Medicare Insurance Considerations: A Guide for Seniors in Ruidoso, NM

For seniors in Ruidoso, NM, and across the United States, enrolling in Medicare insurance when they reach the age of 65 is a common practice. Both new applicants and existing policyholders have numerous factors to consider when devising their plans. Here are some considerations that are vital when shopping for a Medicare insurance plan:

Network Limitations

If you choose a Medicare Advantage plan, you may encounter restrictions associated with physician, hospital, and specialist networks. It’s crucial to thoroughly review your new insurance plan’s network to ensure that it includes a doctor with whom you’re comfortable. If not, you might have to pay more for the same care or switch your primary care provider altogether.

Coverage Options

Another significant factor is your coverage options. While Medicare is useful in many cases, you might want to consider other types of insurance as well. This can include prescription coverage, supplemental and gap coverage, and even insurance that provides support if you need medical care while overseas. The kind of coverage you should obtain will vary according to your situation and personal needs, along with your budget for coverage.

It’s always a wise choice to opt for Medicare insurance when you are in the Ruidoso, NM area. When shopping for insurance, our team at Family Insurance Associates is available to help you create your plan. Our professionals will ensure you fully understand your options and guide you in building a plan that best suits your situation.

Whether you’re approaching retirement age or have a health condition that can significantly affect your future, signing up for Medicare is essential in preparing for your health-related needs. Understanding the enrollment process can help make the transition to Medicare smoother. Here are three critical things you should know about the Medicare enrollment process: 

• Initial Enrollment Period: The first opportunity most people have to sign up for Medicare is the Initial Enrollment Period (IEP). This period consists of six months, including the three before your 65th birthday and the three following that month. There’s also a General Employment Period, which begins on January 1st and goes through to March 31st each year. However, enrolling during this period can lead to delayed coverage, and you may face late enrollment penalties. 
• Reliable Source: When you’re in the process of signing up for Medicare and you reside near Ruidoso, NM, you want to have a reliable source to turn to, such as Family Insurance Associates. This way, you can read about various topics that may fit your specific situation. Also, you can obtain information for those residing in your general area. 
• Coverage Options: Medicare consists of several parts, each covering different healthcare aspects. Part A covers the hospital portion, and Part B covers the medical services. Part C combines Part A and Part B. Part D is the prescription drug coverage.

You’ll find detailed information on Family Insurance Associates that can break down each part for those near the Ruidoso, NM area. This way, you can enroll in the type of Medicare that will most meet your health-related needs.

Health insurance is necessary for most individuals to ensure they can pay for routine and emergency medical treatment. Anyone currently interested in receiving Medicare can reach out to the experts at Family Insurance Associates, proudly serving the residents in and around the Ruidoso, NM, area.

Medicare Coverage 

Anyone wanting to sign up for Medicare coverage can begin the process three months before their 65th birthday. This coverage is designed for older adults 65 years of age and older. Anyone with questions related to Medicare coverage can consult with our Medicare experts to get more details. Our agents are highly trained to help customers learn more about the coverage this health insurance provides. They also review the fine print to ensure everyone understands the terms and conditions.

Medicare offers specific coverage for its individual parts. For example, Medicare has parts B and D. Some coverage covers regular medical expenses, while others cover pharmaceutical and similar health maintenance products. Medicare allows older Americans to get affordable coverage to help maintain their health and manage any health conditions.

Having Medicare is also an important financial planning tool to help manage expenses. Individuals who sign up for Medicare through our agency can access Top Notch customer service and ongoing customer care. Our team can assess each situation and submit any required documents for coverage or claims.

Reach Out Today 

Anyone interested in learning more about Medicare insurance coverage or wanting to sign up for a policy can contact us for a consultation. Call or stop by the office of Family Insurance Associates, proudly serving Ruidoso, NM. Get the quality medical coverage necessary to avoid difficulties and ensure peace of mind.

