Be Sure to Listen to the Audio!
We are pleased to introduce Ryan Raphael, The Medicare Man, from Senior Insurance Benefits as a new expert on our show. Ryan is the owner/broker of Senior Insurance Benefits and has been dedicated to helping seniors with their insurance needs since 2003.
Navigating the maze that is Medicare can be a very confusing process. That’s why we asked Ryan to join us so he can educate you on the ins and outs of Medicare coverage and insurance.
What is Medicare?
Medicare is a federal health insurance program for people age 65 or older and some younger people with disabilities. In 2015, Medicare provided health insurance for over 55 million people. On average, Medicare covers about half of the health care charges for those enrolled. People must then cover the costs either with supplemental insurance, separate insurance, or out-of-pocket.
Original Medicare is divided into 4 parts:
1) Part A (Hospital Insurance)
This covers inpatient hospital stays, care in a skilled nursing facility, hospice care, and some home health care.
2) Part B ( Medical Insurance)
B helps cover a portion of Medicare approved cost for outpatient medical services. This includes doctor visits, ambulance services, and some medical equipment and supplies to name a few.
3) Part C ( Medicare Advantage Plans)
A Medicare Advantage Plan is a type of Medicare health plan offered by a private company that contracts with Medicare to provide you with all your Part A and Part B benefits.
4) Part D ( Prescription Drug Coverage)
This is the prescription drug program that covers both brand name and generic drugs at participating pharmacies.
Figuring out which plan is right for you is a major part of what Ryan does, and he does free consultations so the advice is at no cost! Ryan says there are really only two choices for those looking enrolling in Medicare.
1) Original Medicare( Parts A and B), along with a Medicare supplement, and Part D drug plan.
2) A Medicare Advantage Plan
He says it’s really that easy, but there are some considerations to take when deciding. You’ll want answers to these questions:
- What plans will my doctor accept and can I keep them?
- How much does the plan cost?
- Which plan provides the best coverage for my prescription drugs and what will they cost?
- What plan addresses the special benefits important to me (gym membership, vision coverage, etc.)?
- What plan will cover me while traveling?
To get answers to these questions or to schedule a time to meet with Ryan personally call him directly at (314) 368-6808.