Medicare

Medicare is the federal health insurance program for people who are 65 or older and certain younger people with disabilities. Timing is very important when enrolling for Medicare so you don’t lose out on any benefits. The original Medicare Program includes three parts:

• Part A – Hospital Insurance: Covers inpatient hospital stays, care in a skilled nursing facility, hospice care, and some home health care.
• Part B – Medical Insurance: Covers certain doctors’ services, outpatient care, medical supplies, and preventive services.
• Part D – Prescription Drug Coverage (optional): Covers prescription drugs for which you pay a monthly premium.

When you’re joining Medicare timing is very important. When you turn 65 or otherwise become eligible for Medicare, enrollment windows open, but it is important to enroll during that time to ensure you don’t lose out on any benefits.

It’s important to remember that Medicare does not cover all medical expenses

A recent study of 3,000 Medicare beneficiaries’ out-of-pocket medical spending during their last five years of life found:

• Participants spent an average of at least $38,600
• 25% of participants paid $101,800 on average
• 25% spent more than their total household assets on health care
• Because of this, many people opt for additional coverage through a Medicare Supplement Plan.

What you need to know about Medicare Supplement Plans:

• Helps you pay some or all medical expenses not paid by Medicare part A & B
• May help limit your annual out-of-pocket medical expenses
• You can see any doctor that accepts Medicare patients

Medicare Supplement Plans strengthen your overall coverage. Medicare is not designed to pay 100% of your medical costs. Medicare Supplemental insurance coverage helps pay some of your share of the health care costs not covered by the Medicare Plan; such as deductibles and coinsurance or copayment amounts. Some supplemental health insurance plans also cover certain hospital or medical services not covered by Medicare. This can help ensure medical expenses deplete your savings.

Medicare Supplemental health insurance coverage is available to you if you are 65 or older and have enrolled in Medicare Plan, Parts A and B.

We offer a variety of Medicare Supplement plans that can meet your healthcare needs and budget including program from Florida Blue. A&B Insurance and Financial is one of the largest agencies providing Medicare Supplemental policies in the State of Florida. Our specialists are ready to help you make the right choice when it comes to your healthcare options.

Florida Blue offers two types of Medicare Advantage plans:

Your healthcare choices are very important. At A&B Insurance and Financial we are here to help you make the right choice for your situation. We take the time to understand your needs and recommend a solution for your unique needs. Contact us today for more information.