MY TWO BEST CLIENTS
- Ben Murray
- Nov 22, 2023
- 3 min read
Updated: Aug 27, 2024
If you would have told me 5 years ago that today I would be a self-employed, fully-licensed, independent insurance broker/agent, with a passion for helping others with their Medicare journey, I wouldn’t have believed you. I'm also the son of Jim & Rita, my two most important clients.
I’ll be honest, I didn’t know ANYTHING about my parents’ healthcare plans until I became an insurance agent. I’d always assumed they had it under control and knew what they were doing. And they did, for the most part. However they’d never reviewed their plans they had chosen and kept since they turned 65.
Most of us are used to being on the same insurance plan as our spouse when the family has coverage through our employee benefits, but with Medicare the same plan doesn’t always fit both individual needs. This was the case for my parents.
Both Jim and Rita started their Medicare journey with Original Medicare, adding “Medigap” Supplement Insurance plans to help for the 20% coinsurance payments, since the government only covers 80% of hospital (Part A) and doctor (Part B) bills. They also picked the same drug plan (Part D) through the same carrier their supplement plan was through.
For 5 years, they remained in their plans, unaware that they had the option to switch.
Medicare plans change every year, and so can your health, so it is important to review your plans, think about what needs you have, and compare ALL your options annually.
After an open discussion about their healthcare needs, hearing their concerns, answering their questions, and educating them a bit on Medicare and it’s different paths, we began a “Medicare Checkup.”
We reviewed their individual plans, confirming their list of prescriptions, and then compared their options to all the available plans in their area to see if there was a different route that would save them money and provide more coverage and benefits. There was.
Jim decided to stay with his supplement plan, but I was able to switch his to a Part D drug plan with a different carrier that saved him $1000 a year!
UPDATE: My father passed away in January 2024 after battling prostate cancer for 19 years. His Medicare Supplement plan covered all his hospital and doctor bills (after his Medicare Part A & B deductible was met) and his chemo medication was approved and covered through his Part D prescription plan. When he decided to cease treatment he switched to Hospice care, which is covered for everyone on Medicare.
Rita decided to switch to a Medicare Advantage plan to save money and provide additional benefits not included in Original Medicare, like dental, vision, hearing… and she didn’t mind the spending allowance the plan included for groceries & OTC items.
They have stayed with the same plans for a couple years now, because even with the changes in their plans, they still continue to be the best options. But we check every year! And so should you.
Tell someone you trust like a close friend or family member outside the home about your healthcare plan and your concerns. Decisions about your health and healthcare should ALWAYS be an individual choice, but having someone who cares about you know about it is okay and important.
If you’d like me to help you or someone you care about figure out the best Medicare route, please reach out to me TODAY! -> CONTACT BEN <-
