Original Medicare
It's all about the A's and B's of Medicare coverage
Regardless of your needs, Fika Insurance Group, serving South Carolina, North Carolina, Georgia, and beyond, is here to help you find the right plan.
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Clients Nationwide
Serving Multiple States
Fika Insurance Group, headquartered in Greenwood, South Carolina, proudly offers services across several states, including:
South Carolina (SC)
Our home state, where we provide comprehensive Medicare, Life, and Health insurance solutions tailored to meet the unique needs of South Carolinians.
North Carolina (NC)
Serving North Carolina with personalized insurance plans that ensure peace of mind for individuals and families.
Georgia (GA)
Offering Georgia residents access to a wide range of insurance products designed to protect and secure their future.
Tennessee (TN)
In Tennessee, we are dedicated to providing exceptional insurance coverage to safeguard your health and financial well-being.
Florida (FL)
Serving North Carolina with personalized insurance plans that ensure peace of mind for individuals and families.
Texas (TX)
Serving the vast and diverse population of Texas with tailored insurance solutions that fit their specific needs.
Colorado (CO)
Providing Colorado residents with reliable insurance options to protect their health and assets.
Indiana (IN)
Offering comprehensive insurance services to ensure the well-being and security of Indiana residents.
Ohio (OH)
Helping Ohioans find the right insurance coverage to meet their health and financial goals.
Pennsylvania (PA)
Providing personalized insurance solutions to the residents of Pennsylvania, ensuring their peace of mind.
Maryland (MD)
Serving Maryland with expert insurance advice and comprehensive coverage options.
Maine (ME)
Offering Maine residents access to top-notch insurance products to protect their health and future.
What Does Medicare Cover?
Medicare Part A and Part B are often described as “Original Medicare.” Medicare frequently covers most of the standard services for beneficiaries. You may also hear Part A called “Hospital Insurance” and Part B referred to as “Medical Insurance.” Upon enrollment into Medicare, beneficiaries receive a red, white, and blue card showing what parts of Original Medicare they have and when the coverage began. For a more in-depth look at the wide range of medical services covered, please visit Part A and Part B Explained. Fika Insurance Group, headquartered in Greenwood, South Carolina, and serving South Carolina, Georgia, and other states, can also help you explore your other coverage options, such as Medicare Supplement Insurance, also known as Medigap, or Medicare Advantage Plans.
Coverage Under Medicare Part A
- Inpatient care in hospital
- Skilled nursing facility care
- Hospice care
- Home health care
- Doctors & healthcare providers
- Outpatient care
- Home health care
- Durable equipment
- Preventive Services
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What Does Original Medicare Part A and Part B Cost?
In most cases, the cost is just as important as the coverage. While there are several factors in determining the cost of Original Medicare, here is a starting point when considering a budget for your coverage:
Part A Costs
- Part A (2024): $0 (Premium free for most people)
Part B Costs
- Part B (2024): $174.70
It is essential to note that the Medicare Part B premium is income-based, and both Part A and Part B have separate deductibles that must be met before coverage will begin. Additionally, it's important to factor in other Medicare costs such as copayments and coinsurance when budgeting.
Additional Costs
- Part A Deductible (2024): $1,600 per benefit period
- Part B Deductible (2024): $226 per year
Beyond premiums and deductibles, beneficiaries should consider potential copayments and coinsurance. For example, Part A may have copayments for extended hospital stays, and Part B may have coinsurance for outpatient services.
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Your Assurance of Quality and Trust
Fika Insurance Group is proud to be G-2 Certified, a mark of our commitment to excellence and integrity in the insurance industry. This certification is your assurance that we adhere to the highest standards of quality and trust, providing you with reliable and trustworthy insurance solutions.
Frequently Asked Questions!
You now have a basic understanding of Original Medicare and how it will cover you. Yet, you might ask, “how do you enroll in Original Medicare”?
It is important to note that most Americans will be automatically enrolled in their Part A “hospital insurance” once they reach the age of 65. However, to enroll in Part B, you must contact the Social Security Administration. Individuals can also enroll online if they actively sign up for both Parts A and B at the same time.