Medicare covers persons over the age of 65, young people who are disabled, or persons requiring a kidney transplant or dialysis (End-Stage Renal Sickness). This is an insurance program by the federal government. Family Insurance Associate offers alternatives to the original plan by the national health (part A and B) for drugs and health coverage in Ruidoso, NM. Our services may include coverage for prescribed medications, or one may need to purchase part D cover separately. We also have Medigap plans B and N for Medicare supplements.

From our options, you can opt for a plan that caters to out-of-pocket expenses that Ruidoso’s original method doesn’t have, like deductibles and coinsurance. With us, you can buy part D as a standalone cover too. We follow the rules set by Medicare and dully notify our clients of any changes before starting the following enrollment period.

How Family Insurance Associates work with Medicare

Each entity (Us and the Primary payer) coordinates with each other to determine who pays for your services first. We pay for what our primary payer cannot pay or what is missing in the stated plan between our clients and their primary payer. The primary payer pays up to what the client has bargained for, and we pay the remaining costs that have no coverage on the latter’s plan.

We provide extensive research findings and sources for the best providers for vision, hearing fitness programs, routine dental checkups, and cleaning, among our exclusive Medicare drug plan coverage. All these come to ensure you get the best satisfaction.

Are you ready to purchase Medicare Insurance? Family Insurance Associate is your ultimate place of insurance in Ruidoso, NM. We strive to attend to all insurance queries you may have and help you source the best programs in New Mexico, among them Humana, Cigna, and United Healthcare Insurance. Call or visit us, and we will give you coverage that is perfect for you.

In general, Medicare is available for anyone over the age of 65. However, some people with certain disabilities may be able to obtain coverage through Medicare at a younger age. If you think you have a qualifying disability, Family Insurance Associates of Ruidoso, NM is happy to discuss available options with you.

What Disabilities Qualify for Medicare?

In order to qualify for Medicare under the age of 65, a person must have been receiving Social Security Disability benefits for at least two years. In addition, someone with End-Stage Renal Disease or Amyotrophic Lateral Sclerosis may also qualify for coverage.

It is important to note that there is a waiting period of five months for a person to begin collecting disability benefits once it has been determined that they are disabled. However, people with ALS or ESRD are not required to collect benefits for the two-year minimum in order to qualify for Medicare.

To qualify for Medicare with ESRD, the person must generally have completed three months of regular dialysis or have had a kidney transplant. People with ALS are eligible for Medicare as soon as they begin collecting disability benefits.

Enrolling in Medicare

Typically, once someone meets the criteria for Social Security Disability, they will be enrolled in Medicare Part A and Part B automatically. Anyone who meets the requirements but does not qualify for Social Security benefits will be able to purchase Medicare and pay a monthly premium for Part A and Part B.

Anyone qualified for disability benefits will receive a Medicare card via mail once the required time period passes. In the event they do not receive a card, they will need to contact the Social Security office directly.

If you need help in determining the benefits for which you qualify, contact Family Insurance Associates of Ruidoso, NM.

Medicare insurance is a powerful way of providing yourself with the coverage needed to handle your various healthcare needs. However, not everyone will qualify for this type of coverage. Do you know if you can get it? If not, you should read this article that we at Family Insurance Associates prepared for Ruidoso, NM area residents.

Do You Qualify for Medicare Insurance?

Medicare is set up for people who may not get other types of insurance or fall into specific categories. Most people who qualify are age 65 or older and need this type of insurance to pay for old-age treatments or to supplement what may be a potentially limited income situation. 

Likewise, younger people with some disabilities or end-stage renal disease may qualify for some types of Medicare. Two types exist, Part A and Part B. The first part is the most common type and is available to older people and those with disabilities. However, Part B can also supplement some of your payments.

If you aren’t sure if you qualify (due to either being too young or having been denied disability in the past), you might want to talk to your insurance agent to see what other factors may affect your qualification. Some people may even be over 65 and find that limitations (such as not paying Medicare taxes) may impact their policy. 

