SOMA Living December 2023

MEDICARE MEDICARE COVERAGE OPTIONS.

Medicare Parts A and B comprise what is known as Original Medicare. If you would prefer to enroll in a plan managed by a private health insurance company, you can choose Medicare Part C, or Medicare Advantage. Medicare Advantage plans combine Part A and Part B benefits, and often include Part D (prescription drug) benefits. Some beneficiaries prefer to have all of their coverage managed under one comprehensive plan. You must enroll in both Medicare Part A and Part B to elect an Advantage plan (and continue to pay your Part B premiums). Medicare will pay the Advantage plan administrator a monthly fee to manage your care, while the Advantage plan will deliver your benefits. The Difference Between Original Medicare and Medicare Advantage The difference between the two plans pertains to accessing your benefits. With Original Medicare, you are subject to deductibles and a 20 percent co-insurance on Part B. You can access care at any doctor’s office or hospital that accepts Medicare (which most do). Under a Medicare Advantage plan, you access care through a network of providers in your coverage area. You will owe co-pays that vary for different services, depending upon how your plan is structured. Some plans will charge a per-day co-pay for hospital stays, while others charge a flat amount for the entire stay. Advantage plans provide a safety net for catastrophic expenses. The plans include an out-of-pocket spending cap. When beneficiaries reach that limit, the plan kicks in to cover medical expenses for the rest of the year (Plan D expenses are calculated and managed separately). Choosing A Medicare Advantage Plan With so many options, choosing a Medicare plan is overwhelming. Fortunately, insurance professionals (like me!) dedicate themselves to learning all of the options available and can guide you toward the best plan(s) for your needs.

ROBERT HUBSMITH, CLTC Financial Services Professional

I help my clients (at no cost to them) get the best Medicare insurance plan to fit their unique health care needs and at the best price. Navigating the Medicare system can be confus ing and overwhelming, whether you are currently enrolled in Medicare or are newly eligible, so let me answer your ques tions, create a knowledge-based foundation, analyze options and ultimately guide you to an informed decision.

www.RHMediFactor.com

(201) 704-7872 rhubsmith@RHMediFactor.com

Robert Hubsmith, CLTC PINNACLE FINANCIAL SERVICES www.RHMediFactor.com

Rob Hubsmith is a licensed and trained independent insurance agent with over 30 years in the financial services industry. I am certified with many top Medicare Advantage, Prescription Drug and Medicare Supplement insurance plan carriers. I represent most major companies with a Medicare contract and am qualified to answer any questions you may have.

DECEMBER 2023 | SOMA LIVING 23

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