Why Trust BGA With Your Medicare Decisions?
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Agents from BGA Insurance Group will sit down with you in your home, our office or even a local coffee shop to give you a brief education on the healthcare system. We will explain what the different options are to protect yourself and make the proper recommendations for your plan.
“70% of people turning age 65 can expect to use some form of long-term-care” (US Dept of Health and Human Services). Let BGA help you create a plan to deal with how and where to receive this care. Do you want to recover in your home or a nursing home? Is long-term-care insurance the answer? Is it affordable? We have the answers.
Is your life insurance keeping up with your life? BGA will review your current plan or help you create one. Have you planned for final expenses? Are you still paying premiums on old policies? Do you need insurance but are afraid you may not qualify? We can help!
Retirement in America is changing. Pensions are disappearing, Healthcare costs are high, the markets are up and down, and we are living longer which means more years of retirement. Whether you are still working or already in retirement, meet with a BGA Agent to learn how to secure your financial future.
A Medicare Supplement Plan Should Be Easy To Find
When turning the age of 65 or retiring there is a good chance you will be enrolling into the Medicare program Parts A & B. You will also be given the choice to enroll in the Part D prescription drug program for Medicare. If you choose not to enroll in the Medicare drug coverage when you’re first eligible, you will probably be on the hook for a late enrollment penalty.
Late Medicare Enrollment Can Result in a Penalty
The penalty is 1% for every month you chose not to enroll. For example, if you decide to enroll in a Part D plan five-years after you are first eligible, you will receive 60% late enrollment penalty for life.
There are a couple of ways you will not be charged a penalty. The number one way is if you have other creditable prescription drug coverage that is equal to Medicare’s coverage, for instance an employer plan. The other way is if you are receiving extra help because of your financial standing.
You Might Qualify for Additional Coverage – Medicare Prescription Plan
If you meet certain income and resource limits, you may qualify for Extra Help from Medicare to pay the costs of Medicare prescription drug coverage. You will automatically qualify for Extra Help if you have Medicare and qualify for full Medicaid benefits. You may also qualify if the state is paying your Part B premiums.
To get Medicare drug coverage, you need to join a plan administered by an insurance company or approved by Medicare. Each plan is different and can vary in cost and drugs covered, for example, the deductible or the cost sharing you pay. Another example is the premium each plan charges monthly to have the coverage.
A huge choice in joining a plan are the differences relating to the formularies on each plan. Some plans depending on the types and names of the prescriptions charge more while others cost considerably less. You could also pay more, or less on the monthly premium depending on which zip code you live in. All in all, each zip code gives you are large variety of plans to choose from, and each plan must adhere to Medicare’s rules and outline of coverage.
Whether you need a Medicare Advisor or independent Medicare agent near you, call BGA Insurance Group!
A Rewarding Career Awaits You
If you are looking for a career that brings you both financial success and personal satisfaction by helping clients secure their future, then you may be a good fit as an Agent for BGA. We offer training for both licensed agents and individuals interested in becoming licensed. BGA Agents receive the highest levels of training, a strong compensation structure, marketing tools, and continuous support throughout your career. If you are ready to embark on a CAREER and not just another JOB please visit our Career Application Page.