We Can Help You If You Want or Need Medicare 

If you qualify for Medicare or need help figuring out if this insurance option is suitable for your needs, please don’t hesitate to contact us today at Family Insurance Associates right away to learn more. Our team can help people in the Ruidoso, NM area understand their unique policy options and what kind of coverage is available to meet their needs as people.

Most people look forward to the day they move from private insurance to medicare because now they won’t have to go through the arduous task of choosing a health care plan every year. With the introduction of Medicare Advantage Plans and their expanding array of benefits, choosing has come back into the picture for retirees. At Family Insurance Associates in Ruidoso, NM, we are here to help with this important decision. 

Original Medicare

Original Medicare covers Americans how have reached the age of 65. It is a point of service plan. Any provider who accepts Medicare can be used. Medicare pays 80% of assigned fees and users responsible for the additional 20%. For that reason, about 40% of those who use original Medicare have a Medicare Supplement Policy. These can be pretty pricey depending on how much they cover. Original Medicare does not cover drugs, dental, vision, or hearing. You will need to get a Medicare Part D prescriptions drug plan. 

What is a Medicare Advantage Plan?

Medicare Advantage plans are insurance plans for seniors that take the place of traditional Medicare. They must cover the same thing original Medicare covers and everyone who is eligible for Medicare can opt to have one. One disadvantage of MA plans is they are managed care and you will need to choose your providers from within their network. Depending on the network you choose, this may not be a disadvantage at all. Many major insurance carriers have gotten into the MA business including Blue Cross, Aetna, and United Healthcare.  

Medicare Advantage Plans have many additional benefits that may be available to members. These include dental coverage, vision coverage, hearing aids, Silver Sneakers, rides to medical appointments, home meal delivery, and OTC medical supplies. Additionally, many plans also include prescription coverage. The biggest advantage is not having to deal with any paperwork to get services paid, it is all one carrier. 

Contact Family Insurance Associates in Ruidoso, NM to talk about whether a Medicare Advantage plan is right for you. 

When you near 65, you need to begin considering Medicare. You need to sign up about three months before your 65th birthday, but you can plan ahead for which options you will choose. Medicare is a set of insurance plans designed specifically for older Americans, but many people with disabilities and some people who have experienced kidney failure qualify. 

The options bit refers to the parts of Medicare. The original plan includes Part A and Part B, but the updated Medicare also has Part C and Part D and Medigap (supplemental insurance). The latter comes from private insurance companies like Family Insurance Associates of Ruidoso, NM.

Through Social Security, you enroll in the original Medicare to obtain hospital and medical coverage. Part A covers hospital stays or short stays at a nursing home after a hospital stay. It also provides limited coverage for hospice or home health care. This comes free if you worked and paid Medicare taxes during your time as an employee. Part B covers doctor visits, outpatient and home health care, selected preventative services and some durable medical equipment. This you pay a premium to obtain.

Part C, also called Medicare Advantage, includes Part A and Part B coverages as well as dental, hearing, and vision insurance. It also provides prescription drug coverage. Everything comes in one bundle.
Part D provides prescription drug coverage. You might want to add D to A and B, but if you choose C, you do not also need A, B, and D because they are all in C.

The supplemental plans sold by private insurance companies still have to follow Medicare rules. The supplemental plans aka Medigap pay coinsurance, copays, and deductibles.
You only get a six-month window to apply. It begins three months before your 65th birthday and expires three months after it. If you do not jump on your registration for the coverage then, you must wait for a special enrollment period.

You can just accept the free Part A or apply for Parts A and B, but B comes with a premium. You can turn down B, then change your mind later, but you will pay more in premiums. For every 12-month period that you do not enroll in Part B, your premiums increase 10 percent. Each year, there is a general enrollment period from January 1 through March 31. Coverage does not start immediately but on July 1 of the same year. You can use Medicare with your employer’s insurance and your Health Savings Account (HSA).

So, Medicare is for those who have reached the age of 65 or have a disability. Part A comes free. All other parts cost money. Those who can afford Part C coverage obtain full medical coverage plus prescription medication coverage. You also add just Part B to get help with doctor visits or Part D to cover just prescription drugs. Your choices depend on your income.

