Medicare eligible? There are many products related to Medicare from Supplements, Medicare Advantage Plans and Stand alone prescription drug plans. The decision you make when first eligible is key and it is imperative that you understand the pros and cons of each product.
Medicare Supplements are plans that pay after Medicare. These plans are standardized for ease of comparison and are offered on a guaranteed issue basis when first eligible regardless of your health. If you don’t choose a Supplement when first eligible, you may be subject to underwriting if you decide to enroll at a later date that could result in your being declined or limited in the Supplement available.
MedicareAdvantage plans pay in place of Medicare. These plans are managed care that can have networks of providers, copays or coinsurance for most services and can include prescription drug coverage. Some Medicare Advantage plans offer additional benefits such as dental, vision and hearing aids that aren’t covered by traditional Medicare.
Stand Alone Prescription Drug Plans (PDPs) offer prescription drug coverage and can be combined with a Medicare Supplement plan or a MedicareAdvantage plan that doesn’t offer prescription drug coverage (some limitations apply).
Medicare and all of the related products can be quiet confusing. Our agents provide a Medicare 101 overview with you to explain all the different pieces and parts. Included in our presentation is a prescription drug review to determine whether your prescriptions are covered. We also review your providers when choosing a MedicareAdvantage plan to determine participation.
We represent most major carriers and provide consultations to help you select the right product and plan that best meet your needs. There is no cost or obligation and the consultation is free. Contact us today at (423) 279-9060 to schedule an appointment.
