chemo drugs, and most procedures. By the time you end up paying for all these out-of-pocket costs, it may be more beneficial for you to pay a premium for a Medicare Supplement Plan (Medigap) and not have to pay anything else. Call the Medicare Sharks licensed experts who can help discuss your options so you can get the BEST COVERAGE and also SAVE MONEY!