Blog

When navigating health insurance, you come across terms like coinsurance and copays both of which determine how much you pay for medical services. While some people use these terms interchangeably, they have distinct meanings and impact out-of-pocket healthcare costs differently. Understanding the differences between copays and coinsurance can help beneficiaries have a better understanding of how their coverage works.

What is a Copay

A Copay (copayment) is a fixed amount plan enrollees pay for a specific healthcare service. Copays are typically required at the time of service and apply to things like primary care or specialist visits, urgent care visits, and prescription medications.

How Copays Work

• If a health plan has a $30 copay for primary care visits, plan enrollees pay $30 each time they see their doctor, regardless of the total cost of the visit.
• When a plan specifies a $50 copay for a specialist visit, enrollees pay that amount, while the insurance covers the rest of the cost for the visit itself. Please keep in mind; some medical services include additional charges.
• Copays for prescriptions vary based on tiers (generic vs. brand-name drugs). Copays for prescriptions may vary greatly based on the drug.

What is Coinsurance

Coinsurance is a percentage of the cost for medical services, equipment or prescriptions that enrollees are responsible for after they meet the deductible. Unlike copays, which are fixed amounts, coinsurance is a percentage of the total bill.

How Coinsurance Works

• If the plan enrollee has a coinsurance of 20% and receives medical services that cost $1,000, their cost is $200. Their insurance covers the remaining $800, once they meet their annual deductible amount.

Differences Between Copays and Coinsurance

Which is Better: Copay or Coinsurance

Neither is inherently better. Each affects overall healthcare costs in different ways. Plans with higher copays may have lower monthly premiums, making them ideal for those who prefer predictable costs. In contrast, plans with coinsurance may have lower copays. This can result in higher out-of-pocket costs for major medical procedures.

Choosing a Plan

Those who visit doctors frequently may prefer a plan with lower copays to help save some money. It is important to consider any known major medical expenses and focus on a plan that provides a lower coinsurance amount and a manageable deductible. It is also important to be aware of the maximum out-of-pocket limit, which caps the amount enrollees pay each year before approved medical expenses are covered at 100%.

Online quoting and enrollment tools help show plan costs side by side to make choosing a plan easier. Medicare agents; click the links below to see how to run a quote on Sunfire and Connecture, our free agent quoting sites.

Agents see how easy it is to use Sunfire for a quote and an enrollment

Take a look at how to use Connecture for quoting and enrollments

Understanding how copays and coinsurance work helps individuals estimate medical expenses and choose a plan that aligns with their healthcare needs and budget. Carefully comparing these costs can help avoid unexpected bills and make the best health coverage choice for each individual

If you’re a Medicare agent, you may receive calls from clients asking if Medicare covers their annual checkup. Most likely, your answer will confuse them. Many do not understand the difference between Medicare wellness visits vs checkups. Some people use these terms interchangeably. However, these are actually two different types of appointments. Understanding the distinction can help beneficiaries make the most of their Medicare benefits.

What is an annual wellness visit

An annual wellness visit is a preventive service that Medicare Part B covers. This visit helps beneficiaries and their providers create or update a personalized prevention plan based on current health and risk factors.

During this visit, the doctor reviews the beneficiary’s medical history, medications, height, weight, and blood pressure. They also assess cognitive function and risk factors for conditions like dementia. The beneficiary receives personalized health advice and screenings. The doctor and beneficiary may use this visit to discuss advance care planning and develop or update a prevention plan.

Medicare covers 100% of the cost for an annual wellness visit. In other words, there is no copay or deductible if your provider accepts Medicare assignment.

What is an annual checkup

An Annual Checkup (Routine Physical Exam) is a comprehensive medical evaluation that goes beyond the preventive focus of an annual wellness visit. Unlike the annual wellness visit, Medicare does not cover routine physicals. Those who request an annual checkup, may pay out of pocket unless they have insurance that covers it. During an annual checkup, the doctor may perform a physical exam, listen to the heart and lungs as well as order lab tests such as blood work. The provider assess overall organ function and diagnose medical issues.

