Corbin Insurance LLC

Quick Tip: If you forget your Medicare card, you, your doctor or other health care provider may be able to look up your Medicare Number online.

Fast Fact: Medicare Part C is another name for the Medicare Advantage program.

Planning your Medicare enrollment ahead of time will help you have a smooth transition. Most people become eligible for Medicare around age 65, so do your best to research before then

Is it mandatory to go on Medicare when you turn 65?
No, but there are significant penalties for late enrollment unless you have other creditable medical coverage, such as from a large employer.

Confused About Medicare? It is not unusual for a client to bring in a whole bag of mail that he has received at home and ask for our help to identify which things should be kept or tossed out.

Medicare Advantage plans work differently from Medigap plans, so make sure you understand all the differences between the two before signing up for an Advantage plan.

The Income Related Monthly Adjustment Amount (IRMAA) is an additional monthly charge that people with certain high-income levels must pay on top of their Medicare Part B and D premiums.

What is Medigap Attained-Age Rating?
Attained-Age Rating is a rating class in which a Medigap insurance company determines the rate based on your current age (the age you’ve “attained”). Your premiums tend to go up as you get older.

What does Dual-Eligible mean?
To be dual-eligible means to be eligible for both Medicare and Medicaid.

A Medicare Summary Notice (MSN) is a quarterly explanation of benefits statement that Medicare provides to show you the healthcare services received and what Medicare paid toward them. You should review your MSN to determine if you owe any balances that are due.

Also known as Medicare Advantage, the Part C program is a form of managed care that allows Medicare beneficiaries to get their Parts A and B benefits through a private insurance plan and its network of providers. Many Part C plans offer a built-in Part D drug plan.

The word Formulary means a list of prescription drugs covered by a prescription drug plan or another insurance plan offering prescription drug benefits. Also called a drug list.

Fast Fact: Originating in the 1960s, Medicare is a government-provided fee-for-service insurance program intended primarily for seniors.

Are you starting to get a lot of phone calls and things in your mail about Medicare Insurance Plans? Contact us today for a no cost consultation. We can educate you on your options.

When you enroll in an Advantage plan (Medicare Part C), you agree to receive your Medicare benefits through that private plan instead of through Original Medicare.

Quick Tip: Plan C covers all the gaps in your Medicare coverage, except Medicare Part B excess charges.

A Medicare Cost Plan is a type of Medicare health plan available in some areas. In a Medicare Cost Plan, if you get services outside of the plan's network without a referral, your Medicare-covered services will be paid for under Original Medicare (your Cost Plan pays for emergency services or urgently needed services).

An excess charge is if you have Original Medicare, and the amount a doctor or other health care provider is legally to charge is higher than the Medicare-approved amount, the difference is called the excess charge.

A Medicare approved amount is in Original Medicare, this is the amount a doctor or supplier that accepts assignment can be paid. It may be less than the actual amount a doctor or supplier charges. Medicare pays part of this amount and you’re responsible for the difference.

Turning 65 soon? Starting to feel overwhelmed by your Medicare choices? Contact us today to request a no obligation consultation.

Medicare Supplement plans cover 10 million Medicare beneficiaries. Also referred to as Medigap plans, these policies help pay for your share of Medicare expenses, such as your deductibles and co-insurance.

Feeling confused about your Medicare options? Let us educate you on your options. Request a no cost consultation today!

The deductible is the amount you must pay for health care or prescriptions before Original Medicare, your Medicare Advantage Plan, your Medicare drug plan, or your other insurance begins to pay.

Fast Fact: Whether you qualify for Medicaid coverage depends partly on whether your state has expanded its program. Medicaid benefits, and program names, vary somewhat between states.

The Medicare program has four different parts: Part A, B, C, and D. Part C, D, and Medigap plans are sold through private insurance carriers, not the federal government.

Turning 65 soon? Confused about Medicare? Let us educate you on your options. Request a no cost consultation today!

Fast Fact: You cannot contribute to a health savings account if you have ANY part of Medicare active. You also cannot accept any contributions from an employer if you have active Medicare.

The "MOOP" or Maximum Out-of-pocket limit is a yearly amount the federal government sets as the most each individual or family can be required to pay in cost sharing during the plan year for covered, in-network services. Applies to most types of health plans and insurance. This amount may be higher than the out-of-pocket limits stated for your plan.

Lost in the Medicare plan maze? Let us educate you on your options. Request a no cost consultation today!

In-network Coinsurance is your share (for example, 20%) of the allowed amount for covered health care services. Your share is usually lower for in-network covered services.