1. The ABC’s of Medicare and Social Security Presented by: Sandra Callahan, ChFC, CLU, MBA, Rooney Insurance Agency Inc.

2. Part A- Hospital Insurance Inpatient Hospital Care Inpatient Hospital Care Skilled Nursing Facility Care Skilled Nursing Facility Care Home Health Care Home Health Care Hospice Care Hospice Care Do you have to apply for Part A? Do you have to apply for Part A? No cost for Part A No cost for Part A When is Medicare primary? When is Medicare primary?

3. Part B-Medical Insurance Doctors Services Doctors Services Outpatient Medical Services Outpatient Medical Services Penalty Can Apply For Late Enrollment-10 percent per year Penalty Can Apply For Late Enrollment-10 percent per year When should you apply for Part B? When should you apply for Part B? Approximate Cost of Part B Approximate Cost of Part B

4. Part C- Medicare Advantage Plans Also Called Medicare “Replacement” Also Called Medicare “Replacement” Set network of providers (HMO or PPO) Set network of providers (HMO or PPO) Alternative to Original Medicare A&B Alternative to Original Medicare A&B Plans may or may not have drug coverage Plans may or may not have drug coverage Medicare Advantage Disenrollment Period- January 1- February 14-(return to original Medicare)

5. Part D Drug Coverage Enroll when Medicare Eligible Enroll when Medicare Eligible Coverage stand alone (PDP)or combined with Part C (MAPD) Coverage stand alone (PDP)or combined with Part C (MAPD) Penalty for non-compliance (1 percent per month) Penalty for non-compliance (1 percent per month) Coverage offered by commercial carriers; plans and formularies driven by CMS-Enroll10-15-12-7 Coverage offered by commercial carriers; plans and formularies driven by CMS-Enroll10-15-12-7

6. Social Security Early Retirement payment at age 62-full retirement age based Early Retirement payment at age 62-full retirement age based If drawing social security when turning 65-automatically enrolled in Medicare-if not need to apply If drawing social security when turning 65-automatically enrolled in Medicare-if not need to apply Part D premiums can be deducted from social security Part D premiums can be deducted from social security If not drawing-Part B quarterly If not drawing-Part B quarterly

7. Medicare Supplements Medicare Supplements Designed to work with traditional Medicare and pay most of what Medicare doesn’t pay Designed to work with traditional Medicare and pay most of what Medicare doesn’t pay Plan A for disability Plan A for disability Plan F most popular Plan F most popular Offered by major carriers Offered by major carriers Does not have Part D Does not have Part D Some offer foreign travel coverage Some offer foreign travel coverage Medicare pays nothing out of the country Medicare pays nothing out of the country

8. Thank You! Questions? Questions?