Because an annual checkup involves diagnostic and treatment-related services, Medicare does not cover this visit unless it is used to address health concerns under medical necessity.

Why this matters for Medicare beneficiaries

Many Medicare beneficiaries schedule an “annual physical” expecting it to be fully covered, only to find out later that Medicare does not pay for it.

In order to avoid unexpected costs; beneficiaries who want a preventive visit covered by Medicare should ask for an “annual wellness visit.”

Click here to learn more about Medicare annual wellness visits

Anyone who needs a full physical exam including diagnostic tests, or lab work should check on the potential costs.

Understanding the difference between these visits ensures beneficiaries receive needed care and helps them avoid unexpected medical bills.

Medicare Part D (prescription drug coverage) is essential for anyone enrolled in Medicare. Additionally, it is equally important that both agents and enrollees understand the Medicare Part D enrollment periods.

IEP (Initial Enrollment Period)

The IEP ( Initial Enrollment Period) is the beneficiaries first opportunity to enroll in Medicare coverage, this includes Part D. IEP is a 7 month window that begins three months before the month the beneficiary turns 65. It includes their birthday month and ends three months after their 65 birthday month.

Individuals who are eligible for Medicare due to disability have an IEP that starts three months before their eligibility date and ends three months after their 25th month of disability benefits.

During this period, beneficiaries can either enroll in a standalone Part D plan or an MAPD (Medicare Advantage plan that includes drug coverage).

AEP (Annual Enrollment Period)

The AEP (Annual Enrollment Period), sometimes referred to as Open Enrollment, takes place annually from October 15 to December 7. During this time, beneficiaries can enroll in a Part D (PDP) plan if they miss their IEP. They can also switch from one Part D plan to another or enroll in an MAPD plan. As long as they have Part D coverage.

Please note: any changes in coverage made during AEP take effect on January 1st of the following year.

MA OEP (Medicare Advantage Open Enrollment Period)

This enrollment period runs from Jan 1 through March 31 each year and is only available to those already enrolled in a Medicare Advantage plan. This provides enrollees an additional opportunity to make changes to their current MA/MAPD plan.

During the MA OEP beneficiaries can change from one Medicare Advantage plan to another Medicare Advantage plan either with or without Part D coverage. They can also disenroll from a Medicare Advantage plan and go back to Original Medicare with the option to enroll in a stand alone Part D plan and a Medicare Supplement. Please note the beneficiary must have a guaranteed issue election or pass underwriting to enroll in a Medicare Supplement plan.

Watch a quick YouTube video on OEP best practices

SEPs (Special Enrollment Periods)

SEPs (Special Enrollment Periods) allow beneficiaries to make changes to Part D coverage outside the standard enrollment windows under specific circumstances, such as:

Losing other creditable drug coverage: If the enrollee loses employer sponsored coverage or their plan is discontinued in their service area, they have 63 days to enroll in a Part D plan after losing coverage.

Moving to a new service area: If the current plan isn’t available in their new location, the enrollee is eligible for an SEP.

Qualifying for Extra Help: Individuals eligible for Medicare’s Extra Help program can change their Part D plan once per calendar quarter during the first three quarters of the year.

LEP (Late Enrollment Penalty)

It’s important for beneficiaries to enroll in Part D coverage when first eligible to avoid the late enrollment penalty. The penalty applies if they go without creditable prescription drug coverage for a period of 63 consecutive days or more once their IEP is over.

The penalty is calculated based on how the beneficiary went without coverage and is added to their monthly premium amount for life.

How to choose the right plan

1. It is imperative to check all medications to see which plan provides the best coverage for them. All plans have their own formulary.
2. Compare the plans that cover the drugs best. Consider all costs for each plan. The cost includes the premium as well as deductibles, copays and coinsurance.
3. Make sure the plan is in network the preferred pharmacy to ensure you get the best price.
4. Because plan costs and coverage changes each year, it is important to review coverage options each year during the AEP.
5. Ask for assistance from a licensed Medicare agent who is appointed with several area carriers to provide the best options for coverage. The medicare.gov tool is a good way to check prices but it cannot answer your specific questions.

