How Medicare Advantage works:

● Provided by insurance companies that are approved by Medicare.
● The health plan will pay for your services not Medicare. You are still in Medicare; it is just a different way of getting Medicare benefits.
● Medicare Advantage plans are sometimes called (Part C) or MA plans.
● Can be similar to HMO (Health Maintenance Organizations) or PPO (Preferred Provider Organizations) that you may have carried in the past.
● Combine your Medicare Part A, Part B and Part D coverage into one convenient plan.
● Includes coverage that goes beyond Original Medicare such as prescription drug coverage, possibly dental, vision, hearing, fitness benefits and sometimes more.
● To be eligible, you must have both Medicare Part A & B, you must continue to pay your Medicare Part B premium (unless paid for by another third party or Medicaid.)
● You must live in the plan’s service area.
● Affordable premiums with predictable Co-Pays when utilizing services.

Changes to Medicare Part D Due to the Inflation Reduction Act (IRA) of 2022

Starting in 2025, the Medicare Part D prescription drug stages will undergo important changes that affect out-of-pocket costs for members as they progress through these stages.

1. Deductible Stage
Some plans may have a deductible for certain tiers of medications, while others may not.

2. Initial Coverage Stage
During this stage, the insurance provider begins covering a portion of the member’s prescriptions. Members will be responsible for a copay or coinsurance based on the medication’s tier. For medications with coinsurance, the member’s share may vary throughout the year depending on the specific drug and the pharmacy used. Once a member’s total out-of-pocket drug costs reach $2,000, they will transition to the catastrophic coverage stage.

3. Catastrophic Coverage Stage
In this stage, members will not pay anything for their covered medications. After reaching the $2,000 threshold in out-of-pocket costs, members will enjoy full coverage for the remainder of the year.

Important Note: As of 2025, the coverage gap (often referred to as the “donut hole”) will be eliminated, providing more predictable and manageable drug costs for members.

RLG Financial Concepts offers Medicare Advantage Plans through the following companies:

• Highmark
• Humana
• United Health Care/AARP
• UPMC

How Medicare Supplement works:

● Medicare Supplement plans are offered by private insurance companies. They are designed to cover the deductibles and coinsurance of Original Medicare. There are a variety of (standardized) plan designs with each carrier ranging from plan A-N.
● Medicare Supplements will usually have less cost sharing but as a result they will generally have a higher premium than a Medicare Advantage Plan but will have much less cost sharing when receiving medical services.
● Medicare supplements are readily accepted by doctors and hospitals that accept Medicare in any state.

RLG Financial Concepts offers Medicare Supplement Plans from the following carriers:

• Mutual of Omaha
• Humana
• Highmark
• United Health Care/AARP

How Part D Drug Plans Work:

• Medicare Part D is an optional program that provides Insurance coverage to help you pay for prescription drug costs.
• Offered by private Insurance companies and are based on guidelines provided each year by the Centers for the Medicare and Medicaid (CMS.)
• Plans are similar but may vary in premiums, co-pays and formularies.
• Can be purchased as a “stand alone” or through a Medicare Advantage plan that covers both Medical services and prescription drugs.
• To be eligible, you must have Medicare A and or B.
• A Part D late penalty could be added to your Part D premium if at any time after your initial enrollment period is over that 63 or more days pass when you did not have Part D or other creditable prescription coverage. If you have a limited income and qualify for Extra Help you don’t pay a late enrollment penalty.

RLG Financial Concepts offers Prescription Drug Plans for the following carriers:

In today’s turbulent financial markets people who are in retirement or approaching retirement are concerned about safety and protection of their money.

For instance, many annuities offer:

· Tax Deferred Growth
· Potential for Higher Yields
· Premium Bonuses
· Avoidance of Probate Delays and Costs
· Potential Advantages for Social Security Taxation

RLG Financial Concepts offers:

Life insurance is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person. Depending on the contract, other events such as terminal illness or critical illness can also trigger payment.

RLG Financial Concepts offers:

• NSS Life 
• Protective Life 
• Transamerica

About a major risk to you and your family’s financial, physical and emotional well being? Are you aware of the risks associated with needing Long Term Care?

LTC Companies we offer: