MySavoyBenefits Medicare  
NEED HELP? CALL 833.600.6727
(TTY/TDD: 711) 9am - 5pm, Monday - Friday
|
|
 
Scroll Down
No worries. We've got this.
WELCOME. When it comes to finding your way around Medicare, sometimes it’s good to have help from a team of consultants. Whether it’s answering simple questions or working closely together to find the right match for a Medicare plan, as an independent broker working with multiple carriers, this is what we do.
From shopping to enrollment and everything in between – count on Savoy to be there for YOU.

WHAT IS MEDICARE? Medicare is a federal health insurance program for people who:
  • Are 65 or older
  • Are under age 65 with certain disabilities
  • Have End-Stage Renal Disease (ESRD) (permanent kidney failure requiring dialysis or a kidney transplant)
KNOW YOUR ABCs
Understanding The Different “Parts” Of Medicare
The Medicare program is divided into different “parts” often referred
to as Medicare Part A, Part B, Part C and Part D.
  Medicare Part A (Original Medicare)
Hospital insurance that helps cover:
  • Inpatient care in hospitals
  • Skilled nursing facility care
  • Hospice care
  • Home health care
Medicare Part B (Original Medicare)
Medical insurance that helps cover:
  • Doctor and specialist costs
  • Outpatient care
  • Home health care
  • Durable medical equipment
  • Many preventive services
 
 
Medicare Part A and Part B are often referred to as "Original Medicare."
 
 
Medicare Part C (Medicare Advantage)
A type of Medicare health plan:
  • Offered by private insurance carriers approved by Medicare
  • That includes all of your Medicare Part A and Part B benefits
  • May include Medicare prescription drug benefits
  • Durable medical equipment may be covered
  • May include benefits not available through Medicare Part A or Part B

Medicare Part D (Prescription Drug)
A type of Medicare health plan:
  • Offered by private insurance carriers approved by Medicare
  • That helps cover the cost of prescription drugs
  • That varies in cost and the specific drugs that are covered
 
  Please note: You also have the option of choosing a Medicare Supplement plan, also known as a Medigap policy. This type of plan can help pay some of your costs that Original Medicare doesn't cover, such as copayments, coinsurance and deductibles. See below for more details.  
CHOOSING A PLAN
What Are My Options For Coverage?
We understand that not everyone approaches their health insurance coverage from the same place.
Maybe cost is your biggest concern. Or, health issues may have you more focused on benefits.
That's why it's good to have choices.
Original Medicare (Part A and Part B)
Click to Collapse
 
Things to Know
Cost
Might Be Right for You If:
Your Medicare Part A (Hospital) and Part B (Medical) benefits
  • Under Original Medicare, the government pays directly for the health care services you receive
  • You can see any doctor or hospital that accepts Medicare
  • Prescription drug coverage is usually limited to medications administered in a doctor's office or outpatient setting
  • You can enroll when you first become eligible for Medicare
  • Most people don’t pay a monthly premium for Part A
  • You must pay a Part B premium
  • Part A and Part B generally pay for 80% of your covered costs
  • You have a limited budget and low healthcare needs
Medicare Advantage Plans (Part C)
Click to Expand
 
Things to Know
Cost
Might Be Right for You If:
Covers your Medicare Part A and Part B services and may include additional benefits like dental, vision and prescription drug coverage
  • You receive your benefits from a private insurance carrier
  • Many plans include prescription drug benefits
  • Your plan may have provider network restrictions
  • You can only enroll during certain times of the year
  • You must continue to pay your Part B premium
  • You may have to pay an additional monthly premium
  • You may have to pay a copayment or coinsurance for certain covered services
  • You want additional benefits not covered under Original Medicare
  • You want all of your benefits included in one plan
  • You want an annual limit on the total costs you're required to pay
Medicare Prescription Drug Plans (Part D)
Click to Expand
 
