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Specializing in Medicare, Supplemental Insurance, and Beyond. Let Jesse Osborne Insurance be your beacon of assurance in the realm of insurance.
Beyond the Basics: Discover a world of possibilities
From ensuring your final arrangements are dignified with burial insurance, to safeguarding your loved ones' futures with life insurance, and even protecting yourself from unexpected hospital expenses with hospital indemnity insurance, we've got you covered.
Let Jesse Osborne Insurance guide you through these essential choices, providing peace of mind every step of the way.
Comprehensive Insurance Solutions Tailored to You
Trust Jesse Osborne Insurance for all your insurance needs. Whether it's Medicare, supplemental insurance, or beyond, our dedicated team is here to guide you every step of the way. Contact us today to discover personalized coverage options that fit your lifestyle and budget. Don't wait – secure your peace of mind now!
Wondering When You Can Sign Up?
Contact us today to schedule a consultation and find the insurance solutions that fit your needs. Our team at Jesse Osborne Insurance is here to guide you through the enrollment process and ensure you make informed decisions about your healthcare coverage.
3 months before your 65th birthday
If you're already receiving Social Security benefits, you've likely been or will be auto-enrolled in Medicare Parts A and B on the first day of your 65th birthday month. Keep an eye out for your red, white, and blue Medicare card, which should arrive in the mail three months before your 65th birthday. However, it's essential to note that you might qualify for Medicare before turning 65 if you have Social Security Disability or a qualifying medical condition.
If you're not automatically enrolled, reach out to your local Social Security office or visit the Social Security Administration website to sign up. Don't miss your chance to secure vital healthcare coverage.
Initial Enrollment Period (IEP)
The initial enrollment period (IEP) marks your first opportunity to sign up for Original Medicare. This critical window lasts for 7 months, beginning three months before your 65th birthday and extending three months after. Your IEP isn't just about enrolling in Original Medicare – it's also the perfect time to explore additional coverage options such as Medicare Advantage and Medicare Supplemental Insurance.
Take advantage of this period to ensure you have the comprehensive coverage you need for your healthcare journey. Learn more about other enrollment periods with our comprehensive guide.
Providing Healthcare Coverage in 2 Parts
Discover the Backbone of Medicare: Original Medicare, also known as fee-for-service Medicare, comprises two essential components: Part A and Part B. Part A encompasses coverage for inpatient hospital stays, skilled nursing facility care, hospice care, and some home health care services. Meanwhile, Part B covers crucial aspects such as doctor visits, outpatient care, medical supplies, and select preventive services.
However, it's important to note that Original Medicare doesn't cover everything. Prescription drugs, vision care, and dental care are among the services not covered by this plan.
Wondering if You Need More Coverage?
Navigating Medicare can be complex, but we're here to simplify it for you. While Original Medicare provides comprehensive coverage, it doesn't cover everything. That's where additional coverage options come into play.
Medicare Advantage Plans
Medicare Advantage plans, also referred to as Medicare Part C, streamline your healthcare coverage by bundling all of your Medicare benefits into a single plan. Offered by private insurance companies, these plans provide a convenient and comprehensive alternative to Original Medicare. With Medicare Advantage, you can enjoy enhanced benefits and personalized care, all while simplifying your healthcare experience.
Medicare Supplement Insurance
Medicare Supplement Insurance, also known as Medigap, acts as a safety net to cover expenses not included in Original Medicare, such as coinsurance and deductibles. By filling these gaps, Medigap plans help limit your out-of-pocket costs, providing financial peace of mind during healthcare expenses.
Prescription Drug
Prescription Drug plans, also referred to as Medicare Part D, offer vital coverage for prescription medications included on the plan's formulary. These private insurance plans help alleviate the financial burden of prescription drug expenses, ensuring you have access to the medications you need to maintain your health and well-being.
Annual Enrollment Period: Your Opportunity for Change
The Medicare Annual Enrollment Period (AEP), also known as Medicare's Fall Open Enrollment, takes place from October 15 to December 7 each year.
During this critical period, individuals with Medicare have the opportunity to make changes to their coverage. Common changes include:
- Switching from Original Medicare to a Medicare Advantage plan.
- Joining or changing a Medicare Advantage plan.
- Joining or changing a Medicare Part D prescription drug plan.
- Changes made during the Annual Enrollment Period take effect on January 1 of the following year.
With an array of options available, finding the best Medicare plan for your needs can be daunting. That's where we come in! Our agents are ready to walk you every step of the way, eliminating the need to sift through endless paperwork or decipher confusing jargon.
