Medicare Insurance Agent
Long Beach California

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Medicare Insurance Agent

Using an independent Medicare insurance agent in your area can offer you information on all your Medicare alternatives. Partnering with an agent who is a Medicare expert will not only save you time but can also saving you money.  An agent will be familiar with the different insurance companies and how each one will work based on your individual medical needs.

As you are aware you have received hundreds of fliers in your mailbox from different insurance companies trying to win your business.  This is where using a Medicare insurance agent who is independent can help bring clarity to all of the confusion.  They represent your best interest and not the insurance company’s best interest.  Their job is to review your specific needs and then find the Medicare insurance plan that is best for you.

Medicare is a U. S. national healthcare program that was established in 1965 by the Social Security Administration (SSA) and is currently operated by the Medicare and Medicaid services. It generally covers Individuals aged 65 and over, although it also covers some young persons with disability compensation as established by the Social Security Administration, such as those with end-stage kidney illness and motor neuron disease.

As per the 2019 Medicare Trustees Assessment, Medicare provided health coverage to over 59.9M people in 2018, including more than 52 million seniors and nearly 8 million younger people. Medicare pays roughly half of people’s enrollee’s healthcare expenditures, as per annual Medicare Trustees surveys and studies by the country’s MedPAC committee. Most participants offset the remaining expenses by purchasing a Medicare supplement policy or by enrolling in a Medicare Advantage plan.

Medicare Beneficiaries face other healthcare-related expenditures regardless of which of those two choices they select. These expenses include things like copayments, co-insurance, and deductibles; the expenses of uncovered medical facilities such as long-term custodial care, orthodontic, ENT, and optometry; the expense of yearly physical tests; and the costs associated with basic Medicare’s lifelong and max out of pocket limits—are examples of expenses seniors face.

There are 4 total “Parts” of Medicare.  Not all of these parts of Medicare are required for you to sign up for.  Medicare Part A, Part B, Part C, and Part D are the four components of Medicare:

  • Part A: Inpatient, skilled nurse and terminal treatments are all covered under Medicare
  • Part B: Outpatient services, such as certain physicians’ offerings while hospitalized at a clinic, outpatient hospital fees, most physician office appointments even if the location is “in a clinic,” and most competently administered prescription medications, are covered under
  • Part D: mostly self-administered prescribed medications obtained at your local pharmacy.
  • Part C (Optional): also known as Medicare Advantage Plans, enables patients to choose from a myriad of health strategies that include at least the same delivery of services that are offered through Original Medicare Parts A and Part B. Most Medicare Advantage plans include Part D within the plan, and always a yearly max out-of-pocket expenditure confine that Parts A and B neglect. Before enrolling in Part C, a person must first sign up for Parts A and Part B.
Medicare Insurance

Medicare Insurance

Part B of Original Medicare covers costs for outpatient therapy, home care, health products, and some preventative services provided by physicians and healthcare professionals. You can enroll in Medicare Parts A and Part B using the Social Security Administration online application. You have the option to decline Part B coverage since it requires payment. 

If you’re 65 years old and qualified, your initial enrollment phase starts 3 months before your birth date, including the period you turn 65 and concludes 3 months following your birthday for a total initial enrollment period of 7 months.

If you postpone enrolling into Medicare Part B and do not have a qualified employer plan when you first become eligible for Part B coverage, you might have to pay a larger monthly premium as a penalty for delaying your enrollment into Part B. The lifetime late Part B late enrollment penalty may increase your Medicare insurance premium by 10 percent for every 12 months during which you were available for Part B but were not covered by a qualified plan. 

If you failed to sign up for Medicare Part B within your original enrollment period, you’ll have another opportunity every year from January 1 to March 31 throughout an “annual enrollment period.” The year you enroll into Medicare on a delayed basis, your insurance starts on July 1 of that year.  

The late enrollment penalty does not apply to individuals who were covered under a qualified employers plan.  Once you leave your employer’s plan you will qualify for a special enrollment period.  It will be important that you sign up for Part B and Part D once you lose your insurance coverage.

