What is an attained-age Medicare policy?

Your attained age is based on the current year, and the years you’ve lived. So if you were born on December 2, 1952, your attained age in the summer of 2022 would be 69 years. But on your actual birthday during the same year, your attained age would be 70. Some insurance companies use a person’s age to price their policies. For instance, it’s one of three rating methods used to determine rates for Medicare supplemental insurance or Medigap. If you are given a quote for an insurance policy, and your age is used as one of the factors, rates will likely increase depending on how old you are. When you buy an insurance policy, the company will base the rates on how old you are. For example, when you buy a 20-year term life insurance policy, companies will base your rates on how old you are. Let expert Kevin Leinum help you understand the many parts of Medicare and determine the right fit for you. Give me a call at 619.886.5665 to discuss the options available to you.

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What is the downside to Medicare Advantage plans?

Medicare Advantage plans generally offer a more extensive range of coverage than Original Medicare—such as vision, dental, and hearing benefits—they often come with costs that are much more variable than Original Medicare. With Original Medicare, the price and coverage are set and standardized across the board, though you’ll likely incur more charges compared to a Medicare Part D plan. Sick participants may find that medical care costs skyrocket under a Medicare Advantage plan due to copayments and out-of-pocket expenses. One of the issues with Medicare Advantage is your service area which can affect whether a plan is available in your area. Also, co-pays, coinsurance percentages, deductibles, and additional benefits can differ. One Medicare Advantage plan that includes prescription drug coverage might not have a medication you need in its formulary. Before enrolling in a Medicare Advantage plan, make sure you understand the cost and coverage it offers to make the best decision for your situation. Let expert Kevin Leinum help you understand the many parts of Medicare and determine the right fit for you. Give me a call to discuss the options available to you.

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What If I Haven’t Worked Long Enough To Qualify For Medicare?

You need to earn about 40 “credits” or “quarters” by paying Social Security and Medicare payroll taxes while working — equal to about ten years of work — to get Part A services without paying premiums. Your payroll taxes have already covered the premiums. Not having worked long enough to “qualify” means that you can’t receive benefits for Medicare Part A (hospital insurance) without paying premiums for them. It’s possible to qualify for premium-free Part A services if you don’t have enough credits based on your spouse’s work record. That is if you’re 65 or older and your spouse is at least 62. In some instances, you may qualify on the work record of a spouse who is dead or divorced. Kevin Leinum – your local Medicare Expert – can help you understand the many parts of Medicare and determine what the right fit is for you. Give me a call to discuss the options available to you.

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What Doesn’t Medicare Cover?

– Deductibles and coinsurance – If you opt for Original Medicare, both Medicare Part A (hospital insurance) and Part B (medical insurance) require out-of-pocket spending in the form of deductibles and coinsurance. If you have medical needs, this can get pricey, and there’s no out-of-pocket cap on Original Medicare spending. – Routine dental care – Although Medicare Part A covers some dental services you may get as part of a hospital stay, basic dental care like cleanings, X-rays and fillings aren’t covered. If you want coverage, you’ll have to purchase a separate dental policy. – Eye exams – Medicare doesn’t cover eye exams for glasses or contacts, or the eyeglasses or contacts themselves. Medicare Part B does cover one pair of glasses or contacts if you have cataract surgery. – Hearing aids – Medicare also doesn’t cover hearing aids or the exams required for hearing aids. – Prescription drugs – Original Medicare Parts A and B don’t offer coverage for prescription drugs. If you want prescription drug coverage, you must buy a Medicare Part D plan from a private insurance company or get prescription drug coverage from a Medicare Advantage plan that includes it. – Long-term care – Medicare does cover skilled nursing facility care if your doctor recommends it after a qualifying three-day inpatient hospital stay. In these circumstances, Medicare covers the first 100 days of care along with a daily coinsurance charge.

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PHONE

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We do not offer every plan available in your area. Currently, we represent 8 organizations which offer 75 products in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Assistance Program (SHIP) to get information on all of your options. This is a proprietary website and is not associated, endorsed, or authorized by the Social Security Administration, the Department of Health and Human Services or the Center for Medicare and Medicaid Services. This site contains decision-support content and information about Medicare, services related to Medicare and services for people with Medicare. If you would like to find more information about the Medicare program, please visit the Official U.S. Government Site for People with Medicare located at http://www.medicare.gov.

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