Understanding Medicare Part D enrollment periods and rules can save money and ensure you have the coverage you need.

Why use a Medicare agent

If anyone asks why people use Medicare insurance agents, we have a few good reasons below.

To start; Medicare agents complete hours of training on both compliance regulations.  They also complete hours of study and testing on the Medicare products available in their area.  They must be well versed on the plans and provide detailed information to clients. A good agent can provide comparisons of several plans and help find the Medicare plan to best fit their needs.

learn the difference between Medicare Advantage and Medicare Supplements,

Compare plan choices

Because health insurance coverage is such an important decision, it is important for clients to understand all their choices. Choosing the wrong plan can be a very costly mistake.  For this as well as many other reasons, the help of a licensed Medicare agent is essential. A Medicare agent can go over the client’s list of wants/needs for coverage and find plan options that are right for them. Agents help clients weigh the benefit of each plan. Medicare plan benefits, rules, and exceptions may be overwhelming to sort out without a trained professional.

To find out about our quoting tools, Connecture and Sunfire, click here

Consider the client’s current coverage

It is important to consider the client’s current Medicare coverage and find out what about the plan works or does not work for them.  With this information in mind, it is easier to find help them decide whether they should stay in their current plan or if there are better options available to them.

Agents do not charge for their service

As a Medicare agent, you cannot take money from the client for the advice you provide.  This means clients receive expert advice at no cost.  This service is provided for free.  That is one deal you cannot beat!

Medicare agents receive payment through a couple different ways depending on the type of agent they are.  Agents who are employed by and insurance company receive payment based on their agreement with their employer.  Many other agents who are not captive with a carrier, receive payments through the commissions they earn.  They may receive this payment directly from the carrier or if they are LOA, they receive payment from their up-line.  Either way, the amount they make is based on their total number of sales made.

Please note: commission amounts vary based on the plan type and carrier as well as the level each individual agent is contracted at.

Find out about commission levels for 2025

How clients choose a Medicare agent

Here are some things clients may consider when they choose a Medicare agent.

1.  The first way clients choose an agent is usually word of mouth.  If you have done a great job helping their friends, relatives or co-workers, believe me they will hear about it.  People love to tell their friends about an agent who really did a good job for them.  That is why all your clients need to know that you are there to answer any questions or concerns they have.
2. Clients feel better knowing they are working with an experienced agent someone who understands the plan benefits and how they work.  Be sure you are up to date on all the plans in the areas you sell in as well as what the rules for enrollment are.
3. Offer many different carries and plan types for each area you sell in.  Clients want to work with an agent who has access to all the best plans in their area.  Each client is an individual and one plan type may not be the best choice for every client. Do not offer only Medicare Advantage plans as some clients are better off with a Supplement and PDP plan.

Click here for a scope of appointment

A knowledgeable and caring Medicare agent is a very valuable resource for the community. If you make sure you are well informed and truly enjoy helping those who need advice on Medicare coverage, you can become a successful agent with the right amount of time, effort & training.

What qualifies as preventative under Medicare and how do you ensure you take full advantage of these benefits? Because preventive care is an essential part of staying healthy and managing potential health risks before they become serious, Medicare recognizes the importance of preventive care and offers a range of services to help beneficiaries maintain their health.

What Is Preventive Care

Preventive care refers to medical services that aim to prevent illness, detect conditions early, or promote overall good health. These services can include screenings, vaccines, counseling, and much more. By focusing on prevention, Medicare helps beneficiaries proactively manage their health and reduce the need for more costly treatments in the future.

Click here to download a copy of a comprehensive list or covered preventative services

Medicare Coverage for Preventive Services

Medicare provides a wide array of preventive services under Part B (Medical Insurance). Many of these services are available to beneficiaries at no cost. These services may help detect health problems early when treatment is sometimes more effective and less expensive.

