By Michael Cohen
Medicare alone is not enough! Medicare Supplement insurance is available for those of us who are 65 and older. When was Medicare started? In 1965 President Lyndon B. Johnson signed the bill for the start of Medicare. Medicare pays only for Plan A which covers part of your stay in the hospital. The cost of Plan A from the government is taken directly out of your Social Security check. Plan A does not pay for doctor’s visits or prescription drugs.
Since Medicare alone is not enough to cover expenses such as doctor’s visits and prescription drugs, in 1985 the insurance companies introduced a plan called Medicare Supplement Insurance that would fill the gaps in the Medicare government sponsored plan. You may buy Medicare Advantage which is an HMO (and limits you to a select group of doctors and hospitals in one region), or you can buy Medicare Supplement Insurance which allows you to go anywhere to any Doctor’s office who takes Medicare and pays all or part of your costs.
Are you turning 65? You may apply for Medicare and Medicare Supplement Insurance 90 days before your birthday and/or 90 days after your birthday.
Check your current rates for premium increases. You may change insurance companies one month before and one month after your birthday with no health questions asked.
I am Michael Cohen, age 71 and have been in the insurance business for 41 years with an A+ rating from the BBB. I can tell you more about your many options. Already have a plan? I can help lower your rate through an easy process that may allow you to keep your own doctors. It is also wise to check your plans every year since Insurance companies often raise the premiums on the plans on your anniversary date. Experts advise seniors not to simply “re up,” and keep their current plans without checking to see if coverage levels, premiums, out-of-pocket costs, and doctor and hospital networks are still appropriate.
Call me at 314-432-1888 or email me at mscohen91444@aol.com to discuss these plans and costs of Medicare Supplement insurance in my office or in your home.