Senior Financial Group

www.sfgmedicare.com

Demystifying Medicare

What Will We Coveru Who is Senior Financial Group & About Me

u History of Medicare

u Eligibility for Medicare

u When/How to Enroll in Medicare

u Medicare Part A, B, C, D

u Medicare Advantage vs Medicare Supplement

u How we can help you, your family and friends

u Q&A

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Who is Senior Financial Group?

u Founded in 1983

u 2000 Licensed Life & Health Insurance Agents in 46 states

u Represent over 35 of the most reputable Companies

u Offer Medicare plans, Life Insurance, Dental, Marketplace, LTC, & more

u Educate & Guide Clients for FREE

u Enroll in Government Programs

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Heather Majka, CPCU, CSSCS

u 25 Years of Insurance Experience

u With Senior Financial Group for 10 years

u Oversight of Agents, Training, Compliance, Education, and Customer Service

u Certified Social Security Claiming Strategist

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LBJ enrolled President Truman

as the first Medicare

Beneficiary

LBJ signed Medicare into law July 30, 1965

History of Medicare

ü The average person retiring was male.

ü The average life expectancy was 68 years!

ü Medicare Part B cost just 3 dollars per month.

ü 19 Million People signed up the first year

ü Insurance options started in 1976ü Part D began in 2006ü Evolution of Program continues…

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u Average Life Expectancy now: 78 years

u Average Life Expectancy in 2020: 89 years

u Over 55 Million Enrolled in Medicare as of 2015

u 17% are under 65

Then & Now

How Do I Qualify?

u Age 65 + U.S. citizen/legal resident + 10 years working in Medicare covered employment

u Under Age 65 and deemed disabled by Social Security for at least 24 months

u ESRD or ALS (any age)

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How Do I Enroll?u Auto Enrolled (part A & part B) if collecting Social

Security

u Visit www.ssa.gov or call 1-800-772-1213 or go to local office (we can help)

u If you or your spouse work and have health insurance you may be able to delay part B

u If you don’t enroll timely – enrollment restrictions & penalties may apply

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When Can I Enroll?

u When you turn 65 (7 month window)

u When you retire if after 65 and loosing creditable coverage

u Similar timeframes for part C & part D in addition to Annual Enrollment Window 10/15 – 12/7

u Coverage CANNOT be back dated

u List not all inclusive, work with an expert

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What does Part A cover?

v Inpatient Hospital

v Home Health Care

v Skilled Nursingv Hospice

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2017 Medicare Part A Costs Per Benefit Period

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Benefit Period

Home and out of the hospital (or skilled

nursing) for 60 consecutive days without

receiving care

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2017 Medicare Part A Costs Per Benefit Period

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Understanding Part B CostsMust Pay a Monthly Premium

Medicare Part A is Free if you worked enough but Part B has a monthly premium and it changes

annually

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Medicare Part B• Monthly Premium• Yearly Deductible• 20% Co-Insurance

Part B Covers:ü Doctor visitsü Diagnostic Testsü Some preventive servicesü Ambulance & Emergency Roomü Durable Medical Equipmentü Physical Therapyü Mental Healthü Medical Supplies

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Video

How does Medicare Work

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VideoMedigap

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Some Key Differences

Health Questions Required? YES NO

Regulated by State? YES NO

County Residency Requirements? NO YES

Enrollment Periods? NO YES

Includes Prescription Drug Coverage? NO YES

VideoMedicare

Advantage

Medicare Part D

u All Plans have tiers/formulary & coverage rules

u All Plans based on Calendar Year

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Things To Consider

v Who can you trust?

v Where do you want to get care now & in the future?

v What medications do you take?

v What will you total medical costs be (including premiums, co-pays, etc.)?

v Do you travel much?

v Are you will to re-evaluate your decision every year?

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We Can Help

Agents Licensed in 46 States

1-800-677-0153865-777-0153

www.sfgmedicare.com

What type of Help do we Provide?

u Questions for HR & Benefits Administrators

u Determining Creditable Coverage

u Analysis of coverage continuation, comparison and coordination

u Social Security Planning

u Community Resource Referrals

u Patient Assistance Programs & Foundations

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Medicare.govTricare.milVa.gov

SHIP1-877-801-0044ssa.gov

SS1-800-772-1213Healthcare.gov

u VISIT US ON THE WEB AT SFGMEDICARE.COM

u Like us on Facebook at www.facebook.com/sfgmedicare

u Follow us on Twitter at www.twitter.com/sfgmedicare

u Subscribe to our YouTube channel

u Tell friends & family about us

Stay up to date & thank us

A few of our clients…

Q & A