Understanding Medicare Insurance
Heartstone Insurance in Henderson, Nevada is here to help you navigate the complex world of Medicare insurance. Andi and her professional team are dedicated to providing you with clear, straightforward answers to your most pressing questions.
How Medicare Brokers are Compensated
Expert Medicare brokers receive compensation via commissions from the insurance companies they work for. This payment system is regulated by the Centers for Medicare and Medicaid Services.
The beauty of this arrangement is that it allows you to consult and enroll through a broker at no additional cost to you.
Medicare Costs
The standard Part B premium for 2023 is $164.90 per month, a cost that is covered by most individuals through a deduction from their Social Security check or direct payment to Medicare.
It's important to note that individuals with higher incomes may be subject to an income-related monthly adjustment amount (IRMAA).
Understanding Late Enrollment Penalties
Missing the Initial Enrollment Period for Medicare can result in late enrollment penalties. A common misconception is that past 65, working individuals will qualify for a Special Enrollment Period — this is not always the case.
Therefore, it is crucial to be conscious of these potential penalties and how to avoid them.
Understanding Late Enrollment Penalties
Missing the Initial Enrollment Period for Medicare can result in late enrollment penalties. A common misconception is that past 65, working individuals will qualify for a Special Enrollment Period — this is not always the case.
Therefore, it is crucial to be conscious of these potential penalties and how to avoid them.
Why Brokers/Agents Matter
Choosing to work with a licensed Medicare insurance broker like those at Heartstone Insurance offers several benefits. Andi provides personalized guidance based on your unique needs and can offer a broader comparison of plans from different insurers.
She is trained to help you find the best plan for your specific health requirements and have access to exclusive information. Plus, the cost of your Medicare Part B remains the same whether you use a broker or not.
Differences Between MAPD (Part C) and Medicare Supplement
Medicare Supplement plans are designed to cover gaps in Medicare Parts A and B, offering you protection against high medical expenses.
On the other hand, Medicare Advantage with Prescription Drug (MAPD) Plans combines traditional Medicare coverage with added benefits like vision and dental coverage.
Understanding these differences is key to choosing the right plan for you, and Andi is here to help.
Seek Medicare Insurance Advice
Medicare insurance agents have access to information that common consumers do not. As independent brokers representing multiple carriers, they offer unbiased opinions on Medicare plan options and are always eager to recommend the most viable.