Open Enrollment Period
The Medicare Advantage Open Enrollment Period occurs annually from January 1 to March 31. During this window, individuals with a Medicare Advantage plan have the opportunity to make a one-time change to their coverage.
This flexibility is invaluable, especially if you were unable to modify your healthcare plans during the Annual Enrollment Period. Additionally, if you find yourself dissatisfied with your new Medicare Advantage plan coverage, this period allows you to make a switch. While you can return to Original Medicare during the Medicare Advantage Open Enrollment Period, it's important to note that this enrollment period is specifically for individuals already enrolled in Medicare Advantage.
Unsure if this enrollment period applies to you? Let us guide you in finding the right Medicare plan tailored to your needs.
For Medicare Advantage: Seize the Opportunity
The Initial Coverage Election Period (ICEP) grants you the chance to enroll in a Medicare Advantage plan. Typically, the ICEP aligns with your Initial Enrollment Period for Medicare if you enrolled in Medicare Part A and Part B when first eligible.
However, if you delay enrolling in Medicare Part B, your ICEP narrows to the three months before your Part B coverage begins. It's crucial to submit your enrollment application within this window to ensure your Medicare Advantage plan aligns with your Part B effective date. This means your Medicare Advantage coverage will commence the same month as your Part B coverage.
Don't miss out on this critical period to secure comprehensive healthcare coverage with Medicare Advantage.
Special Enrollment Periods
Life is full of changes, and when certain events like moving or losing other insurance coverage occur, you may qualify for a Special Enrollment Period (SEP) to enroll in a new plan. Did you know there are over twenty Special Enrollment Periods for Medicare Advantage and Prescription Drug plans? Each SEP comes with its own set of rules and timeframes, dictating when the new plan will begin. Curious if you qualify for a Special Enrollment Period?
Let's uncover the possibilities together. If any of the following statements apply to you, you might be eligible to enroll using a Special Enrollment Period.
We Make it Easy to Choose the Right Plan for You
Whether you're diving into the world of Medicare for the first time or gearing up for another enrollment period, now is the perfect opportunity to explore your healthcare coverage options. Are you already enrolled in Original Medicare? Curious about the benefits of Medicare Advantage? Wondering if Medicare Supplement insurance is the right choice for you? With so many options available, it's natural to have questions.
Fortunately, we're here to help you navigate the complexities of Medicare and find the coverage that best suits your unique needs and preferences. Let's work together to ensure you have the peace of mind that comes with the right Medicare coverage.
Managing Your Healthcare Budget
A significant portion of your budget may be allocated to healthcare services, even with Medicare insurance. Contrary to popular belief, healthcare expenses don't vanish once you qualify for Medicare. To avoid unexpected expenses and billing surprises, it's crucial to understand the ultimate cost of your Medicare plan.
The overall cost can vary significantly depending on the Medicare plan option you choose. When evaluating your needs and budgetary considerations, consider the following factors:
- The medical services you require
- The level of health coverage necessary to meet those needs
- The timing of your enrollment
- Your income level
- Additional benefits you desire
- Prescription drug coverage
- Any supplemental health insurance you currently have
Types of Medicare Costs
Navigating Medicare can feel overwhelming, especially when it comes to understanding the various types of costs associated with each plan. From premiums and deductibles to copayments and coinsurance, it can be challenging to determine your total Medicare coverage expenses.
However, by conducting thorough research and calculating the costs of each component, you can gain a clearer understanding of your overall healthcare expenses with or without a Medicare plan.
Armed with this knowledge, you can ensure that your healthcare costs align with your broader financial plan, providing you with greater peace of mind and financial security.
Coverage: Tailoring Your Healthcare Protection
When selecting a Medicare plan, one of the most critical factors to consider is coverage. Different plans offer varying levels of coverage for medical services, prescription drugs, and additional benefits. It's essential to assess your healthcare needs and preferences to determine the level of coverage that best suits you.
Consider factors such as your current health condition, anticipated medical expenses, and any specific healthcare services or treatments you may require.
By carefully evaluating your coverage options, you can ensure that your Medicare plan provides comprehensive protection for your health and well-being.
Navigating Prescription Drug Coverage in Medicare
Prescription drug coverage is a cornerstone of Medicare, with a majority of beneficiaries covered by Part D plans. Here's a breakdown of how it works:
Annual Deductible: Plans typically include an annual deductible, ranging from $0 to hundreds of dollars.