Due to the fact that you pay a premium for Part B coverage, you can choose to turn down the coverage. If you turn down Part B coverage but choose to enroll later, you may have to pay a higher monthly premium.
Steps to Enroll in Original Medicare:
- Automatic Enrollment: If you are already receiving Social Security benefits, you will be automatically enrolled in Medicare Part A and Part B when you turn 65.
- Manual Enrollment: If you are not automatically enrolled, you can sign up by:
- Visiting the Social Security Administration website
- Calling the Social Security Administration at 1-800-772-1213
- Visiting your local Social Security office
- Online Enrollment: You can also enroll online through the Social Security Administration’s website if you are signing up for both Parts A and B at the same time.
Important Considerations:
- Part B Premium: You will pay a premium for Part B coverage. If you choose to delay enrollment, you may face a higher premium when you decide to sign up later.
- Enrollment Periods: Be aware of the Initial Enrollment Period (IEP), General Enrollment Period (GEP), and Special Enrollment Period (SEP) to avoid late penalties.
- Online Enrollment: You can also enroll online through the Social Security Administration’s website if you are signing up for both Parts A and B at the same time.
Serving Multiple States
Fika Insurance Group, headquartered in Greenwood, South Carolina, and serving South Carolina, Georgia, and other states, is here to help you navigate your Medicare enrollment process.
Medicare Prescription Drug Plans (Part D) are essential for individuals looking to ensure comprehensive coverage while enrolled in Original Medicare. These private stand-alone drug plans are added to Part A and Part B (Original Medicare) and are administered by private health insurance companies. It is important to note that the federal government oversees these private plans to ensure they follow specific requirements.
If you are interested in getting enrolled in a Prescription Drug Plan, you have a few options, including:
- Adding a Stand-Alone Prescription Drug Plan (PDP)
- Adding a Stand-Alone Prescription Drug Plan (PDP)
See available plans in your area. Note, enrollment is subject to eligibility outside of the Medicare Annual Enrollment Period (AEP).
When Do You Need a Medicare Part D Plan?
- When you enroll in Medicare Part A and/or Part B: If you do not have other creditable prescription drug coverage, it is recommended to enroll in a Part D plan to avoid late enrollment penalties.
- During the Initial Enrollment Period (IEP): You can enroll in a Part D plan when you first become eligible for Medicare.
- During the Medicare Annual Enrollment Period (AEP): From October 15 to December 7 each year, you can enroll in or switch Part D plans.
- During Special Enrollment Periods (SEP): Certain life events, such as moving or losing other insurance coverage, may qualify you for a SEP to enroll in a Part D plan.
Serving Multiple States
Fika Insurance Group, headquartered in Greenwood, South Carolina, and serving South Carolina, Georgia, and other states, is here to help you choose the right Medicare Part D plan to meet your prescription drug needs.
Individuals who have chosen a Medicare plan are typically 65 years of age or older. If you are turning 65, it is important to remember the seven-month rule, which states that you have seven months to enroll in Medicare the year of your 65th birthday.
7-Month Period Summary:
- Starts: 3 months before the month you turn 65
- Includes: The month you turn 65 (Birthday Month)
- Ends: 3 months after the month you turn 65
If You Join:
- During one of the months before you turn 65: Your coverage begins the first day of the month you turn 65.
- During the month you turn 65: Your coverage begins the first day of the month after you ask to join the plan.
- During one of the 3 months after you turn 65: Your coverage begins the first day of the month after you ask to join the plan.
Special Enrollment Periods (SEP)
If you miss your Initial Enrollment Period, you may still be able to enroll during a Special Enrollment Period, especially if you have certain life events, such as losing your current health insurance.
General Enrollment Period (GEP)
If you did not enroll in Medicare during your Initial Enrollment Period, you can enroll during the General Enrollment Period, which runs from January 1 to March 31 each year, with coverage starting on July 1. However, you may face a late enrollment penalty.
Serving Multiple States
Fika Insurance Group, headquartered in Greenwood, South Carolina, and serving South Carolina, Georgia, and other states, is here to help you navigate your Medicare enrollment process.
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