Kevin Hyatt Medicare Plan Assitance

11/06/2024

12/06/2022

36 hours left till AEP ends. C'mon in to The Avon Walmart for a quick check of the 2023 Medicare plans.

12/02/2022

Let’s talk Medicare Advantage and/or Medicare Supplement plans. 1-5 pm at my Walmart kiosk until December 7th.

12/02/2022

Come see me at the Avon Walmart and talk Medicare plans . Here 1-5 daily thru December 7th.

10/23/2022

Come by my Avon Walmart kiosk and say hello and get educated on the 2023 Medicare changes.

10/17/2022

Can you contribute to a health savings account (HSA) when you’re on Medicare?

You can not contribute to an HSA when you are on Medicare. You can only contribute to an HSA when you have a high-deductible health plan (HDHP) and are under 65. Once you turn 65 or are on Medicare, you cannot continue contributing to the HSA.

You are the owner of your HSA, not your employer, and you can contribute until you turn 65. You can use the HSA funds for qualified medical expenses, regardless of whether or not you are currently enrolled in Medicare.

Once you turn 65, you have more flexibility in spending the HSA funds. However, you may not continue to contribute to the HSA.

Call Kevin Hyatt Medicare Agent - your local Medicare Expert about what Medicare covers or how enrolling in a Medicare Advantage or Medicare Supplement plan can improve your coverage and reduce your out-of-pocket costs.
Posted 3 days ago

What are Medicare Penalties for Late Enrollment?

Medicare late enrollment penalties can increase your monthly premium substantially for the rest of your life. The government can penalize you each month that you maintain your Medicare coverage.

It's essential to understand your options and how these late enrollment penalties work to avoid costly premiums in retirement. There are certain times you can enroll in Medicare, and the first enrollment period is a seven-month window around your 65th birthday, and this window is three months before and after you turn 65. The good news is if you're receiving Social Security benefits, you will be enrolled in Medicare when you turn 65 automatically. You may be subject to a 10% penalty for each 12-month period you delayed enrollment that you don't enroll in Part B during the initial open enrollment period. You generally cannot remove it once you have a Part B penalty. And for most, this means the rest of their life.

There is good news, though - you may put off enrollment in Medicare Part B and avoid a penalty if you have "creditable coverage."

Kevin Hyatt Medicare Agent - your local Medicare expert can help you understand the many parts of Medicare and determine the right fit for you. Give us a call to discuss the options available to you.

05/05/2022

What is a Medicare PFFS plan?

Medicare Advantage Private Fee For Service (PFFS) plans are a type of Medicare Advantage Plan that is generally only available in rural areas where there are not many plan options available. PFFS plans do not require you to choose a primary care physician (P*P) or need a referral to see a specialist like HMO plans do. Not all PFFS plans have a physician and hospital network; you must receive care within. Some PFFS plans allow you to go to any Medicare doctor, healthcare provider, or hospital, as long as they accept the plan’s payment terms and agrees to treat you. One additional unique aspect of PFFS plans is that doctors can accept a PFFS plan's payment terms for one treatment and not another. It is very important if you are enrolled in a PFFS plan to ask if your doctor or other health care provider will accept your PFFS plans payment terms for every treatment you receive.

Kevin Hyatt Medicare Agent - your local Medicare Expert - can help you understand the many parts of Medicare and determine what the right fit is for you. Give us a call to discuss the options available to you.

05/05/2022

On December 8, 2003, the President signed the Medicare Prescription Drug, Improvement, and Modernization Act (MMA) of 2003, which became effective on January 1, 2006. Two significant changes occurred with this legislation; a prescription drug benefit was made available for seniors and people with disabilities who are covered by Medicare. The managed care program, formerly known as Medicare + Choice, was redesigned and renamed Medicare Advantage.

The MMA amended section 1144 of the Social Security Act to require the Social Security Administration (SSA) to conduct additional outreach efforts to identify individuals entitled to Medicare benefits which may be eligible for transitional assistance under the Medicare Prescription Drug Discount Card Program and premium and cost-sharing subsidies under the Prescription Drug Card Part D Program. SSA continues to identify and reach out to Medicare beneficiaries to help pay Medicare cost-sharing if available under the Medicaid program.

Kevin Hyatt Medicare Agent - your local Medicare Expert - can help you understand the many parts of Medicare and determine what the right fit is for you. Give us a call to discuss the options available to you.

04/23/2022

If I have Medigap and decide I can't afford it anymore do I have options?

One of the challenges for those who have Medigap plans is what to do if the premiums go up, and they can no longer afford the policy. One option is to switch to another less expensive Medigap plan. However, in most cases, to do that, you will have to undergo medical underwriting and which could increase your rates, or the insurance company could decline your application altogether. A popular option for those moving from a Medigap plan that is too expensive is to enroll in a Medicare Advantage plan. Most Medicare Advantage plans have a physician and hospital networks you must stay within. This is the most significant difference between Medigap and Medicare Advantage plans. If your doctor is in-network, though, you should not have any issues, and you will likely get additional benefits on top of those provided by original Medicare and your Medigap plan at a lower cost.

Call Kevin Hyatt Medicare Agent - your local Medicare Expert about what Medicare covers or how enrolling in a Medicare Advantage or Medicare Supplement plan can improve your coverage and reduce your out-of-pocket costs.
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04/23/2022

What happens if my doctor no longer accepts Medicare payments?

While most doctors accept Medicare, some do not. If you turn 65 and your physician does not accept Medicare, you will have some decisions to make. Choosing to stay with a doctor that does not accept Medicare can result in high out-of-pocket costs for you. There is a difference between a doctor who does not accept Medicare assignments and one who completely opts out of Medicare. If they do not accept Medicare assignment, you may be responsible for an excess charge of up to 15% of a service's cost. If your doctor opts out of Medicare, you will likely have to pay for 100% of their services out-of-pocket and at commercial rates, which can be significantly higher than Medicare. Unfortunately, if you don't want to pay those additional out-of-pocket costs, you will have to switch to a doctor that does accept Medicare. If this is the case, talk to your doctor, and ask them to recommend a local doctor who does accept Medicare. If your doctor does not accept Medicare, they have probably already prepared for this situation and likely have a Medicare doctor they refer patients to.

Call Kevin Hyatt Medicare Agent - your local Medicare Expert about what Medicare covers or how enrolling in a Medicare Advantage or Medicare Supplement plan can improve your coverage and reduce your out-of-pocket costs.