Let Family Insurance Associates of Ruidoso, NM help you choose the Medicare plan that best suits your needs. While Medicare is eventually for everyone, the parts you need differ from those your neighbors might. Contact us today to make the right choice for your financial and medical future.

As the baby boomers get older now, many people are reaching the age of 65, which is when they qualify for Medicare. There are four categories of Medicare coverage that are called “Parts,” and with a letter, as in Part A, B, C, and D. The decisions about Medicare are complicated. It is best to work with your agent at Family Insurance Associates, serving Ruidoso, NM, and the surrounding area to understand your choices better.

Here are the usage areas of the categories:

• Part A — Hospital Costs
• Part B — Medical Costs
• Part C — Medicare Advantage
• Part D — Medicare Prescription Drug Coverage

Americans, who paid enough payroll taxes (for more than 30 quarters) during their lifetime, qualify for the free Medicare — Part A. This is also called “premium-free Part A.” All you need do is apply for Medicare when you turn 65 to get these benefits.

If you are admitted to a hospital, you will pay a $1,408 deductible (as of February 2020) for each insured period of a year. There are no co-insurance payments (co-pays) for the first 60 days of your hospital stay.

From day 61, you will pay a co-pay of $352 per day up to 90 days. From day 91, you will pay a co-pay of $704 per day for up to the maximum lifetime reserve days of a total of 60 days. Lifetime reserve days are those days that exceed the period limits reserved for your entire lifetime. After you use up your 60 lifetime reserve days, you have to pay for all hospital costs.

Medicare Supplemental Insurance

The other Medicare coverage offered under Medicare Part B, C, and D requires that you pay a monthly premium to get the benefits. The premium for Part B, which allows you to see a doctor, who will accept the Medicare-approved amount for certain services, starts at $144.60 (as of February 2020) and goes up according to your income. The deductible is $198. The co-pays are usually 20% of the cost of medical services.

The monthly premiums and coverage for Part C and D vary by the plan. There are many programs to choose from for Part C and Part D. These are all called Medicare supplemental insurance. Contact your agent at Family Insurance Associates in Ruidoso, NM to discuss Medicare and Medicare supplemental insurance and to get a quote.

You may wonder if you’re eligible for Medicare, especially when an insurance policy is so expensive. According to the American Association of Retired Persons (AARP), it’s expected that 79 million people will have Medicare by 2030. This rise may be attributed to the high number of individuals who are turning the age to collect these benefit. Family Insurance Associates, serving Ruidoso, NM and the surrounding area, helps individuals understand when they’re eligible as well as other specifics regarding Medicare. 

Age Plays a Role

Generally, you can’t receive Medicare unless you’re 65 or older. At this age, you’re eligible for part A, which is hospital insurance. Additionally, you qualify for part B, which is your standard medical insurance. Moreover, if you’re eligible for these two plans, you also can receive a prescription plan, more commonly known as a Part D plan. A spouse who isn’t working may collect at age 62. 

How Long You Worked

You have to work at least 10 years to qualify for Medicare benefits. You have to earn at least 40 credits. You earn each credit by working for a quarter. You can still qualify for Medicare if you don’t have enough credits; however, it’ll affect how much you have to pay for your premium. 

Certain Disabilities

If you have certain disabilities, you may qualify for Medicare, even if you’re not 65 or don’t have a spouse who’s 65 or over. You must qualify for Social Security Disability to also qualify for Medicare. Before you can apply for Medicare, you have to collect either certain Railroad Retirement Board benefits or Social Security Disability benefits for at least two years. 

Certain Diseases

You may qualify for Medicare based on your medical conditions, such as end-stage renal disease or amyotrophic lateral sclerosis (ALS). You may even utilize your Medicare benefits at the same time as your disability benefits. 

Discuss Medicare benefits with an insurance professional from Family Insurance Associates, serving Ruidoso, NM and the surrounding region, by contacting us at 575-257-6146.