Things to Know
Cost
Might Be Right for You If:
Covers the cost of certain generic and brand name prescription medications
  • You receive your benefits from a private insurance carrier
  • You can enroll during certain times of the year
  • You pay an additional monthly premium
  • Some states may offer premium assistance if you qualify
  • You may have to pay a copayment or coinsurance for certain covered medications
  • You have Original Medicare and/or a Medicare Supplement plan and you want additional coverage for prescription drugs
Medicare Supplement Plans (Medigap)
Click to Expand
 
Things to Know
Cost
Might Be Right for You If:
Supplemental health insurance plans offered by private insurance companies that lower your out-of-pocket costs by paying a portion of covered services that Original Medicare leaves you to pay
  • You receive your benefits from a private insurance carrier
  • You can see any doctor or hospital that accepts Medicare
  • Plans are standardized — the benefits from plan to plan are the same from every insurance carrier
  • Plans do not include prescription drug benefits
  • You pay an additional monthly premium
  • Premium costs vary between insurance companies
  • Out-of-pocket costs can vary between plans
  • You have a flexible budget, want more freedom in choosing the healthcare providers you see and want coverage when you travel
READY TO SEE WHAT PLAN
OPTIONS SAVOY HAS TO OFFER?
Ready to see what plan options Savoy has to offer?
Pick the path to coverage that's right for you
 
Everyone wants to save money on their health insurance coverage. However, you also want to make sure you’re getting the right benefits for YOUR needs. Here are a few things to consider:
 
Important
tips when
choosing
a plan.
Important tips when choosing a plan.
Premium Cost vs. Total Cost

Cost goes beyond what premium you pay each month for your plan. In fact, sometimes lower premiums may mean higher out-of-pocket costs. Consider what you will pay out of your own pocket, including deductibles, copayments and coinsurance when you need care.

Doctor Choice

Is it important for you to be able to use the doctors and hospitals you want?
  • If you choose a Medicare Advantage plan, you may have network restrictions that limit your health care provider choices.
  • Certain plans may also require you to choose a primary care physician (PCP) to coordinate your care.
  • Check to make sure your current doctors will accept the new plan you want to enroll in.
Prescription Drug Benefits

Even if you don’t take many prescription drugs now, you should think about how your health needs may change in the future. It’s a smart choice to make sure you have coverage in place when you need it. And if you are already taking medications, make sure the plan you choose covers your current prescriptions. You may owe a Part D late enrollment penalty if at any time after your initial enrollment period is over there is a period of 63 days or more in a row when you do not have Part D or other creditable prescription drug coverage.

Travel

Do you spend time in another state? If so, make sure you consider a plan that doesn’t have network restrictions that could keep you from using your coverage when you travel.

Benefits

Does the plan you’re considering offer additional coverage beyond Original Medicare, including benefits for vision, dental or hearing care? Some plans also offer member extras, like special programs and discounts.

GETTING READY TO ENROLL
Getting Ready to Enroll
Scroll to see more


IF YOU'RE NEW TO MEDICARE:
 
 
 
Initial Enrollment Period (IEP)
You can initially sign up for Medicare during a seven-month window known as your "Initial Enrollment Period."

General Enrollment Period
If you didn’t sign up for Medicare when you were first eligible AND you aren’t eligible for a Special Enrollment Period (see below), you can sign up during the General Enrollment Period between January 1 and March 31 each year. You may only enroll in Original Medicare at this time.

Please note: You may have to pay a higher premium for late enrollment in Part A and/or a higher premium for late enrollment in Part B.

Special Enrollment Period (SEP)
If you didn't sign up for Part B (or Part A if you have to buy it) when you were first eligible because you're covered under a group health plan, based on current employment (your own, a spouse's, or if you're disabled, a family member's), you can sign up for Part A and/or Part B:
  • Anytime you’re still covered by the group health plan
  • During the 8-month period that begins the month after the employment ends or the coverage ends, whichever happens first
Medicare Supplement Open Enrollment (Medigap)
If you’re interested in a Medicare Supplement (Medigap) plan, your Open Enrollment Period is a six-month window that begins on the first day of the month in which you’re 65 or older and enrolled in Part B. (Some states have additional Open Enrollment Periods.)

