Medicare plans in Englewood Cliffs, New Jersey

Are you living in Englewood Cliffs, New Jersey, and you just recently turned 65? or are you using Medicare for the first time? If so, you may wonder if you’re eligible for Medicare insurance. 

Learn more about your Medicare plan options in Englewood Cliffs, New Jersey, whether you’re looking for Original Medicare or Medicare Advantage. 

What is Medicare?

Medicare is a federal health insurance program founded in 1965. Medicare in Englewood Cliffs, New Jersey, as in the rest of the country, is designed to provide medical care for people aged 65 and older, young people with disabilities, and those with end-stage renal disease.

Parts of Medicare

Original Medicare Plans:

• Part A: It is also called hospital insurance. The plan covers care in a skilled Nursing facility, and inpatient hospital stays, Hospice care, and home health care. Part A is free for most people in Englewood Cliffs, New Jersey, as in the rest of the country.

You don’t have to pay a monthly Part A premium if you’ve worked for ten years (40 quarters) and paid enough Medicare taxes. If you don’t qualify for the free Part A of the premium, you may be able to purchase Part A. In 2023, the Part A premium for those who have to pay is $506 per month. 

• Part B: Medicare Part B covers specific medical services, medical supplies, outpatient treatment, preventive services, and services like x-rays, diagnostic tests, and those requiring kidney dialysis. If you are eligible for Medicare Part A, you are also qualified for Part B. However, Part B is not premium-free. The premium in 2023 is $164.90.

Medicare Insurance Options:

• Part C (Medicare Advantage): Medicare-approved private companies offer Medicare Part C. You must enroll in Original Medicare before you can get a Medicare Advantage plan. However, you won’t be able to use original Medicare while you have Part C. You can also get additional benefits that Original Medicare doesn’t offer. Other benefits could include vision, hearing, and dental services. It may include gym memberships and debit cards for over-the-counter (OTC) products. 

  To maintain your Medicare Advantage plan, You must pay your Part B premium. The premium and copay rates of Medicare Part C vary depending on the insurance company, the program selected, and the country of residence.

• Part D (Medicare Drug coverage Plan): It’s an optional part of Medicare you think you might not need, which covers prescription drugs. You may have to pay a fine if you decide not to join a PDP when you first qualify. This penalty could last the rest of your life. 

Medicare supplement insurance (Medigap):

Some private companies are authorized to offer Medigap plans. It is an insurance contract that helps fill gaps in your original Medicare. Each program is standardized, which means you will get the same benefits regardless of which company you obtain the plan from. Some companies offer certain extra benefits like a gym membership. But they can eliminate this benefit at any time.

Enrollment Periods

• Initial enrollment: You can receive Medicare for the first time in the initial enrollment phase. If your 65th birthday is coming up, you can enroll for Medicare up to three months before your birthday. The registration period ends three months after your birthday.
• 25th Disability Benefit: When you are under 65 and already receiving Medicare because of a disability, you can sign up for Medicare three months before getting your 25th disability benefit. Your benefit starts 25 months after your disability benefit. 
• General Enrollment: If you miss the initial enrollment, you can still sign up during the General Enrollment Period, which runs annually from January 1 to March 31. 
• Open Enrollment Period: It only applies to people who have already signed up for a Medicare Advantage plan. The enrollment runs between January 1 and March 31 annually. During this enrollment period, you can only make one change. You can change your plan from one Medicare Advantage to another or cancel Medicare Advantage and switch to Original Medicare. You may also add a drug plan that automatically cancels your subscription to your MA plan. 
• Annual Election Period: The AEP starts on October 15 and ends on December 7. AEP is when most people make changes each year.

How to compare the right Medicare coverage :

• Determine what type of plan you want to have. Medicare Advantage or Medigap plans
• Find out how much your drug will cost. Your local Medicare agent or insurance agent can help you, or you can make a comparison on Medicare.gov based on your location and your medications. 
• Medicare uses a star rating system to evaluate the quality of care and customer service provided by Medicare Advantage plans. You should check the star rating if you choose a Medicare Advantage plan. 
• Financial strength assessments. If you want a Medigap plan, you need to find out how financially sound the company is. 

Do You Need a Medicare Insurance Agent?

Looking for original Medicare plans, Medicare supplement insurance, or Medicare Advantage can be overwhelming and confusing.

You’ve probably received tons of emails about Medicare. You may have even received phone calls or text messages (unless you’ve allowed the agent or broker to call you, it’s against Medicare rules, so be careful). 

In short, a Medicare broker represents insurance companies that offer Medicare products like Medicare Advantage plans, stand-alone prescription drug plans, and Medigap plans. 

A Medicare insurance agent is an independent representative who can help you understand your options and sign up for the plan that best suits your needs since they work with several companies. Be sure to ask if your representative can help you compare different companies. 

Agents usually work with one company. Brokers are not committed to any individual insurance company. They can provide unbiased recommendations and help you compare the rates of different insurers to find the one that’s right for you. 

If you can’t get help with your Medicare insurance, consider working with a local Medicare agent in Englewood Cliffs, New Jersey. With years of industry experience, they can provide expert advice and support, from finding the right plan to registering and maintaining your insurance contract year-round. 

It is essential that you understand your Medicare insurance coverage. Our friendly licensed insurance brokers will be happy to help you choose a plan that fits your needs. 

Go to https://CertifiedMedicareAgents.com and find your favorite member broker today! 

Originally Published on https://www.certifiedmedicareagents.com/blog/

Katherine Kline Podcaster, Blogger

I host the Rock Your Retirement Show, which is about Lifestyle, not money or insurance! I started the show in 2016 before anyone knew what a podcast was, and now it's had over one million downloads. At this point, there is a lot of information in our back catalog and we try to release an episode every month.

I'm a retired Financial Advisor (after 25 years) and now I try to have fun with my husband, my dog, and my friends.

I'm also the founder of CertifiedMedicareAgents.com, a site that brings insurance agents together with people who are looking for help with Medicare.