Initial Coverage: In the initial coverage stage, copays apply based on drug tiers until reaching the initial coverage cap.
The Coverage Gap: During the coverage gap phase, generics have discounts, but name brands cost 25%, and generics 37%, until reaching the total-out-of-pocket (TrOOP) limit set annually by CMS.
Comprehensive Insurance Solutions Tailored to You
Trust Jesse Osborne Insurance for all your insurance needs. Whether it's Medicare, supplemental insurance, or beyond, our dedicated team is here to guide you every step of the way. Contact us today to discover personalized coverage options that fit your lifestyle and budget. Don't wait – secure your peace of mind now!
Understanding Final Expense Insurance
Final Expense insurance, also known as burial insurance or graded life insurance, is a basic issue life insurance policy designed to cover individuals until they reach 100 years old.
Similar to universal life insurance, final expense coverage offers easy issue permanent coverage. It serves as an affordable insurance option, specifically intended to cover funeral and burial costs for the policyholder.
Many individuals opt for burial insurance to alleviate the financial burden on their families and ensure a dignified farewell. While burial premiums may initially be higher due to cash value features, they offer the advantage of fixed premiums, which remain the same regardless of changes in health status.
Final Expense coverage can encompass various funeral expenses, including the casket, funeral service, hearse, cemetery plot, headstone, and more. Contact us today to explore the right final expense coverage tailored to your needs.
Term Life Insurance
Term life insurance, also known as term assurance, provides coverage at a fixed rate of payments for a limited period, known as the term. Once this period expires, coverage at the previous rate is not guaranteed, and the client must decide whether to forgo coverage or seek additional coverage under different terms.
In the event of the life insured's death during the term, the death benefit is paid to the beneficiary. Term insurance offers a cost-effective means of obtaining a substantial death benefit relative to the premium amount over a specific period.
Whole Life Insurance:
A Lifelong Coverage Solution
Whole life insurance, also known as whole of life assurance, provides coverage for the insured's entire lifetime. This type of policy typically requires premiums to be paid annually to keep the coverage in force.
Hospital Indemnity Insurance Covers Hospitalization Costs
Hospital Indemnity insurance, also known as Hospitalization insurance or Hospital insurance, offers benefits when you're hospitalized for planned or unplanned reasons or receive other medical services, depending on the policy.
These plans are tailored to fill gaps in Medicare Advantage coverage by providing cash benefits to assist with copays, coinsurance, deductibles, pharmacy prescriptions, and other non-covered expenses related to hospital stays and services.
Frequently Asked Questions
Medicare used to coincide with receiving 100% of Social Security benefits at age 65. Now, to collect 100% of your entitled benefits, you'll need to be older than 65. If you opt to receive Social Security before or on your 65th birthday, Medicare is automatic. However, if you wait past 65 to collect Social Security, you'll need to enroll yourself.
Your Initial Enrollment Period (IEP) begins three months before your 65th birthday (or the 1st month you have Medicare Parts A and B) and extends three months after. During this time, you can sign up for Medicare Advantage Plans (Part C) and Prescription Drug Plans (Part D).
Wanting to make changes to your Medicare Advantage or Prescription Drug Plan?
Each year, you can enroll in a new plan during the Annual Election Period (AEP), running from October 15th to December 7th. This is an opportunity to reassess your needs, coverage, and plan options, made easy with Jesse Osborne Insurance.
Are Special Enrollment Periods (SEPs) available?
Yes, if you experience qualifying life events like moving or losing current insurance, you can enroll outside of the IEP or AEP.
Yes, most individuals will pay for Medicare Part B, with the base premium for 2022 set at $170.10, potentially higher based on income.
Medicare consists of four main parts: Part A covers hospitalization, Part B covers medical services, Part C offers Medicare Advantage Plans, and Part D provides prescription drug coverage.
Original Medicare can leave you with significant out-of-pocket costs and does not cover prescription drugs or have a maximum out-of-pocket limit.
Medicare Advantage plans may have premiums and fees, but many carriers offer zero premium plans with comparable or better benefits.
A Medicare agent is an independent representative who works with multiple carriers to offer unbiased guidance on Medicare plan options. They are appointed by various insurance companies, enabling them to search for the plan that best suits your individual needs and budget, without being restricted to a single carrier. Your Medicare agent can review all available options and help you find a plan that aligns closely with your requirements.
No, neither Medicare nor Medicare Advantage plans cover long-term care.
In general, Medicare does not cover routine dental care unless deemed medically necessary, such as for oral cancer or infection.
With any Questions
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