IF YOU'RE ALREADY ON MEDICARE:
 
 
 
Medicare Advantage Annual Enrollment Period (AEP)
The Medicare Advantage Annual Period (AEP) runs from October 15 to December 7 each year. This is the time when you can make changes to your Medicare health plan and prescription drug coverage for the following year. Outside of this period, you cannot make changes to your Medicare coverage, unless you qualify for a Special Enrollment Period.

Please note: If you are already enrolled in a Medicare Supplement plan (Medigap policy), you can make changes at any time during the year.

Medicare Advantage Special Enrollment Period (SEP)
In certain situations, you may qualify for a Special Enrollment Period (SEP) where you can join, switch, or drop a Medicare Advantage plan or Medicare prescription drug plan. These situations include:
  • Changing where your live
  • Losing your current coverage
  • If your plan changes its contract with Medicare
  • If you’re eligible for both Medicare and Medicaid
If you’re uncertain about whether or not you qualify, give us a call at 833.600.6727, and we'll be happy to help.
Other exceptions and enrollment periods may apply, which are ultimately determined by Medicare.

MEDICARE GLOSSARY
Medicare Glossary
Scroll to see more


HERE ARE SOME COMMON TERMS YOU'LL SEE ALONG THE WAY
 
 
 
COINSURANCE
Coinsurance is usually a percentage of the cost for a service that you would pay. For example, if your coinsurance is 20% for covered services, your plan would pay 80% of the covered charges, and you would pay the coinsurance of 20%.

COPAYMENT
A fixed dollar amount you pay at the time you receive a covered service, such as a doctor’s office visit.

COVERAGE GAP (DONUT HOLE)
Most Medicare prescription drug plans have a coverage gap, which is also called the "donut hole." During this stage, you pay most of the plan’s discounted price for your medications. You enter the coverage gap when your out-of-pocket costs have reached a preset amount for your prescription drugs.

DEDUCTIBLE
An amount you must pay for covered services within a given year before the insurance company or Medicare begins to pay. For instance, if you have a $500 deductible, you must pay for the first $500 in covered medical expenses before your health plan pays.

EXCESS CHARGES
The amount a provider might charge you over the Medicare-approved amount.

FORMULARY
A list of covered prescription drugs along with their formulas, uses, dosages and methods of preparation.

GUARANTEED ISSUE RIGHTS
Rights you have in certain situations when insurance companies must offer you certain Medicare Supplement (Medigap) plans. In these situations, an insurance company must sell you a Medicare Supplement policy, cover all your pre-existing health conditions and can’t charge you more for a Medicare Supplement policy regardless of past or present health problems.

MEDICARE-APPROVED AMOUNT
This is the amount a health care provider can be paid for a service.

OUT-OF-POCKET MAXIMUM
The most you’ll have to pay for covered services within a certain amount of time (usually one year).

PREMIUM
The fixed amount you pay monthly for coverage. Depending on your health or prescription drug coverage, you may pay your premium to Medicare or a private insurance company.

PRIMARY CARE PHYSICIAN (PCP)
This is the doctor you see first for most health issues. Your PCP may coordinate your care with specialists and other health care providers to ensure you get the care you need to manage your health.
COMMON QUESTIONS
Common Questions
Scroll to see more


HOW DO I KNOW IF I NEED TO CHANGE MY MEDICARE COVERAGE?
Your personal situation may change from year to year, so it's important to review your coverage to make sure you still have the best fit for your needs. Some things you should consider:
  • Are you unhappy with your current coverage?
  • Have your health care needs changed?
  • Have your premium and/or out-of-pocket costs increased?
  • Can another plan offer you additional benefits and member extras?
DOES ORIGINAL MEDICARE (PART A AND PART B) COVER DENTAL AND VISION SERVICES?
Vision
Medicare doesn’t cover routine eye exams for eyeglasses or contact lenses. However, it will pay for some eye care services if you have a chronic eye condition, such as cataracts or glaucoma. Medicare Part A may cover vision care when the vision condition is considered a medical problem.

