Medicare and Cancer

All of us know someone who has been touched by Medicare and Cancer. It’s my opinion that the best course of action in the event that this starts to become a reality is to have a plan in place that will give you the most options while at the same time minimizing costs. This will hopefully reduce the need to think about your Health Insurance and allow you to concentrate more on treatment. The 2 types of Medicare Health Insurance plans available are Medicare Advantage and Medicare Supplement Plans. Both help pay your Medicare cost share . Let’s take a quick look.
Medicare Advantage–
The monthly cost to these is as low as $00.00. The copays, however, for hospital stays and MRI blood work can become quite expensive. Chemo and any other injectable medication done in a doctor’s office or facility are not covered by the plan, and you will have to pay Medicare Part B 20%. You will more than likely reach your Maximum Out Of Pocket figure (As high as $7400) in a short period of time, but your cost share will be reduced to $00.00. Also, these plans are HMOs and PPO which means some doctors/hospitals might be out of network and unavailable or at a higher copay.
Medicare Supplement–
There are monthly costs to these and the individual has to weigh the benefits against the extra cost.
Benefits–
No doctor/hospital network. Care can be had with any doctor/hospital that accepts Medicare in any state.
Copays are reduced to very low or $00.00
Speak to your Medicare Advisor for a more detailed analysis for your individual needs.

Frequently Asked Questions

Choosing the Right Medicare Coverage

Selecting the best Medicare coverage depends on factors like your healthcare needs, budget, and preferred providers. You can choose between:

Original Medicare (Parts A & B): Allows you to see any doctor or
hospital that accepts Medicare but does not include prescription drug
coverage (Part D) or additional benefits.
Medicare Advantage (Part C): Offers bundled coverage with
potential extra benefits but may require using a network of providers.
Medigap (Medicare Supplement Insurance): Helps cover
out-of-pocket costs not covered by Original Medicare, such as
copayments and deductibles.

Key Medicare Enrollment Periods

It is crucial to enroll in Medicare at the right time to avoid penalties and ensure continuous coverage:

Initial Enrollment Period (IEP): A seven-month window starting
three months before your 65th birthday month.
General Enrollment Period (GEP): From January 1 to March 31
each year for those who missed their IEP.
Annual Election Period (AEP): From October 15 to December 7,
allowing you to switch or enroll in Medicare Advantage and Part D
plans.
Open Enrollment Period(OEP): From January 1 to March 31 for
those who missed AEP and want to make certain changes.
Special Enrollment Period(SEP): Can be used anytime during the
calendar year for those that meet certain criteria such as moving to a
new service area.

Finding Help with Medicare

Understanding Medicare can be complex, but you don’t have to do it alone. Licensed Insurance Brokers, Medicare.gov, and state health assistance programs can provide guidance tailored to your specific needs.

By taking the time to explore your Medicare options, you can make informed decisions that ensure you receive the healthcare coverage that best suits your lifestyle and budget.

Do I have to sign up for Medicare?

It depends upon your current coverage. If you are employed and your employer has over 20 employees then you can delay signing up for Medicare and avoid penalties.

Does Medicare cover Prescription Medications?

No, You will have to enroll in a stand alone Part D plan or a Medicare Advantage Plan(Part C) to get coverage.

I want to be able to go to any doctor/hospital, are there networks with Medicare?

There are no networks with Medicare and most doctors and hospitals accept it. However, Medicare does not cover 100% of services so a Medicare Supplement or Medicare Advantage plans is advisable.

Mike Miligi- Owner

For over 10 years, Mike has been assisting Seniors and other Medicare-eligible individuals in understanding the ins and outs of Medicare and Medicare Health Insurance options, including Medicare Advantage Plans(Part C), Medicare Supplement Plans(Medigap), Prescription Drug Plans(PartD), and Dental and Vision programs.

Mike is Licensed in seven States and Certified with 11 Insurance Carriers. He has helped thousands of individuals decide on the best course of action for their particular Health Insurance needs. Because Mike is an Independent Medicare Health Insurance Broker, he works for the client, not the Insurance Carriers, and is able to provide his clients with accurate and unbiased Health Insurance options.

Mike recertifies with CMS(The Centers for Medicare and Medicaid Services) annually, regularly completes Continuing Education Courses required by individual State Insurance Departments, and keeps abreast of industry trends and standards to offer his clients the most up-to-date information.