Medicare & MACRA WHAT YOU NEED TO KNOW ABOUT THEIR EFFECT ON FINANCIAL PLANNING

P R ES E N T ED BY E L I ZA B E T H G AV I N O, LU TC F & TAT YA N A G AV I N O, ES Q .

Why Should I Care About Medicare & MACRA?

Increases my credibility with

clients

Affects my clients’ current financial plans

Opens up planning

opportunities

Protects my book of business

Real Life Case Studies

Why Listen to Us? Independent Brokers

Over 20+ Years Experience in Industry

Master General Agent/General Agent for Senior Risk Planning Carriers

Who is Eligible for Medicare

When Can Someone Enroll?

Coverage Options

What do Parts A & B Cover?

Applying for Medicare – Step 1

Medicare Part B: Income Related Monthly Adjustment Amount (IRMAA)

Medicare Part D: Income Related Monthly Adjustment Amount (IRMAA)

Applying for Medicare – Step 2

What if Client Works Past Age 65?

Important items to consider

Coordination of Benefits

Special Election Periods: Enrollment After 65 When retiring, you may be eligible for a Special Enrollment Period (SEP). Your SEP may allow you to:

Enroll in Original Medicare (Parts A and B) for up to eight months after the month your employment or employer health insurance ends, whichever happens first

Enroll in a Medicare Advantage (Part C) or prescription drug (Part D) plan up to two full months after the month your employment or employer health insurance ends, whichever happens first

Medicare Access & CHIP

Reauthorization Act (MACRA) of

2015

MACRA: Medicare ID Cards How is the Medicare ID card changing?

When will the change occur?

MACRA’s Effect on IRMAA

MACRA: Observation

MACRA: Recovery Care

What happens when I need coverage?

MACRA’s Effects on Medicare Supplements

Medicare Supplement Offerings - Post 2020

Medigap Plans High Deductible Medigap Benefits Medigap Plans (After June 1st, 2010)

F F+ G G+

Medicare Part A Coinsurance hospital costs up to an additional 365 days after Medicare benefits are used up

X X X X

Medicare Part B Coinsurance or Copayment X X X X

Blood (First 3 Pints) X X X X

Part A Hospice Care Coinsurance or Copayment X X X X

Skilled Nursing Facility Care Coinsurance X X X X

Medicare Part A Deductible X X X X

Medicare Part B Deductible X X X*

Medicare Part B Excess Charges X X X X

Foreign Travel Emergency (Up to Plan Limits) X X X X

*Part B Deductible will count towards the Out-of-Pocket limit. *HDG will not provide coverage for any portion of the Medicare Part B Deductible

Out-of-Pocket Limits*

Out-of-Pocket Limits*

$2,200 TBD

Which One Should the Client Choose?

Case Study No. 1 – The

Physician Couple

Husband, age 70

Wife, age 68

Case Study No. 2 – The

Financial Planner

Successful Financial Planner and wife turning 65.

Case Study No. 3 – The

Retired Couple

Wife retiring with retiree benefits

Husband suffered from stroke and turning 65

Case Study No. 4 – The

Hybrid

Wife is a breast cancer survivor

Husband rarely sees doctor

Case Study No. 5 –

Investment Company Executive

Husband Turning 65 and has a retiree benefit through employer

Wife turning 65 at same time

Any Questions?

Next Steps

Call Us

201-659-7170 for insurance solutions

Email

info@lewinandgavino.com

Set up

Appointments with clients

Thank You for Attending!