How To Insurance | 008 | What Everyone Should Understand about Medicare
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HOW TO INSURANCE
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Today, we are talking about...
What Everyone Should Understand about Medicare
Story
When I was 18 years old and got my first job, I remember being so excited for my first paycheck and adding up my hours worked and my hourly wage… just to be disappointed when I saw all the deductions taken out of my pay!
While paycheck deductions are not fun, they are very necessary… And once you turn 65yrs old and need healthcare… you’re going to be glad you paid into Medicare!
History
The Original Medicare program began in 1965 as a government-run health insurance plan for seniors, covering some benefits and medical costs. You pay a monthly premium and then have deductibles and copays for all medical care.
In the late 1990s, private health insurance companies were allowed to offer Medicare Advantage Plans that cover Original Medicare benefits, add additional coverage (like prescription drug plans) and limit the financial liability of individuals with affordable monthly premiums and low maximum-out-of-pocket costs.
Eligibility
Medicare health plans are available to most everyone 65yrs and older, who have paid into the Medicare system for at least 10 years. It’s very important that you enroll when you are first eligible...or you will face financial penalties for enrolling in later years.
Each year, everyone who is eligible is then able to enroll or change their plans during the Annual Enrollment Period between October 15 to December 7.
Why Medicare Advantage Plans
Everyone 65yrs or older needs to understand Original Medicare and Medicare Advantage, so they can choose the plan that provides the best benefits and protection from extreme health care costs!
Steps
So... What Should Everyone Understand about Medicare?
Medicare health plans are for most everyone 65yrs and older.
Enroll and choose the right plan for you, as soon as you’re eligible.
As an insurance broker, I’m licensed and certified to represent many different Medicare Advantage plans - as well as medigap supplements and Part D prescription plans.
If you or someone you know is Medicare eligible, please contact me to help you during this Annual Enrollment Period of October 15 - December 7.
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Until next time, Thank you for watching
HOW TO INSURANCE
Helping YOU understand insurance,
building CONFIDENCE for your future!
Peter D Johnsen
Insurance Broker
Apple Insurance Solutions
360.818.4865 | appleinsurancesolutions.com
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