Help Your Clients Understand the Medicare Products That Are Available to Them
With more and more people turning 65 every day, the percentage of the population that is Medicare-eligible continues to grow steadily. As an agent with MCC Brokerage, you’ll have the opportunity to educate your clients about the basics of Medicare while also offering additional Medicare products such as:
Medicare Advantage – also sometimes called Medicare Part C – is a type of Medicare health plan offered by a private company that contracts with Medicare to provide beneficiaries with all of their Original Medicare (Parts A and B) benefits. When a client joins a Medicare Advantage plan, they still have Medicare, but these services are paid for through the Medicare Advantage plan, rather than through the Original Medicare plan. Medicare Advantage Plans include:
- Health Maintenance Organizations (HMO)
- Preferred Provider Organizations (PPO)
- Medical Savings Accounts (MSA)
- Private Fee-For-Service plans (PFFS)
- Special Needs Plans (SNP)
A Medicare Supplement Insurance policy – often referred to as a “Medigap plan” – is an insurance policy sold by a private company and can help beneficiaries pay some of the health care costs that Original Medicare doesn’t cover, such as copayments, coinsurance, and deductibles. Some Medigap plans also provide coverage for certain services that Original Medicare doesn’t cover, such as medical care when traveling outside the United States. If a client has Original Medicare and then also buys a Medigap plan, Original Medicare will pay its portion of the Medicare-approved amount for covered healthcare costs, and then the Medicare Supplement plan will fill in the “gaps” in coverage.
Medicare Part D
Prior to 2006, many Medicare beneficiaries struggled to cover the high cost of retail prescription drugs that their Original Medicare plans did not cover. The federal government created Medicare Part D – a standalone drug plan that can either be combined with Original Medicare (Parts A and B) benefits or built into a Medicare Advantage (Part C) plan.
To begin contracting with MCC Brokerage, contact us today. Or, to learn more about the Medicare products that we offer, consider signing up for our Medicare Products training course through MCC Academy™.