Some common types of preventive care Medicare covers:

Wellness Visits

Within the first 12 months a beneficiary enrolls in Medicare Part B, they are entitled to a “Welcome to Medicare” preventive visit. This one-time visit includes a review of your medical and family history, as well as basic measurements like height, weight, and blood pressure.

After your initial visit, Medicare covers an annual wellness visit each year. This can help create or update a personalized prevention plan. This plan can help beneficiaries stay on top of their health by identifying risk factors and setting health goals.

Vaccinations and Immunizations

Medicare covers vaccines that help prevent serious illnesses, including:

1. Flu Shot (Influenza): Covered once per flu season, typically every fall or winter.

2. Pneumococcal Vaccines: Medicare covers two different pneumococcal shots. The initial shot as well as a second shot a year later if appropriate.

3. Hepatitis B Vaccine: Available to those at medium or high risk for Hepatitis B.

4. COVID-19 Vaccines and Boosters: Medicare covers COVID-19 vaccines and booster shots as recommended by health authorities.

5. The Shingles Vaccine: This vaccine is administered in two doses. The second dose is given two to six months after the first. Medicare covers the cost of both doses.

Read more about Medicare coverage of vaccines

Screenings and Tests

Medicare offers a variety of preventive screenings and tests to help detect health issues early, including:

1. Mammograms: Medicare covers mammograms for the purpose of screening once every 12 months for women aged 40 and older. Medicare may also cover diagnostic mammograms if medically necessary.

2. Colon Cancer Screenings: Medicare covers multiple types of colon cancer screenings, including fecal occult blood tests, multi-target stool DNA tests (like Cologuard), flexible sigmoidoscopy, and colonoscopy. The frequency of these tests depends on the specific test and risk factors.

3. Bone Density Tests: Covered once every two years (or more often if medically necessary) for individuals at risk for osteoporosis.

4. Diabetes Screenings: Medicare covers up to two diabetes screenings per year for individuals at risk. This includes those with a history of high blood pressure, high cholesterol, obesity, or a family history of diabetes.

5. Cardiovascular Screenings: Medicare covers a screening blood test every five years to check for conditions like high cholesterol and triglyceride levels.

Cancer Screenings

Because early detection of cancer can lead to better treatment outcomes. Medicare covers:

1. Cervical and Vaginal Cancer Screenings: Medicare covers pap tests and pelvic exams are once every two years, or every year for women at high risk

2. Prostate Cancer Screenings: Annual prostate-specific antigen (PSA) tests and digital rectal exams for men aged 50 and older.

3. Lung Cancer Screenings: Low-dose CT scans are covered annually for individuals at high risk, particularly heavy smokers or those who have quit smoking within the past 15 years.

Cardiovascular Health

Medicare covers several services to help maintain cardiovascular health, including:

1.Cardiovascular Behavioral Therapy: This includes counseling on diet and exercise to help reduce the risk of heart disease.

2. Blood Pressure Screenings: These are typically part of your annual wellness visit.

Diabetes Prevention Program

The Medicare Diabetes Prevention Program offers lifestyle coaching and resources to help beneficiaries at risk for diabetes prevent the onset of the disease. The program is designed to encourage weight loss, healthy eating, and regular physical activity.

Mental Health and Wellness

Medicare also covers preventive services aimed at mental health, including:

1. Depression Screenings: Medicare includes an annual screening for depression as part of the yearly wellness visit.

2. Alcohol Misuse Counseling: Medicare covers counseling for beneficiaries who are screened and found to have alcohol misuse issues.

3. Smoking Cessation Programs: Medicare covers up to eight counseling sessions per year to help beneficiaries quit smoking.

Obesity Screening and Counseling

For individuals with a body mass index (BMI) of 30 or higher, Medicare covers counseling sessions to help promote weight loss and healthy living. This coverage includes regular face-to-face meetings with a healthcare provider.

