MEDICARE
Medicare Supplement Insurance, Medicare Advantage, Part D Plans
Did you know there are dozens of plans to choose from for your Medicare gap coverage? We represent most major Medicare carriers in the area and we are certified to educate those just now enrolling into Medicare as well as those already on Medicare. We can explain to you exactly what your plan does and does not do.
Having the wrong Medicare plan can severely affect your nest egg and your retirement years. In many instances, you may not know you have the wrong plan until something happens and it’s time to use it.
Know your options so you are not caught with surprise bills.
We can assist with the following:
Understanding how your Medicare Parts A & B work
Medicare Supplements
Medicare Advantage Plans
Medicare Part D: Prescription Drug Plans
With highly competitive rates, a large variety of plans, and vast amounts of training, you may be surprised at how ASB Financial can help you with your Medicare.
Our agents are licensed and certified to speak to you on your Medicare coverage. We are not affiliated or endorsed by any government agency.
We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local SHIP to get information on all of your options.We are ready to assist you with Medicare health and drug plans.
Medicare Supplement Insurance
Medicare supplement insurance, sometimes called Medigap or MedSupp, is private insurance that helps cover some of the gaps in Medicare coverage. Medicare is the federal program of hospital and medical insurance primarily for people age 65 and over who are not covered by an employer’s plan. But Medicare doesn’t cover all medical expenses. That’s where MedSupp comes in.
All Medicare supplement policies must cover certain expenses, such as the daily coinsurance amount for hospitalization and 90 percent of the hospital charges that otherwise would have been paid by Medicare, after Medicare is exhausted. Some policies may offer additional benefits, such as coverage for preventive medical care, prescription drugs, or at-home recovery.
There are 10 standard Medicare supplement policies,designated by the letters A through J. With these standardized policies, it is much easier to compare the costs of policies issued by different insurers. While all 10 standard policies may not be available to you, Plan A must be made available to Medicare recipients everywhere.
Insurers are not permitted to sell policies that duplicate benefits you already receive under Medicare or other policies. If you decide to replace an existing Medicare supplement policy—and you should do so only after careful evaluation—you must sign a statement that you intend to replace your current policy and that you will not keep both policies in force.
People who are 65 or older can buy Medicare supplement insurance without having to worry about being rejected for existing medical problems, so long as they apply within six months after enrolling in Medicare.
*source Medicare.gov
Medicare Advantage Plans
A type of Medicare health plan offered by a private company that contracts with Medicare to provide you with all your Part A and Part B benefits. Medicare Advantage Plans include Health Maintenance Organizations, Preferred Provider Organizations, Private Fee-for-Service Plans, Special Needs Plans, and Medicare Medical Savings Account Plans. If you’re enrolled in a Medicare Advantage Plan, most Medicare services are covered through the plan and aren’t paid for under Original Medicare. Most Medicare Advantage Plans offer prescription drug coverage.
*source Medicare.gov
Drug Coverage (Part D)
Each Medicare Prescription Drug Plan has its own list of covered drugs (called a formulary). Many Medicare drug plans place drugs into different "tiers" on their formularies. Drugs in each tier have a different cost.
A drug in a lower tier will generally cost you less than a drug in a higher tier. In some cases, if your drug is on a higher tier and your prescriber thinks you need that drug instead of a similar drug on a lower tier, you or your prescriber can ask your plan for an exception to get a lower copayment.
A Medicare drug plan can make some changes to its formulary during the year within guidelines set by Medicare. If the change involves a drug you’re currently taking, your plan must do one of these:Provide written notice to you at least 60 days prior to the date the change becomes effective.At the time you request a refill, provide written notice of the change and a 60-day supply of the drug under the same plan rules as before the change.
*source Medicare.gov
Free Information for Download
*We do not offer every plan available in your area. Currently we represent organizations which offer products in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program (SHIP) to get information on all of your options.