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MARTIN & ASSOCIATES INSURANCE SERVICES

MEDICARE SUPPLEMENT / MEDIGAP INSURANCE

Medicare Supplement Insurance, also known as Medigap, is private insurance that helps cover costs not paid by Original Medicare, such as copayments, coinsurance, and deductibles. It works alongside Medicare Parts A and B, allowing you to reduce out-of-pocket expenses for medical services. Medigap policies are standardized and offer different levels of coverage, ensuring predictable costs. These plans do not include prescription drug coverage, so a separate Part D plan may be needed. Medigap provides flexibility, letting you see any doctor nationwide who accepts Medicare, and offers peace of mind by filling gaps in your healthcare coverage.

MEDICARE ADVANTAGE

Medicare Advantage, also known as Medicare Part C, is an alternative to Original Medicare offered by private insurance companies. These plans combine Medicare Parts A and B and often include additional benefits like prescription drug coverage, dental, vision, and hearing services. Medicare Advantage plans typically use provider networks, such as HMOs or PPOs, requiring you to choose doctors and hospitals within the plan’s network. While premiums may be lower than Medigap, you may have copayments or coinsurance for services. Medicare Advantage offers an all-in-one solution for healthcare coverage, often including extra perks to enhance your overall health and wellness.

MEDICARE PART D (PRESCRIPTION DRUG COVERAGE)

Medicare Part D is prescription drug coverage offered by private insurance companies to help pay for the cost of medications. It is available as a standalone plan to pair with Original Medicare or as part of a Medicare Advantage plan. Part D plans vary in premiums, covered medications, and out-of-pocket costs but must meet Medicare’s minimum coverage requirements. Each plan has a formulary (drug list) organized by tiers, determining your costs for different medications. Part D helps protect against high prescription costs and provides peace of mind by ensuring access to necessary medications for managing chronic conditions or unexpected illnesses.

DENTAL & VISION

Dental and vision insurance helps cover the costs of routine and specialized care for your teeth and eyes. While Original Medicare doesn’t include dental or vision benefits, many Medicare Advantage plans offer this coverage. These plans may include services like cleanings, exams, X-rays, fillings, eyeglasses, and contact lenses, as well as discounts on more extensive procedures like crowns or cataract surgery. Standalone dental and vision plans are also available for those not enrolled in Medicare Advantage. These coverages ensure access to essential care, helping you maintain oral and eye health while reducing out-of-pocket expenses for routine and preventive services.

TRAVEL INSURANCE

Travel insurance with medical emergency coverage helps protect against unexpected healthcare expenses while traveling abroad. Original Medicare typically does not cover medical services outside the U.S., but some Medicare Supplement (Medigap) plans include limited foreign travel emergency benefits. These benefits cover up to 80% of emergency medical costs after a $250 deductible, with a lifetime maximum of $50,000. However, this coverage only applies during the first 60 days of your trip. Travel insurance can fill these gaps by providing comprehensive protection for medical emergencies, ensuring access to necessary care and reducing out-of-pocket costs while traveling internationally.

RETIREMENT, INCOME PLANNING & LIFE INSURANCE

Retirement and income planning focus on ensuring financial stability and meeting your needs after you stop working. It involves strategies to manage savings, investments, and pensions to create reliable income streams. Life insurance complements this by providing financial protection for your loved ones, helping cover debts, final expenses, or lost income. Together, these tools help safeguard your financial future, offering peace of mind and a secure foundation for enjoying retirement and protecting your family's well-being.