Screenings for Infectious Diseases

Medicare also offers coverage for screenings to detect infectious diseases, including:

1. HIV Screenings: Covered once every 12 months, or more frequently for individuals at higher risk.

2. Hepatitis C Screenings: Covered once if born between 1945 and 1965, or annually for those at high risk.

3. Sexually Transmitted Infections (STIs): Medicare covers both screenings and counseling sessions annually for individuals at risk.

Make the Most of Medicare Preventive Services

1. Schedule an annual wellness visit: This visit is a great opportunity to discuss overall health and get a personalized prevention plan. It’s also a good time to make sure you’re up to date on all the preventive services you’re eligible for.
2. Know What Medicare Covers: Familiarize yourself with the list of preventive services Medicare covers and discuss these options with your healthcare provider. They can help determine which screenings and vaccines are appropriate for you.
3. Keep Track of When You’re Eligible: Medicare covers some services once a year or every few years. Make a note of when you’re eligible for your next screening or vaccination.

Preventive care is an important part of Medicare coverage and can help you stay healthier, detect potential problems early, and avoid costly treatments. Whether it’s a simple flu shot, a cancer screening, or an annual wellness visit, Medicare makes it easy for beneficiaries to access a wide range of preventive services. Understanding what’s covered and taking advantage of these benefits can play a key role in maintaining health and well-being.

If you need help choosing a Medicare plan, click here to learn why you should use a licensed Medicare agent

Medicare income limits 2024

The Medicare income limits 2024 effect about 7% of Medicare beneficiaries.  Each year, the Social Security Administration determines the income limit that the IRMAA is based on.  It’s crucial to stay up to date on the annual income limits weather you are an agent or a beneficiary. In this post, we go over Medicare income limits for 2024 and how they can impact beneficiaries.

Why Medicare income limits matter

Extra Help income limits 2024

Medicare Extra Help is a federal program put in place to help individuals whose income and financial resources are limited.  It provides help for those who qualify to pay the costs of their Medicare prescription drugs. The subsidies provided by this program cover premiums, deductibles, as well as co-pays for the costs of Medicare prescription drug plans (Part D).  To qualify for this program, individuals must meet the income criteria set by the federal government each year.  In this post, we will go over the Extra Help income limits 2024.

How to Qualify for Extra Help

1.  Be a U.S. citizen or legal resident

To enroll in Original Medicare, individuals must either be a United States citizen or a legal resident for at least 5 years. In turn, to enroll in Medicare’s Extra Help program, an individual must qualify for Medicare.

Extra Help is crucial for individuals who require assistance with the costs of prescription drugs. Understanding the requirements is the first step to finding the necessary help to ensure the needed coverage is received.

If you like the image in this post and want to view more from this artist, click here

Medicare leads

If you are a Medicare agent, one thing that you are always looking for is Medicare leads.  There are many places you can find leads. The most valuable leads are T-65 leads.  These leads are the best to get because insurance carriers pay the highest commissions for new to Medicare enrollments.

Watch a YouTube video on Medicare commission payments

Individuals turning 65 are also a great lead to get because an agent that does their job well, now has a new client on his books for quite a long time to come.  As long as the agent provides useful guidance to the beneficiary and ensures they are happy with their plan choice, they can develop a mutually beneficial relationship.

Before you contact anyone, it is very important to understand the CMS rules of how to do it.  Click here for details.

Click here to find out about our Medicare lead program.

In reality, many leads sources like online leads, inbound calls and pre-set leads do not produce many T-65 prospects. What they do provide is the contact information for current Medicare beneficiaries.  In reality, many of the people already have an agent and are not seeking guidance, although agents may find individuals who are unhappy with their current plan and/or their agent.  If you find a valid enrollment period, you can provide the assistance and coverage that the beneficiary is looking for.

If the potential client decides to enlist your assistance as an agent, you may need them to list you as their AOR.  Some Insurnace carriers allow clients to designate an agent as AOR even if they do not write a plan at that time.  When this happens, you have a client added to your book and can help them change their plan at a later date if it is appropriate. Learn how to make AOR changes.

