medicare & macra...powerpoint presentation author shaun created date 4/27/2017 8:11:32 pm
TRANSCRIPT
Medicare & MACRA WHAT YOU NEED TO KNOW ABOUT THEIR EFFECT ON FINANCIAL PLANNING
P R ES E N T ED BY E L I ZA B E T H G AV I N O, LU TC F & TAT YA N A G AV I N O, ES Q .
Why Should I Care About Medicare & MACRA?
Increases my credibility with
clients
Affects my clients’ current financial plans
Opens up planning
opportunities
Protects my book of business
Real Life Case Studies
Why Listen to Us? Independent Brokers
Over 20+ Years Experience in Industry
Master General Agent/General Agent for Senior Risk Planning Carriers
Who is Eligible for Medicare
When Can Someone Enroll?
Coverage Options
What do Parts A & B Cover?
Applying for Medicare – Step 1
Medicare Part B: Income Related Monthly Adjustment Amount (IRMAA)
Medicare Part D: Income Related Monthly Adjustment Amount (IRMAA)
Applying for Medicare – Step 2
What if Client Works Past Age 65?
Important items to consider
Coordination of Benefits
Special Election Periods: Enrollment After 65 When retiring, you may be eligible for a Special Enrollment Period (SEP). Your SEP may allow you to:
Enroll in Original Medicare (Parts A and B) for up to eight months after the month your employment or employer health insurance ends, whichever happens first
Enroll in a Medicare Advantage (Part C) or prescription drug (Part D) plan up to two full months after the month your employment or employer health insurance ends, whichever happens first
Medicare Access & CHIP
Reauthorization Act (MACRA) of
2015
MACRA: Medicare ID Cards How is the Medicare ID card changing?
When will the change occur?
MACRA’s Effect on IRMAA
MACRA: Observation
MACRA: Recovery Care
What happens when I need coverage?
MACRA’s Effects on Medicare Supplements
Medicare Supplement Offerings - Post 2020
Medigap Plans High Deductible Medigap Benefits Medigap Plans (After June 1st, 2010)
F F+ G G+
Medicare Part A Coinsurance hospital costs up to an additional 365 days after Medicare benefits are used up
X X X X
Medicare Part B Coinsurance or Copayment X X X X
Blood (First 3 Pints) X X X X
Part A Hospice Care Coinsurance or Copayment X X X X
Skilled Nursing Facility Care Coinsurance X X X X
Medicare Part A Deductible X X X X
Medicare Part B Deductible X X X*
Medicare Part B Excess Charges X X X X
Foreign Travel Emergency (Up to Plan Limits) X X X X
*Part B Deductible will count towards the Out-of-Pocket limit. *HDG will not provide coverage for any portion of the Medicare Part B Deductible
Out-of-Pocket Limits*
Out-of-Pocket Limits*
$2,200 TBD
Which One Should the Client Choose?
Case Study No. 1 – The
Physician Couple
Husband, age 70
Wife, age 68
Case Study No. 2 – The
Financial Planner
Successful Financial Planner and wife turning 65.
Case Study No. 3 – The
Retired Couple
Wife retiring with retiree benefits
Husband suffered from stroke and turning 65
Case Study No. 4 – The
Hybrid
Wife is a breast cancer survivor
Husband rarely sees doctor
Case Study No. 5 –
Investment Company Executive
Husband Turning 65 and has a retiree benefit through employer
Wife turning 65 at same time
Any Questions?
Next Steps
Call Us
201-659-7170 for insurance solutions
Set up
Appointments with clients
Thank You for Attending!