Medicare is a multi-faceted program, with distinct parts addressing your various healthcare needs. At its core, it’s a triad: Part A covers hospital care, Part B pertains to medical coverage such as doctor visits, and Part D manages your prescription coverage. It seems straightforward, but the reality is a complex maze we at Key Retirement Solutions are here to help you navigate.

If you or your spouse have a record of working and paying taxes for 40 quarters (10 years), your Part A coverage usually has no charge. Still, a considerable deductible is applicable each time you’re hospitalized – a cost you might bear up to 5 times a year.

Part B, on the other hand, levies a fee taken directly from your social security check each month, determined by your income from the past two years. For 2022, the starting monthly fee is $170.10, with an annual deductible of $233 and an 80/20 cost split (wherein you’re responsible for the 20%, with no cap on the maximum amount). It can be a challenging cost to manage, but don’t fret; we’re here to ease your burden.

At Key Retirement Solutions, we offer tailored, affordable supplement plans to cover your “20% portion”, providing relief from the uncapped costs of Part B. We aim to create a simple, cost-effective solution tailored to your budget, offering benefits that often surpass your existing work coverage.

Part D, the prescription component, is crafted uniquely for each client based on their specific medication requirements, reviewed annually with our dedicated customer service agent.

Then, there’s Part C, the mysterious element of Medicare often mentioned but rarely understood. Part C is essentially private insurance as part of Medicare. Most Part C plans (also known as Medicare Advantage plans) don’t require an added premium and even include the prescription plan! The Part B premium you pay goes directly to the private insurance company we help you select, allowing Medicare to step aside as you deal directly with your chosen company. A thrilling option, wouldn’t you agree?

However, bear in mind that Part C may require copays when you visit doctors or hospitals. But worry not; we have strategies to help offset these costs. While you may encounter a higher Maximum Out of Pocket (MOOP) expenditure, depending on your unique situation, this could still be your best choice.

At Key Retirement Solutions, we’re more than insurance providers; we’re experts, companions, and guides, forging relationships rooted in our core values of accountability, service, integrity, and compassion. We’re here to ensure your retirement journey is not only safe and secure, but also joyous and fulfilling. With our wealth of experience and access to a wide range of insurance companies, we can customize solutions that perfectly suit your needs.

With more than 6,000 clients whom we’ve successfully assisted with Medicare and retirement, we invite you to become part of our family. Schedule a consultation with us today, and let’s ensure you’re on the plan that is indeed the best fit for you. After all, your secure retirement is our key objective.