Knowing Your Options
No plan is perfect but finding the right Medicare solution for your specific healthcare needs and budget takes really understanding your options. Our Medicare Insurance advisors are not only specially trained in Medicare insurance, they have first-hand knowledge navigating the Medicare system. They’ll break it down for you so you can understand all different parts of Medicare – the complicated terminology, the constantly changing regulations, and the multitude of new plans released every year. Learning Medicare as you go could be devastating. Let one of our advisors assist you today, and then year after year, in finding a plan that you can afford, that keeps you healthy and living life to the fullest.
Medicare Advantage
Medicare Part D
Medicare Supplements
Additional Benefits
Whether you are new to Medicare or already have a plan, we start with a comprehensive analysis to understand and match you to the best Medicare solution for your needs and budget.
About Medicare
Medicare has 4 parts (not to be confused with plans). Each part of Medicare helps pay for different health care costs. Some parts of Medicare are FREE, some require an additional premium. While Medicare is complicated, here we have broken down the different parts of Medicare to help you understand it better. Be sure to also view the educational videos on Medicare, provided a little further below on this page.
Medicare is the federal health insurance program for people who are 65 or older. The different parts of Medicare help cover specific services.
Medicare Part A (Hospital Insurance)
Part A is automatic and covers inpatient hospital stays, care in a skilled nursing facility, hospice care, and some home health care. Most people get Part A for free.
Medicare Part B (Medical Insurance)
Part B is automatic if you do not have other coverage through an employer or spouse. Part B coverage resembles what you may think of as traditional health insurance and covers certain doctors’ services, outpatient care, medical supplies, and preventive services. Most people will pay a standard Part B premium which varies depending on income.
Medicare Advantage Plans are offered by private carriers and replace your original Medicare Parts A and B, as they are rolled into one plan. You can select between an HMO or PPO, and most plans may cover more of your healthcare costs and have additional benefits, such as prescription drug coverage. Some may have dental or vision benefits. Premiums vary based on coverage, carrier and geographical location.
Prescription drug coverage offered by private carriers contract with Medicare. Because premiums vary greatly, you should carefully weigh your prescription costs against all variables of these plans. Selecting the wrong plan can wind up costing you thousands. Some Medicare Advantage plans may offer prescription coverage as well.
Please note that you should sign up for Part D (even if you do not have prescriptions) when you first turn 65, as waiting may result in a costly monthly penalty added to your premium.
Medicare Supplement Insurance Plans add extra coverage to your Original Medicare Parts A and B. They cover some, if not all, of the expenses that Part A and B do not cover, like co-pays, deductibles and other charges.
There are many different types of Medicare Supplement policies available, however they are regulated so the benefits for these various policies (known as Plan A through N), are all the same regardless of the carrier. However, premiums can vary greatly among carriers.
Medicare annual open enrollment is October 15th through December 7th every year.
To sign up for original Medicare Parts A & B, along with Part D, most people will have an Initial Enrollment Period which is a 7 month period around the time they turn age 65. This period begins 3 months before the month you turn 65, includes the month you turn 65, and ends 3 months after the month you turn 65.
Once your Initial Enrollment Period is over, if you wish to change or purchase Advantage or Part D Plans, you must act during the open enrollment period.
NOTICE: Once you are eligible for Medicare, do not wait to enroll in a Medicare Part D Plan or you could end up paying a penalty every month.
Once enrolled in Medicare, if you wish to change or purchase Medicare plans you must act during the open enrollment period.
When open enrollment is closed, there are special circumstances in which one may qualify to enroll outside of the enrollment period. Listed below are the qualifying events:
- You are turning 65
- You move to a new area that is not in your current plan’s service area
- Recently moved back to the US
- You lose your current coverage (either Group or Medicaid)
- You now need a SNP (Special Needs Plan) or you no longer need a SNP
Medicare & You
The following videos are provided by and copyright of The Centers for Medicare and Medicaid Services (CMS) and are for informational purposes.
Meet Your Medicare Insurance Advsior
Tom Woodward of Westwood Agency and his knowledgeable staff advise and guide individuals through the process of transitioning to Medicare.
With decades of experience, Tom and each insurance professional at Westwood Agency is properly trained on Medicare rules and regulations, and they continually update themselves on the constant changes within the Medicare system. They can help you transition smoothly into the right Medicare coverage that fully serves your healthcare needs, while protecting your life’s savings.
