Medicare is the federal health insurance program for people who are 65 or older, certain younger people with disabilities, and people with End-Stage Renal Disease (permanent kidney failure requiring dialysis or a transplant, sometimes called ESRD). Medicare is divided into 4 different parts.
Generally, you reach Medicare eligibility if you or your spouse worked for at least 10 years in Medicare-covered employment and you are 65 years or older and a citizen or permanent resident of the United States.
Everyone’s financial situation is unique. There is no such thing as a one-size-fits-all retirement plan. We invite you to ask us any question and we'll provide you with an accurate answer.
Peter Magada knows that when you are approaching age 65 or are/considering retiring, there is a lot to think about when it comes to your Medicare insurance choices. There is a great deal of info that you get bombarded with whether it be mail, tv ads, phone calls, opinions etc. This can easily be very overwhelming and confusing to many. That’s exactly why we are here! We will help make sense of all of it!
A Medicare Advantage Plan (sometimes called part C or MA plan) is a type of Medicare health plan offered by a private company that contracts with Medicare to provide you with all your Part A and Part B benefits. Medicare Advantage Plans include Health Maintenance Organizations, Preferred Provider Organizations, Private Fee-for-Service Plans, Special Needs Plans, and Medicare Medical Savings Account Plans.
A Medigap policy is private health insurance that helps supplement Original Medicare. This means it helps pay some of the healthcare costs that Original Medicare doesn’t cover (like copayments, coinsurance, and deductibles). These are “gaps” in Medicare coverage.
Medicare Part D is the federal government’s prescription drug program that covers both brand-name and generic prescription drugs at participating pharmacies in your area.