Special Enrollment Period (SEP)

You might not have to enroll for Medicare Part B at 65 years of age if you have health coverage via your company’s health insurance plan or your partner’s current employer’s health insurance plan. You may be eligible for a “Special Enrollment Period” (SEP) within which you can sign up for Part B and Part D coverage:

  • You or your partner can remain to be protected under the employers health insurance plan at any time during the period so long as it is considered creditable coverage.
  • The 8-month SEP starts following the conclusion of your corporate health plan insurance or the job on which it is founded, whatever occurs first.

It might be difficult to understand which of the different options is best for you to sign up for under Medicare.  The internet is a wonderful place to begin if you’re just beginning to learn about your Medicare choices. You might wish to inquire about Medicare insurance from family and friends who have Medicare already. There are other also community resources available to assist you in understanding your choices.

We recommend that you seek out professional help from one of our Medicare insurance agent’s as we know the inner workings of all available Medicare program options.  As your health insurance needs are different from others, having a Medicare Insurance Agent working with you to explore the hundreds of plan options, helps eliminate the countless hours you will spend trying to find the best Medicare plan for you.  

Using an insurance agent is completely free as we are compensated by each Medicare Insurance Company directly.  No matter if you went directly to a Medicare Insurance Company or through us, your cost will be the exact same.

What is a Medicare Insurance Agent?

A qualified expert who assists you in selecting and enrolling in a Medicare plan is known as an insurance agent. Agents are classified into two categories.

  • Independent: An independent Medicare insurance agent can work with a variety of insurance companies to market their Medicare products. From a range of services, the independent agent can select the insurance companies they want to offer that are most suited for their clients.
  • Captive: Only represent a single insurance company product and is unable to represent or sell outside products even if they are better than the product they represent.
What is a Medicare Insurance Broker?

An independent Medicare insurance broker is similar to a Medicare insurance agent. Insurance Brokers sell insurance plans from a variety of Medicare Insurance Companies.  They represent the client’s best interest and not the sole interest of the Medicare Insurance Company.

Medicare Insurance Agent
How Can a Medicare Insurance Agent Assist You with Your Medicare Options?

A Medicare Insurance agent may assist you in narrowing down your choices and selecting the best solution for you. To do so, they’ll need to know about the health objectives as well as your financial situation. They’ll offer you various choices for achieving your objectives while staying within your expenditure. They can assist you in enrolling in the program of your choice.

If the Medicare Insurance program you signed up for on your own doesn’t fit your expectation, please do not worry as you still have options.  During the annual open enrollment period that runs from October 15 through December 7 of each year, one of our Medicare Insurance Agents can assist you in finding a Medicare plan that is more suited to meet your health insurance needs. 

Using a Medicare insurance agent is absolutely free; you don’t have to pay for their services.

How is a Medicare Insurance Broker or Agent Compensated?

Medicare insurance agents and brokers have an agreement with Medicare insurance companies to offer their policies. They’re usually compensated on a commission basis. When you sign up for a Medicare plan, a broker or agent receives a commission from the Medicare insurance company.

The commissions that Medicare insurance brokers and agents earn for various plans is regulated by CMS. 

For instance, a Medicare Advantage Plan sold in California pays the exact same amount no matter which Medicare Insurance Company or plan you sign up with.  This ensures insurance agents will not sell a specific Medicare plan because they are compensated at a higher rate, as all plans pay the exact same amount.

No matter if you sign up directly with the insurance company or through an Medicare agent the cost of the plan is the exact same.

How Do You Locate a Local Medicare Insurance Broker or Agent?

We recommend that you talk with one of your friends or neighbors on who they recommend, as this can be a great starting place. 

You can also use the Locate Local Help searching feature on the Centers for Medicare and Medicaid Services’ healthcare.gov website. State insurance agencies can also help you locate licensed brokers.

You may verify the licensing condition of someone who purports to be a licensed insurance agent or broker on several government insurance agency web pages.

What are the Benefits of Working with a Medicare Insurance Agent?

Although working with a Medicare insurance agent is not required, here are the top three reason you may want to consider as reasons for doing so:

1.     Getting to Know Medicare

Medicare is a complicated system with a lot of moving parts. There is a plethora of programs, plan variations, perks, restrictions, and exclusions to consider, all of which might be bewildering. An honest and qualified Medicare insurance agent or broker may assist you in getting the most bang for your buck. Yearly, Medicare insurance agents who offer Medicare-related health insurance plans must pass national and local exams to demonstrate their knowledge and understanding of the program.  The study material and exams take an average of 3 weeks to complete from start to finish.

