Jim Murry Insurance

In 1965, the passage of the Social Security Amendments, popularly known as Medicare and Medicaid, resulted in one basic program of health insurance for persons aged 65 and older, and another program providing health insurance for people with limited income funded by state and federal sources, respectively.

Starting to get bombarded with Medicare information in your mailbox? It can be overwhelming! Contact us today to review your situation.

We believe that the better educated you are about Medicare, the easier it will be for you to make the right decisions about your Medicare health insurance choices.

Quick Tip: If you forget your Medicare card, you, your doctor or other health care provider may be able to look up your Medicare Number online.

Reminder: Only give your Medicare Number to doctors, pharmacists, other health care providers, your insurers, or people you trust to work with Medicare on your behalf.

Planning your Medicare enrollment ahead of time will help you have a smooth transition. Most people become eligible for Medicare around age 65, so do your best to research before then.

Is it mandatory to go on Medicare when you turn 65?
No, but there are significant penalties for late enrollment unless you have other creditable medical coverage, such as from a large employer.

Confused About Medicare? It is not unusual for a client to bring in a whole bag of mail that he has received at home and ask for our help to identify which things should be kept or tossed out.

Medicare Advantage plans work differently from Medigap plans, so make sure you understand all the differences between the two before signing up for an Advantage plan.

Medicare Part C Advantage plans have different networks, premiums, and cost-sharing. Working with an insurance agent that specializes in these plans is a great way to ensure that you consider all the variables before choosing your insurance company.

What is Medigap Attained-Age Rating?
Attained-Age Rating is a rating class in which a Medigap insurance company determines the rate based on your current age (the age you’ve “attained”). Your premiums tend to go up as you get older.

What does Dual-Eligible mean?
To be dual-eligible means to be eligible for both Medicare and Medicaid.

A Medicare Summary Notice (MSN) is a quarterly explanation of benefits statement that Medicare provides to show you the healthcare services received and what Medicare paid toward them. You should review your MSN to determine if you owe any balances that are due.

Also known as Medicare Advantage, the Part C program is a form of managed care that allows Medicare beneficiaries to get their Parts A and B benefits through a private insurance plan and its network of providers. Many Part C plans offer a built-in Part D drug plan.

Part A (Hospital Insurance): Helps cover inpatient care in hospitals, skilled nursing facility care, hospice care, and home health care.

Medicare Part A is hospital insurance that assists you with the cost of inpatient care and skilled nursing facility stays. It also helps with things like hospice and home health care. In general, you should think of the inpatient hospital benefit as Medicare coverage for room and board in the hospital.

Are you starting to get a lot of phone calls and things in your mail about Medicare Insurance Plans? Contact us today for a no cost consultation. We can educate you on your options.

When you enroll in an Advantage plan (Medicare Part C), you agree to receive your Medicare benefits through that private plan instead of through Original Medicare.

Quick Tip: Plan C covers all the gaps in your Medicare coverage, except Medicare Part B excess charges.

Many people confuse their Medicare Eligibility date with their Social Security retirement age. They are different. A person can apply for full retirement income benefits at around age 67. This is considered their retirement age. However, this does not affect the age at which they qualify for Medicare.

An excess charge is if you have Original Medicare, and the amount a doctor or other health care provider is legally to charge is higher than the Medicare-approved amount, the difference is called the excess charge.

A Medicare approved amount is in Original Medicare, this is the amount a doctor or supplier that accepts assignment can be paid. It may be less than the actual amount a doctor or supplier charges. Medicare pays part of this amount and you’re responsible for the difference.

Turning 65 soon? Starting to feel overwhelmed by your Medicare choices? Contact us today to request a no obligation consultation.

Medicare Supplement plans cover 10 million Medicare beneficiaries. Also referred to as Medigap plans, these policies help pay for your share of Medicare expenses, such as your deductibles and co-insurance.

Fast Fact: You must be enrolled in Medicare Part A and B to purchase a Medicare Supplement Insurance plan.

The deductible is the amount you must pay for health care or prescriptions before Original Medicare, your Medicare Advantage Plan, your Medicare drug plan, or your other insurance begins to pay.

Fast Fact: Whether you qualify for Medicaid coverage depends partly on whether your state has expanded its program. Medicaid benefits, and program names, vary somewhat between states.

The Medicare program has four different parts: Part A, B, C, and D. Part C, D, and Medigap plans are sold through private insurance carriers, not the federal government.

Turning 65 soon? Confused about Medicare? Let us educate you on your options. Request a no cost consultation today!

In July of 1965, President Lyndon B. Johnson signed a Medicare bill into law so that people 65 and older could get the healthcare coverage they needed from a national program. Initially, the only coverage options were Part A and Part B.