insurance learning center

A better LIFE begins with a SMART choice

LifeSmart Insurance Learning Center

Understand Medicare, how it works, and the choices available to you.

For ALL your Medicare and life insurance questions...

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(This section of the Insurance Learning Center contains useful Medicare and You videos – at the bottom of the page there is a link to more videos.)

Understanding your Medicare choices

You can choose how you get Medicare coverage;

  • Original Medicare
  • Medicare Advantage and prescription drug plans
  • Medicare Supplement Insurance Policies (Medigap)

The first thing you need to consider is whether you want coverage through Original Medicare or a Medicare Advantage Plan (like an HMO or PPO).

The Different Parts of Medicare

Who is eligible for Medicare?

  • People age 65 or older
  • People with certain disabilities
  • People who have End-Stage Renal Disease (ESRD)

The four parts of Medicare are Parts A, B, C and D.
With Medicare you get to choose how you want your coverage.

Understanding Medicare Enrollment Periods

  • Some people get Medicare automatically and do not have to sign up for it
  • If you are automatically enrolled you will get your card 3 months before you turn 65
  • If you do not get Medicare automatically, there are certain times of the year you can sign-up…(follow the video for details)

 

Information About Prescription Drugs – Part D

  • This coverage is offered at an additional charge
  • If you don’t join a Part D plan when you are first eligible for Medicare and you do not have creditable drug coverage, you may have to pay a late enrollment penalty if you join later
  • Watch the video for an explanation of “creditable prescription drug coverage”

Medicare Appeals

  • If you have an issue with an amount from your Medicare statement, you may be able to file an appeal
  • An appeal is the action you can take if you disagree with the payments or coverage decisions made by Medicare
  • No matter how you get your Medicare coverage, you always have the right to appeal
  • Watch the video for more detail…