Dave Silver Insurance

Unlike original Medicare, Medicare Advantage Plans offer many extra benefits. Before I get into the extra benefits, I would like to caution you. Many people may make their decision on coverage based on these extra benefits. You have to understand that these are health plans first. The plan you choose needs to make sense from a network stand point and must cover your prescriptions as affordably as possible. If both of these points are satisfied, than and only than does it make sense to understand and take advantage of the extra benefits that these plans provide.  If you just look at the extra benefits you can make a major mistake on your health and prescription coverage. Many of the Medicare Advantage Plans offer the following extra benefits: ***Part B Reimbursement : Some Medicare Advantage Plans in Florida provide a “Part B Reimbursement” each month. These plans will reimburse you a portion of your Part B premium each month.  In 2019, depending on where you reside, you ma...

If you have Medicare and are ready to retire, there a few things you need to know.  When people call me who are going through this they are worried about “penalties”.  In most cases the penalties do not apply. Some people will never apply for Medicare until they retire. In that case, you will assigned a retroactive Part A date (The 1 st day of the month you turned 65) and your Part B should start the first day of the month you will no longer be covered under your employer’s plan. A late enrollment penalty for Part B would only apply if you did not take Part B while you were working and the company you work for has under 20 employees. If this applies to you, you need to take Medicare Part B when you turn age 65. If you do not, you will be penalized 10% of your Part B premium each year you missed. If you go 5 years, than the penalty would be a 50% increase on your Part B premium.  This penalty will remain with you for as long as you live or as long as you maintain Part...