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Demystifying medicare
- 2. What Will We Cover Who is Senior Financial Group & About Me History of Medicare Eligibility for Medicare When/How to Enroll in Medicare Medicare Part A, B, C, D Medicare Advantage vs Medicare Supplement How we can help you, your family and friends Q&A www.sfgmedicare.com
- 3. Who is Senior Financial Group? Founded in 1983 2000 Licensed Life & Health Insurance Agents in 46 states Represent over 35 of the most reputable Companies Offer Medicare plans, Life Insurance, Dental, Marketplace, LTC, & more Educate & Guide Clients for FREE Enroll in Government Programs www.sfgmedicare.com
- 4. Heather Majka, CPCU, CSSCS 25 Years of Insurance Experience With Senior Financial Group for 10 years Oversight of Agents, Training, Compliance, Education, and Customer Service Certified Social Security Claiming Strategist www.sfgmedicare.com
- 5. LBJ enrolled President Truman as the first Medicare Beneficiary LBJ signed Medicare into law July 30, 1965 History of Medicare The average person retiring was male. The average life expectancy was 68 years! Medicare Part B cost just 3 dollars per month. 19 Million People signed up the first year Insurance options started in 1976 Part D began in 2006 Evolution of Program continues… www.sfgmedicare.com
- 6. www.sfgmedicare.com Average Life Expectancy now: 78 years Average Life Expectancy in 2020: 89 years Over 55 Million Enrolled in Medicare as of 2015 17% are under 65 Then & Now
- 7. How Do I Qualify? Age 65 +U.S. citizen/legal resident +10 years working in Medicare covered employment Under Age 65 and deemed disabled by Social Security for at least 24 months ESRD or ALS (any age) www.sfgmedicare.com
- 8. How Do I Enroll? Auto Enrolled (part A & part B) if collecting Social Security Visit www.ssa.gov or call 1-800-772-1213 or go to local office (we can help) If you or your spouse work and have health insurance you may be able to delay part B If you don’t enroll timely – enrollment restrictions & penalties may apply www.sfgmedicare.com
- 9. When Can I Enroll? When you turn 65 (7 month window) When you retire if after 65 and loosing creditable coverage Similar timeframes for part C & part D in addition to Annual Enrollment Window 10/15 – 12/7 Coverage CANNOT be back dated List not all inclusive, work with an expert www.sfgmedicare.com
- 10. What does Part A cover? Inpatient Hospital Home Health Care Skilled Nursing Hospice www.sfgmedicare.com
- 11. 2017 Medicare Part A Costs Per Benefit Period www.sfgmedicare.com
- 12. Benefit Period Home and out of the hospital (or skilled nursing) for 60 consecutive days without receiving care www.sfgmedicare.com
- 13. 2017 Medicare Part A Costs Per Benefit Period www.sfgmedicare.com
- 14. Understanding Part B Costs Must Pay a Monthly Premium Medicare Part A is Free if you worked enough but Part B has a monthly premium and it changes annually www.sfgmedicare.com
- 15. Medicare Part B • Monthly Premium • Yearly Deductible • 20% Co-Insurance Part B Covers: Doctor visits Diagnostic Tests Some preventive services Ambulance & Emergency Room Durable Medical Equipment Physical Therapy Mental Health Medical Supplies www.sfgmedicare.com
- 19. Some Key Differences Health Questions Required? YES NO Regulated by State? YES NO County Residency Requirements? NO YES Enrollment Periods? NO YES Includes Prescription Drug Coverage? NO YES
- 21. Medicare Part D All Plans have tiers/formulary & coverage rules All Plans based on Calendar Year www.sfgmedicare.com
- 22. Things To Consider Who can you trust? Where do you want to get care now & in the future? What medications do you take? What will you total medical costs be (including premiums, co-pays, etc.)? Do you travel much? Are you will to re-evaluate your decision every year? www.sfgmedicare.com
- 23. We Can Help Agents Licensed in 46 States 1-800-677-0153 865-777-0153 www.sfgmedicare.com
- 24. What type of Help do we Provide? Questions for HR & Benefits Administrators Determining Creditable Coverage Analysis of coverage continuation, comparison and coordination Social Security Planning Community Resource Referrals Patient Assistance Programs & Foundations www.sfgmedicare.com
- 26. VISIT US ON THE WEB AT SFGMEDICARE.COM Like us on Facebook at www.facebook.com/sfgmedicare Follow us on Twitter at www.twitter.com/sfgmedicare Subscribe to our YouTube channel Tell friends & family about us Stay up to date & thank us
- 27. A few of our clients…
- 28. Q & A