Medicare 101

Original Medicare, known as Part A and Part B, is the federal health insurance program that pays for a variety of health care expenses for those eligible.  In general, Part A is hospital insurance and covers inpatient hospitalization, skilled nursing care, hospice, and home health care.  Part B is the medical insurance portion and covers services such as doctor visits, outpatient care, and preventive services.  Part D is the prescription drug benefit of Medicare which helps cover the cost of your medication.

Contact Colton Rector for more information and see how we can be of service to you

  • In 1965 at the Harry S. Truman Presidential Library in Independence Missouri, President Lyndon B. Johnson signed into law the bill that led to Original Medicare (Part A and B) and Medicaid

  • In 1966 Medicare was implemented. President Truman and his wife were the first recipients and more than 19 million individuals enrolled by July 1st

  • In 2003 the Medicare Modernization act created a prescription drug benefit (Part D)

  • In 2006 Part D became available and 39 million beneficiaries enrolled

  • As of 2018 Medicare serves more than 59 million individuals

Original Medicare Part A & B covers:

Original Medicare Enrollment Periods

There are several times you are able to enroll into Part A and/or B

  • (IEP) Initial Enrollment Period- a 7 month period starting 3 months before the month of your 65th Birthday, the month of your 65th Birthday, and 3 months after the month of your 65th Birthday.

  • (GEP) General Enrollment Period- If you miss your Initial Enrollment Period, you can sign up between January 1 and March 31 each year. Your coverage will begin July 1.

  • (SEP) Special Enrollment Period- After your Initial Enrollment Period, if you're covered under a group health plan based on current employment, you have a SEP to sign up for Part A and/or Part B anytime as long as you or your spouse (or family member if you're disabled) is working. You also have an 8-month SEP for A and/or B that starts the month after the employment ends or the month after group health plan ends (whichever happens first

Two Main Ways to Obtain or Enhance your Coverage

OPTION 1

Add one or both of the following to Original Medicare:

-----OR-----

OPTION 2

Choose a Medicare Advantage Plan:

OPTION 1

Add a Medicare Supplement Insurance (Medigap) policy and/or a Part D plan to Original Medicare. Offered by private insurance companies, a Medicare Supplement policy like a Plan F or G helps pay some of the health care costs that Original Medicare doesn't cover like copays, coinsurance, and deductibles.

OPTION 2

A Medicare Advantage Plan (Part C). This plan is offered by private insurance companies and combines your Part A, B, and D coverage into one plan and provides additional benefits.

Medicare can be confusing and evaluating all of your options is stressful and time consuming. The licensed insurance consultants at Denny & Associates, Inc. provide a free service to help make sense of Medicare and assist in finding a plan that best suits your needs.

We provide free, unbiased, expert assistance in navigating the confusing world of Medicare

  • Assistance in choosing a plan that best fits your needs

  • Working in all areas of Medicare including

    • Supplements

    • Part D

    • Part C/Advantage Plans

  • Contracted with the major insurance companies in the area

  • We are an independent agency that works for YOU… NOT the insurance company

  • Our top priority is your satisfaction

CONTACT US

Denny & Associates, Inc.
1022 Peruque Crossing Ct.
Ste. B
O'Fallon, MO 63366
Hours: Mon-Fri / 8:30-5:00pm

636-887-4700
866-858-0920 / toll free

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