Medicare Help for Seniors in NJ & NY
While Medicare can be a fantastic benefit for millions of seniors across the country, setting up your coverage can be much more complicated than most people realize. One of the services we offer is Medicare help for seniors who aren’t quite sure what coverage options will best fit their lifestyle.
What can our Medicare consultant do?
Our Medicare consultant at Callahan Financial Services Group will guide you through the maze of Medicare supplement coverage plans, as understanding and choosing the right plan is essential. We will advise you on the best Medicare plan that will fit your needs and budget. We have been addressing senior’s needs for the last decade. We specialize in providing unbiased advice to seniors about their Healthcare choices. One of our professional Medicare consultants will help you decide the plan that will work best for you.
What is Medicare?
Medicare is the federal health insurance program available to anyone 65 or older and younger people with specific conditions like permanent disabilities or end-stage renal disease. However, contrary to popular belief, multiple coverage options are available to fit a wide variety of needs.
Medicare is made up of four parts:
Part A Hospital Insurance
Covers hospital and skilled nursing home facilities also provide for Hospice care.
Part B Medical Insurance
Covers physician visits, diagnostic test, physical therapy, lab work, durable medical equipment.
Note: Medicare will not cover the full cost of these services, some deductibles and co-payments must be met for Part A. Medicare only covers 80% for Part B services. There are supplemental plans that will pick up where Medicare leaves off. Callahan Financial Services Medicare help for seniors will advise you on the best program that is right for you.
Part C Medicare Advantage Plans
Medicare Advantage plans are health plans offered by private companies that receive subsidies from the federal government to provide coverage for their members. Medicare Part C covers everything supplied by original Medicare, plus additional benefits such as hearing, vision, or prescription drug benefits. When you buy a Medicare Advantage Plan, you receive all of your Medicare benefits through that plan. While Medicare Advantage must cover everything the Original Medicare Plan covers, it does not need to include those benefits for the same amount.
Part D Prescription drug plans
These are prescription plans offered through Medicare contracted private companies.
Choosing a Part D plan is very important and making an uninformed decision may result in high monthly premiums, annual deductibles, and excessive co-pays and out of pocket cost. Callahan Financial Services will guide you in selecting a plan that is right for you resulting in thousands saved.
Our Medicare consultant understands that there are many options and carriers when choosing a Medicare Supplement or Medicare Advantage plan. We also know how confusing it can be that’s why we’re here as local Medicare Supplement insurance agents ready to give expert Medicare help for seniors, making it simple to find the right Medicare plan.
What You Need to Know About Medicare
The most important thing that everyone needs to know about Medicare is that the annual enrollment period (AEP) begins on October 15 and runs through December 7. This is the only time to make changes like adding, dropping, or adjusting your coverage options.
There is also the Medicare Advantage Open Enrollment Period (MA OEP), which runs from January 1 to March 31. This window is a one-time option for anyone enrolled in a Medicare Advantage plan to drop their existing coverage to enroll in a different option.
There are also ways to qualify for a Special Enrollment Period (SEP) through unique situations like losing your existing employer-sponsored coverage or being diagnosed with a qualifying disease or condition.
Medicare Supplement Plan (Medi-Gap plan)
Medicare Supplement Insurance, commonly referred to at Medigap, is a separate insurance policy purchased from a private company to fill in the gaps that Medicare does not cover.
This can be a valuable add-on for many Medicare users. Still, there are several restrictions with any Medigap policy, so it is always a good idea to speak with a Medicare consultant before accepting a policy.
What Can Medigap Help Cover?
Medigap policies are an excellent way for Medicare patients to insure themselves against out-of-pocket costs like copayments, coinsurance, and deductibles. Having this type of coverage in place can drastically reduce your potential expenses should you need long-term care in the future.
Are you ready to enroll in Medicare? Do you still have questions about which plan is the best option and need Medicare help for seniors? Contact our Medicaid consultant now for a free consultation! You’ll be glad you did.
Providers We Work With
