Regardless of age, one day, you will face the decision about Medicare. There is much to it and during my career, I have chosen to refer to specialists in the field. Curtis Benz is my go-to for all things Medicare. If you have lived in the Nashville area a while, you have most likely heard the Benz name. That family has more than 150 years of experience in the insurance business. Curtis contributes his 30 years to that total.

I have asked Curtis to give us an article about Medicare as my special guest author this week. Since we are approaching an important time of the year for Medicare enrollment, I thought it would be good to have him share some key pieces of the puzzle that might help us all have a better understanding about this complex insurance issue.

While most Americans know they are eligible for Medicare upon turning 65, some may be unaware that Medicare alone is not sufficient to cover health care costs.

To close the gap in Medicare coverage, a person can choose from two paths:

1. Original Medicare paired with a Medicare supplement policy.

These supplemental policies premiums are based on your age. Under this coverage, you are allowed to see any doctor or hospital that accepts Medicare. Also, you would purchase a separate Part D Prescription Drug Plan. Your out-of-pocket medical expenses would be the Part B deductible of $183 per year and your copayments for prescriptions.

2. Medicare Advantage Plan.

This plan usually includes Part D prescription drug coverage. Although most plans are low cost or have zero-dollar premiums, they often include strict requirements, like doctor referrals and prior authorizations for tests and procedures. With a Medicare Advantage Plan, you are required to go to a network of providers. If your doctor is not in the network, these plans may not pay, and providers may leave the network when their contracts are up. Medicare Advantage Plans have copays or coinsurance for most expenses, and there is a potential for high out-of-pocket expenses.

The annual open enrollment period is October 15-December 7. During open enrollment, those on Medicare Advantage Plans may:

• Choose a different Medicare Advantage Plan
• Change from a Medicare Advantage Plan to Original Medicare and purchase a supplemental plan and a Part D Prescription Drug Plan.

Also, during open enrollment those who have a Part D Prescription Drug Plan may change their drug plan.

Many of the major Medicare supplement companies have lowered their premiums within the last year, so if you have a Medicare supplement, it may be wise to compare plans.

If you are about to turn 65 or need help solving the Medicare puzzle, contact me at 615.496.1978 or email me at curtis@thebenzgroup.com. We can discuss your options and determine the best path for you.

Thanks, Curtis for this insight!

He’s given his contact information above and I certainly support you reaching out to him if you have any questions. He’s ready to help as we are with any insurance needs. EMAIL us at info@BentonWhite.com or call or text any of us at 615.377.1212. We’re here to EARN your business!