Dental
Medicare also doesn't cover most dental care, dental procedures, supplies, or other dental devices. Medicare Part A (Hospital Insurance) will pay for certain dental services that you get when you're in a hospital.

You do have options for dental and vision benefits. Call 833.600.6727 to learn more.

DO I REALLY NEED A PRESCRIPTION DRUG PLAN?
It’s no secret that prescription drug costs continue to rise. A Medicare prescription drug plan can be an important way for you to control your expenses. Remember too that your health care needs may change in the future. You may also risk a late enrollment period if you delay your enrollment (see below).

WHAT’S THE PART D LATE ENROLLMENT PENALTY?
The late enrollment penalty is an amount that's added to your Part D (Medicare prescription drug) premium. You may owe a late enrollment penalty if, at any time after your Initial Enrollment Period is over, there's a period of 63 or more days in a row when you don't have Medicare prescription drug benefits or other creditable prescription drug coverage.

Please note: If you qualify for extra help paying for your Part D plan, you won’t be charged a late enrollment penalty. However, if you disenroll from your plan, and then reenroll 63 days or more later and no longer qualify for help, you may be charged a penalty.

“Creditable prescription drug coverage” is coverage that is considered equal to or better than Medicare prescription drug coverage.

DO I HAVE TO BE ON THE SAME PLAN AS MY SPOUSE?
No. You enroll in a Medicare health plan on an individual basis.

DOES MEDICARE COVER LONG-TERM CARE?
Medicare doesn’t cover long-term care (also called custodial care). Medicare does cover:
  • Care in a long-term care hospital
  • Skilled nursing care in a skilled nursing facility
  • Eligible home health services
  • Hospice and respite care
HOW CAN WE HELP?
When it comes to choosing a Medicare health plan, we’re here to do all the legwork for you. As an independent broker, we work with multiple health insurance carriers, making it easy for us to match you with the plan that lines up best with what you’re looking for – from benefits to budget! All at no additional cost to you.

You can also look to us for complimentary, specialized Medicare guidance, so you'll have confidence in any plan decision you make. Count on a personalized experience that caters to the way you look for health insurance.
Want A Licensed Savoy Medicare
Consultant To Contact You?
Website Last Updated: 5/11/2018
MULTIPLAN_HM_18_59958a accepted 11/4/2017
Want To Speak With A Licensed
Savoy Medicare Consultant?
Call Now - 833.600.6727
(TTY/TTD: 711) 9am - 5pm, Monday - Friday
Want To Speak With A Licensed Savoy Medicare Consultant? Call Now - 833.600.6727
OUR CONTACT INFO
25B Hanover Road,
Suite 220
Florham Park, NJ 07932
833.600.6727
(TTY/TTD:711)
9am - 5pm, Monday - Friday
 
 
 
>>  Home
 
  
 
>>  Know your ABCs
 
>>  medicare.gov
 
>>  Choosing a plan
 
>>  healthcare.gov
 
>>  Legal
 
>>  Common questions
 
>>  Licensing
 
Facebook
NJ Better Business Bureau
By calling this number you will
reach a licensed insurance agent/broker
Attention: This website is operated by Savoy and is not the Health Insurance Marketplace website. In offering this website, Savoy is required to comply with all applicable federal laws, including the standards established under 45 CFR § 155.220(c) and (d) and standards established under 45 CFR § 155.260 to protect the privacy and security of personally identifiable information. This website may not display all data on Qualified Health Plans being offered in your state through the Health Insurance Marketplace website. To see all available data on Qualified Health Plan options in your state, go to the Health Insurance Marketplace website at HealthCare.gov.