MEDICARE & PRESCRIPTION DRUG COVERAGE
We Are Committed to Protecting Your Health with the Right Coverage.
WHY OUR AGENCY CAN HELP YOU MAKE THE RIGHT MEDICARE PLAN FOR YOU NEEDS
We can’t stress enough the importance of not only choosing the right Medicare plan for your specific needs but also choosing the right agency. With Owen Insurance Group, you will have an ‘Agent for Life’ who you can always count on to be there for you, long after you’ve made your Medicare choices.
CONFIDENCE & CLARITY
It’s very important to work with an independent agent and/or independent brokerage agency that can provide over confusion who can be your GUIDE through the complicated and sophisticated insurance planning process.
There is not a “one-size-fits-all” type of Medicare plan so be sure to work with a local Medicare professional.
UNBIASED & STRESS-FREE PLANNING
Navigating through the complicated and complex Medicare maze can be very frustrating and confusing for most Americans and it doesn’t help with Medicare laws and plans constantly changing. We provide stress-free, unbiased, professional and easy to understand Medicare planning in a comfortable and confidential setting and we do not charge for our professional services.
It’s important to make the right choice the first time (when you get your Medicare) because the decisions you make today could last you a lifetime.
“I have found this company extremely reliable and trustworthy. Mr. Owen has gone out of his way to bring me the best possible information regarding policy coverage comparisons re. co-pay, premiums, etc."
Frank E. K. , Palm City FL
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MEDICARE ELECTION PERIODS
There are numerous Medicare election periods and each of them serving a different purpose when it comes to signing up for benefits. The two common periods below illustrate the difference between the two periods that sound similar. The Initial Enrollment Period (IEP) and the Initial Coverage Election Period (ICEP) may potentially overlap, making them easy to confuse.
Initial Enrollment Period (IEP)
The Initial Enrollment Period (IEP) refers to the first time an eligible person can enroll in the federal Medicare program. It’s a period that starts three months before the month of your 65th birthday, continues through your birth month, and lasts for three months after it. Signing up for Medicare during your IEP is one way for you to avoid any late-enrollment penalties.
Most people are enrolled automatically ahead of their 65th birthday, but the IEP is the first time people can enroll manually if they have to. You also have the option of enrolling in a stand-alone Medicare Prescription Drug Plan at this time, as long as you are entitled to Medicare Part A or enrolled in Part B.
Initial Coverage Election Period (ICEP)
This is the first time a newly eligible person can enroll in a Medicare Advantage plan (also called Medicare Part C). Medicare Advantage plans are sold through independent insurance companies and must provide at least the same amount of coverage as Original Medicare, Part A and Part B. In order to “activate” your Initial Coverage Election Period (ICEP), you have to be enrolled in both Medicare A&B. The ICEP can run parallel to the Initial Enrollment Period, if you enroll in both Medicare Part A and Part B when you are first eligible. Because you must pay a monthly premium for Medicare Part B, you can opt out of this coverage during your Initial Enrollment Period; however, this prevents you from enrolling in a Medicare Advantage plan.
If you choose to enroll in Medicare Part B at a later date — for example, during the General Enrollment Period (January 1 – March 31), then your Initial Coverage Election Period won’t begin until then. When you do enroll, the Initial Coverage Election Period will only be the three months prior to your Medicare Part B effective date. For example, if you enroll in Medicare Part B during the General Enrollment Period, it will be effective July 1 of that year. Your Initial Coverage Election Period to enroll in a Medicare Advantage plan would be April 1 through June 30.
If you get disability benefits from the Social Security Administration (or certain disability benefits through the Railroad Retirement Board), your Medicare coverage begins on the 25th month of benefit receipt. Your Initial Coverage Election Period begins 3 months before the month your Medicare Part A and B coverage takes effect, and ends 3 months after the month of eligibility. For example, if your 25th month of disability is June, your Medicare Part A and Part B become effective June 1, so your Initial Coverage Election Period will be March 1 – September 30.
Whether you want to know when you become eligible to enroll in a Medicare plan or if you have other questions that you need help answering, we’re always happy to help you get answers.
Top 10 Medicare Questions
Watch Gary Owen's conversation with Medicare expert Jackie Colucci and find answers to the most important issues facing those who need help making decisions about Medicare.
MEET THE OWEN INSURANCE TEAM
Your Best Health Coverage is Our Mission
A locally owned and operated agency with a dozen years of experience, Owen Insurance Group is one of the most premiere Life and Health insurance agencies in the state of Florida. We deliver personal and friendly service, have the experience you need in an agency, and offer complementary and confidential consultations. We are proud members of the National Association of Health Underwriters (NAHU), the Better Business Bureau (BBB), and the Chamber of Commerce. Click here to meet out team!