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Understanding Medicare Options

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Understanding Medicare Options

  1. 1. WelcometoMedicare
  2. 2. Agenda Understand Medicare Understand Options Understand How to Choose
  3. 3. PartsofMedicare A B
  4. 4. ByPrivate Companies (that getpaid byMedicare) C D Combines A, B, & D
  5. 5. Medicare Supplement Options Plans are all the same (STANDARDIZED)
  6. 6. Choosing a Company
  7. 7. How toChoosea company MEDICARE SUPPLEMENTS CONSIDER  Price  Customer Service  Financial Solvency  Market Share  Historical Rate Increases MEDICARE ADVANTAGE CONSIDER  Your Out of Pocket Costs  Extra Benefits  Network  Prior Approvals and rules to obtain services  Customer Service  Star rating  Historical changes
  8. 8. How to decide Med Supp vs Med Adv
  9. 9. YOUR DECISION, Think about how you normally make buying decisions Do you prefer a Cadillac or a Camry? Is flexibility the most important? IsAccess to care the most important? Is low cost up front most important? Are the perks most important? Why do I have to pick, I want someone else to?
  10. 10. Medicare Part D How it works
  11. 11. Part D  Have to cover at least 2 drugs in each drug class  Have to meet basic coverage design  All have formulary  Coverage Rules  Use Network Pharmacies  Tier Structure (co-pays) Similarities
  12. 12. Differences among options Quite Varied Drugs covered different Costs can vary based on tier/coverage Star Rating, Customer Service Number of Medications Covered Preferred Pharmacies

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