Agent & Broker
MEDICARE PLANS
Medicare is a federally-funded health insurance program that provides medical coverage to people who are 65 years of age or older, as well as to certain individuals with disabilities and people with end-stage renal disease.
Medicare plans offer a large and growing market of seniors who need and want health coverage more then ever. As agents or brokers you can earn top commissions on Medicare sales, while helping your clients navigate the complex world of Medicare and choose the best plan for their individual needs.
Medicare Part A
Medicare Part A or Hospital Insurance is for people Part A specifically provides coverage for inpatient hospital care, skilled nursing facility care, hospice care, and home health care. Medicare Part A typically does not have a monthly premium, but there are some out-of-pocket costs such as deductibles and coinsurance.
Medicare Part B
Medicare Part B or Medical Insurance helps cover services from doctors, outpatient care, preventive services, and medical equipment. Medicare Part B has a monthly premium, as well as a deductible and coinsurance for certain services. Premium and deductible amounts vary depending on their income.
Medicare Part C
Medicare Part C, also known as Medicare Advantage, is an alternative to Original Medicare (Part A and Part B) offered by private insurance companies approved by Medicare. Medicare Advantage plans usually include all the benefits of Original Medicare, but can also include benefits such as vision, dental and more.
Medicare Part D
Medicare Part D or also known as the prescription drug plan. Part D provides prescription drug coverage who are enrolled in Medicare Part A and/or Medicare Part B. Medicare Part D plans can help cover and pay for the cost of prescription drugs, including both brand-name and generic medications.
What' Medicare Plans are the Right fit for your clients?
As far as choosing the “right” Medicare plan, it really depends on individual needs and circumstances. To help your clients find the “right” Medicare plan, you can assist them in making an informed decision when considering some of the following features and aspects of each type of Medicare plan.
Health status and medical needs: Consider the medical services and treatments your client needs and how often they will use them. Some plans may offer better coverage for certain services or conditions.
Cost: Compare the monthly premiums, deductibles, and co-payments of different plans to find one that fits their budget.
Provider network: Check if their healthcare providers accept the plan they’re considering. Some plans may have a restricted network of providers, while others may offer more flexibility.
Prescription drug coverage: If they take prescription drugs, consider a plan that offers comprehensive coverage and includes their medications.
Additional benefits: Some plans may offer additional benefits such as wellness programs, fitness memberships, or transportation services, etc.
Medicare Advantage (MA) Competitive Overview
Medicare Facts:
What You Should Know
Medicare Advantage Open Enrollment Period (MAOEP) is an important time period for seniors to review and make changes to their current Medicare Advantage plan. During this time, seniors have the opportunity to switch to a plan that better meets their needs. They can also add or drop optional supplemental benefits, such as dental and vision coverage.
It’s important to take the time to compare plans and consider the coverage and costs associated with them to ensure seniors are getting the best plan to meet their needs.
Medicare Advantage special enrollment. (SEP) is an important time often overlooked. During this period there are options to review and make changes to the Medicare Advantage plans and Medicare prescription drug coverage. During this time beneficiaries have the opportunity, when eligible to enroll between April 1st and September 30th. This time is also known as the Rest of Year (ROY.)
Medicare Annual Enrollment Period (AEP) is a period of time in which those who are already part of a Medicare plan can make changes to their coverage. Individuals eligible for Medicare may also join a Medicare Advantage plan during AEP. This period usually takes place annually in October and November, and it allows individuals to enroll in a new Medicare plan for the upcoming year.
During Medicare AEP, those who are already enrolled in a Medicare Advantage plan can switch to another plan, switch from Original Medicare to Medicare Advantage, or switch from Medicare Advantage back to Original Medicare.
People with disabilities and those who are 65 and older can also join a Medicare plan during AEP. Additionally, those who are already enrolled in Original Medicare or a Medicare Advantage plan can join a Part D drug plan or switch to a different Part D drug plan during AEP. All these changes that are made during Medicare Annual Enrollment Period will take effect on January 1st of the following year.
You can make changes to your Medicare Advantage and Medicare prescription drug coverage when certain events happen in your life, like if you move or you lose other insurance coverage.
Rules about when you can make changes and the type of changes you can make are different for each SEP. Other examples Medicare Advantage special enrollment eligibility can be found at: https://www.medicare.gov/basics/get-started-with-medicare/get-more-coverage/joining-a-plan/special-enrollment-periods
Each plan has a different set of rules and regulations, but in general, beneficiaries can make changes to their plan during the annual enrollment period or if they experience a qualifying life event during special enrollment period.
Changes allowed during an annual enrollment period include increasing or decreasing the plan’s coverage, changing the plan type, and switching to another plan altogether. Additionally, if a beneficiary experiences a qualifying life event, they may be able to make certain changes outside of the annual enrollment period. Qualifying life events may include the birth of a child, a move, a change in marital status, or a change to retirement status.
You cannot make changes to your Medicare Advantage and Medicare prescription drug coverage for the first time, unless it is your initial enrollment period (IEP). You cannot make changes if you do not meet the eligibility requirements for one of the special elections.
Agility Insurance Services stands out from the competition by offering our agents a truly unique opportunities to boost your sales and grow your medicare business.
From offering agents the ability to customize their marketing to match the individual needs of their clients, to providing access to a wide range of innovative industry tools such as our Digital Medicare Quoting & Enrollment Platform to help close more sales.
Furthermore, with unbeatable customer service and unparalleled attention to detail, we allow agents to provide your clients with the best possible coverage and ensure that their needs are met with the utmost professionalism. With Agility Insurance Services, agents can look forward to a rewarding and successful career as a professional insurance agent.