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Senior Financial Group
www.sfgmedicare.com
Demystifying Medicare
What Will We Coveru Who is Senior Financial Group & About Me
u History of Medicare
u Eligibility for Medicare
u When/How to Enroll in Medicare
u Medicare Part A, B, C, D
u Medicare Advantage vs Medicare Supplement
u How we can help you, your family and friends
u Q&A
www.sfgmedicare.com
Who is Senior Financial Group?
u Founded in 1983
u 2000 Licensed Life & Health Insurance Agents in 46 states
u Represent over 35 of the most reputable Companies
u Offer Medicare plans, Life Insurance, Dental, Marketplace, LTC, & more
u Educate & Guide Clients for FREE
u Enroll in Government Programs
www.sfgmedicare.com
Heather Majka, CPCU, CSSCS
u 25 Years of Insurance Experience
u With Senior Financial Group for 10 years
u Oversight of Agents, Training, Compliance, Education, and Customer Service
u Certified Social Security Claiming Strategist
www.sfgmedicare.com
LBJ enrolled President Truman
as the first Medicare
Beneficiary
LBJ signed Medicare into law July 30, 1965
History of Medicare
ü The average person retiring was male.
ü The average life expectancy was 68 years!
ü Medicare Part B cost just 3 dollars per month.
ü 19 Million People signed up the first year
ü Insurance options started in 1976ü Part D began in 2006ü Evolution of Program continues…
www.sfgmedicare.com
www.sfgmedicare.com
u Average Life Expectancy now: 78 years
u Average Life Expectancy in 2020: 89 years
u Over 55 Million Enrolled in Medicare as of 2015
u 17% are under 65
Then & Now
How Do I Qualify?
u Age 65 + U.S. citizen/legal resident + 10 years working in Medicare covered employment
u Under Age 65 and deemed disabled by Social Security for at least 24 months
u ESRD or ALS (any age)
www.sfgmedicare.com
How Do I Enroll?u Auto Enrolled (part A & part B) if collecting Social
Security
u Visit www.ssa.gov or call 1-800-772-1213 or go to local office (we can help)
u If you or your spouse work and have health insurance you may be able to delay part B
u If you don’t enroll timely – enrollment restrictions & penalties may apply
www.sfgmedicare.com
When Can I Enroll?
u When you turn 65 (7 month window)
u When you retire if after 65 and loosing creditable coverage
u Similar timeframes for part C & part D in addition to Annual Enrollment Window 10/15 – 12/7
u Coverage CANNOT be back dated
u List not all inclusive, work with an expert
www.sfgmedicare.com
What does Part A cover?
v Inpatient Hospital
v Home Health Care
v Skilled Nursingv Hospice
www.sfgmedicare.com
2017 Medicare Part A Costs Per Benefit Period
www.sfgmedicare.com
Benefit Period
Home and out of the hospital (or skilled
nursing) for 60 consecutive days without
receiving care
www.sfgmedicare.com
2017 Medicare Part A Costs Per Benefit Period
www.sfgmedicare.com
Understanding Part B CostsMust Pay a Monthly Premium
Medicare Part A is Free if you worked enough but Part B has a monthly premium and it changes
annually
www.sfgmedicare.com
Medicare Part B• Monthly Premium• Yearly Deductible• 20% Co-Insurance
Part B Covers:ü Doctor visitsü Diagnostic Testsü Some preventive servicesü Ambulance & Emergency Roomü Durable Medical Equipmentü Physical Therapyü Mental Healthü Medical Supplies
www.sfgmedicare.com
Video
How does Medicare Work
www.sfgmedicare.com
VideoMedigap
www.sfgmedicare.com
Some Key Differences
Health Questions Required? YES NO
Regulated by State? YES NO
County Residency Requirements? NO YES
Enrollment Periods? NO YES
Includes Prescription Drug Coverage? NO YES
VideoMedicare
Advantage
Medicare Part D
u All Plans have tiers/formulary & coverage rules
u All Plans based on Calendar Year
www.sfgmedicare.com
Things To Consider
v Who can you trust?
v Where do you want to get care now & in the future?
v What medications do you take?
v What will you total medical costs be (including premiums, co-pays, etc.)?
v Do you travel much?
v Are you will to re-evaluate your decision every year?
www.sfgmedicare.com
We Can Help
Agents Licensed in 46 States
1-800-677-0153865-777-0153
www.sfgmedicare.com
What type of Help do we Provide?
u Questions for HR & Benefits Administrators
u Determining Creditable Coverage
u Analysis of coverage continuation, comparison and coordination
u Social Security Planning
u Community Resource Referrals
u Patient Assistance Programs & Foundations
www.sfgmedicare.com
Medicare.govTricare.milVa.gov
SHIP1-877-801-0044ssa.gov
SS1-800-772-1213Healthcare.gov
u VISIT US ON THE WEB AT SFGMEDICARE.COM
u Like us on Facebook at www.facebook.com/sfgmedicare
u Follow us on Twitter at www.twitter.com/sfgmedicare
u Subscribe to our YouTube channel
u Tell friends & family about us
Stay up to date & thank us
A few of our clients…
Q & A