Turning 65 or retiring?
It can be overwhelming and confusing
Medicare is a federal health insurance program for people who are 65 or older, people with certain disabilities, and people with end-stage renal disease (permanent kidney failure requiring dialysis or a transplant, sometimes called ESRD). The program helps cover the cost of healthcare, but it doesn't cover all medical expenses or the cost of most long-term care.
There are many options to consider. Everyone's circumstances and needs are unique. Allow me to help you navigate and guide you.
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Call Cody: 704-345-4294
Which Medicare Plan to Pick?
Original Medicare has two parts, A and B, and each of them covers different areas of your healthcare. Here are a few things you should know about Original Medicare:
Part A is your hospital coverage
Part A covers hospitalization and hospice charges, but it has a $1600 deductible per a 60-day benefit period, and it usually does not cover doctors’ charges in the hospital. Part A usually has no monthly premium.
Part B is your medical coverage
Part B covers 80% of doctors’ charges during hospitalization, ie., surgeon’s or anesthesiologist’s fees, and most outpatient services such as doctor visits, and diagnostic or preventative tests. Part B has a $226 annual deductible and since it covers only 80% of the costs, patients are responsible for the remaining 20%. Part B has an income-based premium, which in 2023 costs most Medicare recipients $164.90 per month.
It is helpful to know that Original Medicare DOES NOT cover:
1. Part A’s (Hospital) Deductible – $1600/60 days
2. Part B’s (Medical) Deductible – $226/year
3. Part B’s 20% coinsurance is unlimited
4. Prescription medications
5. Dental services
6. Vision services
7. Hearing services
As you can see, Original Medicare does not cover everything. If you get sick or hospitalized, or even if you need to run some outpatient tests you could be responsible for large portions of the bills. It also does not cover your prescription medications and other services such as dental or vision.
To protect yourself from potentially high costs and to obtain coverage for your medications and other services you will need to reach out to the Private Insurance Sector, in the form of a Medicare Supplement and Prescription Plan or a Medicare Advantage Plan. This is where you will decide on your insurance coverage above and beyond Original Medicare. This is where I can help provide guidance and solutions.
Unlike Medicare Supplements, which have no variations, Medicare Advantage Plans usually offer a wide variety of options, networks, plans, benefits, and additional services. Choosing what is best for you can be difficult, and if not done properly, can cost a lot of money causing unnecessary gaps in your health coverage.
Cody Hebden provides Medicare coverage to North Carolina, South Carolina, and Michigan. Disclaimer: This website is a private website owned by Insurance of the Carolinas and is not affiliated with, endorsed, or authorized by the Social Security Administration, Centers for Medicare and Medicaid Services, or the Department of Health and Human Services. These agencies have not endorsed any content posted on or linked to this site. This page is for people looking for general information about Medicare and looking for information about Supplemental Medicare Insurance, Medicare Advantage plans, or Prescription Drug Plans.
We do not offer every available plan in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options. By contacting Insurance of the Carolinas, you are connecting to a licensed insurance agent certified to sell insurance products. 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 or 1-800-MEDICARE to get information on all of your options. NOT AFFILIATED WITH OR ENDORSED BY THE GOVERNMENT OR FEDERAL MEDICARE PROGRAM. CALLING THE NUMBER ABOVE WILL DIRECT YOU TO A LICENSED INSURANCE AGENT.