Had Enough of Joe Namath Yet?

WOW! There was probably a million TV commercials about Medicare during Open Enrollment this past Fall, and I think Broadway Joe was in half of them!

You probably saw more than I did, as I was working 15 hour days in October, November and December, but I heard about it at appointment after appointment.                            You may have wondered, “What is he talking about? You don’t get all this stuff for free!” And you weren’t about to call an 800 number to find out!

He was referring to Medicare Advantage Plans. Medicare Advantage is Part C of Medicare. It can be considered somewhat of a replacement for Original Medicare, as Medicare itself does not process your claims, the INSURANCE company you signed up with does. As such, the insurance company decides what your out of pocket costs  for hospital and medical services will be. Rather than deductibles and co-insurance, like Original Medicare, many Advantage plans have fixed costs for services in the form of co-pays.

“But Joe says everything is FREE!”

I think the idea behind the ads was to get the specific attention of those whose income is low enough to qualify for a particular segment of Medicare Advantage Plans, ones geared for those on Medicaid as well as Medicare. Those with incomes below the Federal Poverty Level for their household size may be eligible for a “Dual Eligible” plan, in which case, many services are at no cost. This may include a fair amount of dental, vision and hearing coverage at little or no cost as well. I’ve been told that only half of the individuals who would qualify for such a plan, actually have one…so the insurance companies are aggressively reaching out to this segment of the Medicare population.

By calling the 800 number to see, “IF YOU QUALIFY,” it opens the door for the agent on the other end of the line to not only see if you fit the strict guidelines for a Dual Eligible plan, it allows them to offer many, many other options to you IF YOU DON’T QUALIFY.

I have nearly 900 clients on a Medicare Advantage Plan. And it’s true, most do not pay a premium for their plan. (probably 90% of my Advantage plan clients pay ZERO premium). They still have to pay for Part B of Medicare, which is $144.60 a month in 2020, but no additional cost for the plan.

Medicare Advantage is one of the main “paths” to take when you are on Medicare. The other main path being Medigap, the insurance that supplements Original Medicare. When I meet with clients, we talk about both approaches. There is no single “right path” that fits everyone. But which one is right for you? I don’t know! That’s why we get together and figure it out!

I don’t have an 800 Number. I have a local number. (717) 468-0130.

And the only thing I can promise you for FREE…is my time. You’ll never pay me anything. And I come to see you. Plus I’ve done it probably 4000 times, so I can’t guarantee a Super Bowl victory, but I feel safe guaranteeing I know what I’m talking about, and a safe bet I know more than Joe Namath!