T-65 Seminars

A great way to meet several individuals turning 65 is by hosting an educational event.  Our seminar selling program is an effective tool to provide needed information to the people who need it. This is truly a turn-key program that guarantees agents get in front of T-65 leads. Find out more about the seminar program.

Watch a video on the T-65 seminar program

If you decide to host an educational event, it is important to follow CMS guidelines for hosting an educational event.  If you decide to do a sales event, there are specific guidelines to follow as well.

Additionally, Crowe agents can access to a preset lead program.  This program provides leads at a very good close ratio.

Watch a video on our preset lead program.

Free leads

Agents who put in the effort to ensure their clients are happy with their coverage choices can easily earn referrals.  In order to ensure clients are happy, agents must be in contact with their clients and go over new plan options each year during the AEP.  As well as other times during the year to maintain the relationship and ensure clients are happy and do not seek answers to Medicare questions elsewhere.

Read more about how to get Medicare referrals

Establish relationships with other local professionals

It is a great idea to introduce yourself to healthcare professionals, doctors and clinics in your area as well as other professionals who work with clients that may need your advice.  Once they know you and are aware of the services you provide, it is easy to build a partnership and open doors to new lead prospects.  This will help establish you as a knowledgeable resource for anyone who needs advice.

Take a look at a few more Medicare marketing ideas

If you like the image on this post and want to view more, click here

Medicare enrollment dates

If you are either getting close to your 65th birthday or are in Medicare sales, you should understand the Medicare enrollment dates.

Enrolling in Medicare can be confusing for beneficiaries and understanding the enrollment process is crucial to access the benefits your clients need. From IEPs to SEPs, the Medicare system is designed to accommodate various life circumstances. In this post, we go over several of the Medicare enrollment periods and how beneficiaries can use them to get the healthcare coverage they need.

Initial Enrollment Period (IEP)

The Initial Enrollment Period (IEP) is the first opportunity for most individuals to enroll in Medicare. IEP is a 7 month time frame that starts 3 months before the month of your 65th birthday, includes your birthday month, and ends three months after the month you turn 65.  During this period, individuals can sign up for Medicare Part A (Hospital Insurance) and Part B (Medical Insurance) if they choose to.

Learn more about enrollment periods

Special Enrollment Periods (SEPs)

Special Enrollment Periods (SEPs) are designated times outside the initial enrollment period when individuals can sign up for Medicare due to specific qualifying events. Some of the most common qualifying events include:

Loss of Employer Coverage

If a beneficiary is covered under a group health plan through their own  or their  spouse’s current employment, they are eligible for an SEP when they lose the employer coverage.

Moving out of the plans service area

When a client moves out of their plan’s service area, they qualify for an SEP to enroll in a new Medicare plan.

Becoming Eligible for Extra Help

Individuals who become eligible for Extra Help with Medicare prescription drug costs qualify for an SEP to enroll in a Medicare Prescription Drug Plan (Part D) or Medicare Advantage Plan (Part C) that includes prescription drug coverage.

General Enrollment Period (GEP)

For individuals who miss their initial enrollment period, the General Enrollment Period (GEP) provides another chance to enroll in Medicare. The GEP runs each year from January 1st to March 31st. Coverage obtained during this period begins the first of the month after you enroll.  it’s important to note, beneficiaries who wait until the GEP may have to pay a late enrollment penalty.

Click here to learn about late enrollment penalties LEPs

Annual Enrollment Period (AEP)

The Annual Enrollment Period (AEP), also known as the Medicare Open Enrollment Period, runs each year from October 15th until December 7th. During this time, Medicare beneficiaries can make changes to their Medicare coverage.  This includes; switching from Original Medicare and Medicare Advantage plans, as well as joining, dropping, or switching prescription drug plans.

How to best use the Medicare enrollment dates

1. Stay Informed: Keep track of your eligibility and enrollment periods to ensure you don’t miss important deadlines.
2. Review Your Coverage Needs: Regularly assess your healthcare needs to determine if  current coverage is still suitable or if changes are necessary.  Agents make sure you contact your clients regularly, especially during AEP to go over coverage options for the following year and ensure they are happy.
3. Seek Assistance if Needed: If you have questions or need guidance regarding Medicare enrollment, it is best to reach out to a licensed insurance agent.

