Medicare Plans

Medicare is available to those aged sixty five or greater and to those with Social Security Disability. Medicare takes effect the first day of the month of your sixty fifth birthday.

Medicare was designed to help with your medical expenses; it was never designed to pay all of your medical expenses. As a result you may wish to get coverage in addition to Medicare.

There are two general types of plans; Medicare Advantage plans and Medicare Supplement (also referred to as Medigap) plans. In the four to six months prior to turning sixty-five you will undoubtedly receive mountains of solicitations from various insurance companies touting their product. How do you determine which of the many product offerings is best for you? The easiest method is to meet with an independent broker that carries several insurance company offerings, such as Wavrock Health Insurance. You see, this isn't a cookie cutter situation. Your medical and prescription needs are different than your friends and neighbors. The best solution for one person is not necessarily the best for you.

Whether you select a Medicare Advantage or a Medicare Supplement, you still must continue to pay for your Medicare Part B.

Most Medicare Advantage plans have a $0 premium. Some of them even give you back up to $96.40 towards your Medicare Part B. Some have a low monthly premium. They all have different copay amounts for doctors, hospitals, prescriptions and outpatient procedures. They have different provider (doctor & hospital) directories and different prescription formularies (listing and divisions into tiers of varying copayment amounts). Some are HMO's, some PPO's and some POS's. Most offer prescription drug plans at no additional cost. As your needs vary, so does the ideal plan for you. You are permitted to change plans at specific times within the year. Therefore even after you've selected your ideal plan, it's good to have an annual review.

The Center for Medicare and Medicaid Services (CMS) requires that each agent/broker must be certified each year with each company they offer. Each company has various courses of study followed by exams. Usually the passing mark is 80 to 90% on these exams. As a result most brokers shy away from representing many companies. Wavrock Health Insurance offers Advantra Health, Coventry Healthcare, Evercare, Freedom Health, Optima, Quality Health Plans, Secure Horizons and Summit Health. Soon we will be adding Aetna and Humana.

Medicare Supplement plans vary from Plan A through the alphabet to Plan J*. CMS requires that the content of each plan is identical regardless which insurance company offers it. In other words Plan F from company ABC health is identical to Plan F from company XYZ Life & Health. Therefore once you select the best plan for you, it is just a matter of determining which company has the best rates. Wavrock Health Insurance has already conducted this research, thus saving you valuable time and worry.

Please contact us today for a no-charge no obligation evaluation of your Medicare needs.