2.     Browsing for Multiple Businesses

You may need to consult with several insurance providers to discover the greatest Medicare program for your particular requirement. Partnering with an impartial Medicare Insurance Agent has several advantages, one of which is that they serve a variety of Medicare insurance companies. They may show you a variety of plan alternatives from several providers, improving your prospects of choosing the best fit.  Not only is a Medicare insurance agent looking at the plan benefits, but also your associated cost related to prescription drug cost and Medicare plan usage.

3.     Medicare Supplement or Medigap Plans

If you decide to stay on Original Medicare and purchase a Medicare Supplement plan aka: Medigap Plan after your guaranteed enrollment period, health insurers may utilize medical underwriting to determine the rate depending on your current health status. They could also reject to offer you coverage if you have any health complications. A Medicare insurance agent can assist you in determining which insurance company may be a better fit based on your medical conditions to satisfy the plan’s underwriting guidelines.

What Should You Look for in a Medicare Insurance Agent?

Licensure

Verify with your government insurance department to see if the Medicare agent is licensed before you use them. Their license information should be included on their business card and materials. Many government insurance authorities have websites where you may verify the validity of a agent’s license. They must be licensed in the state where they function, according to the Medicare program Services.

Experience

Choose an insurance agent that has extensive expertise in providing Medicare insurance in your region. Request recommendations from friends and relatives. Inquire about the sorts of policies handled by the agent, as well as the customer groups they often work with, during your consultation.

Customer service is important

By requesting recommendations from former clients, you might choose an agent that provides outstanding customer service. Ensure you schedule time to contact your recommendations.

Why Do You Need a Medicare Representative?

There is a multitude of reasons why you might need a Medicare insurance agent, and we’ve included a few of them underneath:

  1. There are no hidden costs, and your cost would be the same if you purchased the insurance straight from the provider.
  2. By evaluating plans from all providers vs. just one provider, an insurance agent can save you time and money.
  3. Medicare Insurance Agents can keep you updated about any changes on a yearly basis.
  4. They will assist you with completing all the needed Medicare applications.
  5. They will assist you in obtaining a better deal than you might obtain on your own.
  6. Can provide you with an unbiased view on all your Medicare choices.

Medicare is riddled with terminology and hundreds of plan options that may look and sound the same. If you’ve never handled anything like this before, you’re in for a big learning curve. This is when the role of an agent comes into play.

A qualified agent can search numerous policies from several companies efficiently and quickly, saving you precious time. Many participants are unaware that for the same insurance, various Medicare insurance companies charge varying prices.

Agents can assist you in determining the appropriate amount of coverage for your budget and requirements. This is something they do on a daily basis and they have software that helps them quickly generate quotes from all available insurance companies. They’ll be able to detect problems and offer advice based on their own experiences. 

Medicare Insurance Agents are also aware of Medicare insurance companies you may want to avoid due to a variety of reasons.  When you contact a trustworthy Medicare insurance agency, they will help answer all your questions and help sign you up with the appropriate Medicare insurance company.

Is it a Good idea to Bundle Your Medicare Insurance Coverage and your Part D Coverage?

If you are signing up for a Medicare Advantage Plan, you will not have a choice to select a different Part D plan outside of the single plan that is being offered.  However, if you are signing up for a Medicare Supplement plan, then you will have a choice of Part D plans to select from. 

There are times that going with the same Medicare insurance company will be your best option, however many times selecting a different company for your Part D coverage will end up saving you money.  Insurance companies do not offer multi-policy discounts if you combine your Medigap plan with your Part D coverage.

Integrity Now Insurance Brokers is your Medicare Insurance Agent Expert!

Integrity Now Insurance Brokers is here to help you with all your Medicare needs.  Our Medicare Insurance Agents have helped thousands of clients find the right plan for their individual needs. 

We are constantly looking for new ways to help educate our clients and new Medicare Beneficiaries about the ever changing world of Medicare.  Each year brings new changes to the Medicare system and it is our job to stay on top of those changes so you don’t need to.  

We service our clients in Arizona, California Nevada, Ohio, Texas, Washington and throughout the US.  Give one of our Medicare Insurance Brokers a call today.