Medicare agents be sure to maintain your book of business, click here for some ideas.

Agents, are you ready to join a winning team, click here for Crowe contracting!

Understanding Medicare enrollment dates is essential for to ensure beneficiaries have access to the healthcare coverage they need. By familiarizing yourself with the various enrollment periods and their significance, you can navigate the Medicare system with confidence and peace of mind. Remember, staying informed and proactive is key to making the most of your Medicare enrollments.

If you like this image and want to view more buy this artist; click here

Medicare Supplement Free Look Period

If you are an agent who offers Medicare plans, it is important to understand opportunities to provide clients with the coverage they deserve.  For those enrolled in Medicare, supplement plans offer an additional coverage option.  Because choosing the right supplement plan is an important decision, sometimes a client may change their mind. To safeguard against errors, Medicare offers the free look period.  In this post, we discuss the Medicare supplement free look period, why it’s important, and how beneficiaries can use it.

Learn the difference between Medicare Supplement and Medicare Advantage plans

What is the Medicare Supplement Free Look Period

The Medicare supplement free look period is a time beneficiaries can review their new Medicare supplement plan and, if unsatisfied, make changes without penalty. This period typically lasts for 30 days after the plan’s effective date.

If the client buys a Medicare Supplement policy during their 6-month Medicare Supplement OEP and are unhappy with it, they can change to another Medicare Supplement policy. When the client gets a new (second) Medicare Supplement policy, they have 30 days to decide if they are going to keep it.  This time period is called the 30-day free look period. The client shouldn’t cancel the first Medicare Supplement policy until they are sure they want to keep the second Medicare Supplement policy. Unfortunately, they have to pay both premiums for the month they have both.

Reasons to change a supplement plan

1. Paying for benefits you don’t need.
2. Client needs more benefits.
3. Do not like the insurance company
4. They need a lower cost plan

Are you looking for an FMO, see why you should consider joining the Crowe team!

Why Does the Free Look Period Matter

Peace of Mind

Because choosing a Medicare supplement plan is overwhelming, sometimes beneficiaries make decisions in haste or without full understanding.  This can lead to dissatisfaction. The free look period offers reassurance to beneficiaries, allowing them to thoroughly evaluate their plan and its benefits at their own pace.

Risk Mitigation

Mistakes in selecting a Medicare supplement plan can be costly, both financially and in terms of coverage gaps. The free look period serves as a safety net, enabling beneficiaries to rectify any errors or misunderstandings without facing financial penalties or being locked into a plan that doesn’t meet their needs.

Consumer Protection

The free look period is designed to protect Medicare beneficiaries from being pressured into purchasing plans that may not be suitable for them. It empowers individuals to make informed decisions about their healthcare coverage without feeling rushed or coerced.

Medicare supplement plan comparison – click here

Making the Most of the Free Look Period

Thoroughly Review the Plan

It is important to go over all aspects of the Medicare supplement plans your client is considering.  Please remember, this not only includes coverage but all costs involved.

Compare Plans

To ensure the client has made the best plan choice, agents should comparing it with other available plans. This can help you identify any discrepancies or better alternatives.

Seek Guidance

Beneficiaries should reach out to a licensed insurance agent for assistance. They provide valuable insights and help navigate the confusing landscape of Medicare coverage.

Document Everything

Important: clients should keep detailed records of their conversations with insurance provider representatives.  They need to include any changes made to their plan or communications regarding the free look period. This documentation serves as evidence in the event there are any disputes or discrepancies.

The free look period is an opportunity for beneficiaries to ensure they have the right coverage for their healthcare needs. Individuals who take advantage of the free look can make informed decisions.  They can also, rectify mistakes, and achieve peace of mind regarding their healthcare coverage. Remember, health is invaluable, and the right Medicare supplement plan can make all the difference in accessing quality healthcare.