FAQs

Initial Enrollment Period (IEP) is the 7-month period when someone is first eligible for Medicare. This is when you should enroll in Medicare Part A and Part B (or defer with a form if you have viable coverage through an employer or spouse). This period begins 3 months before you turn 65, and includes the month you turn 65, and ends 3 months after you turn 65. So the deadline to enroll without penalties is at the end of the third month after you turn 65 but we highly recommend you enroll in the 3 months BEFORE you turn 65.

It is important to enroll during this time because you will pay a penalty if you go any period of time without full coverage AND you are guaranteed insurance without underwriting (medical questions and tests from the insurance company).

To enroll in Medicare (or defer), visit https://www.ssa.gov/medicare/sign-up or visit your local Social Security office. If you still have questions about enrollment or are interested in adding a Medigap, prescription drug plan or changing to a Medicare Advantage plan, give us a call at 405.215.9656.

I recommend that people sign up for Medicare Part A when they turn 65- even if they are still working with full insurance. Here’s why: The Part A premium for most people is $0. It does give you additional coverage for a hospitalization. In addition, you receive your Medicare number. This can be important if you need to move quickly onto Medicare due to a change in your employment or current coverage.

I do not recommend signing up for Part B if you are still on your employer plan because you will have to pay the monthly premium for Part B BUT each situation is different so you can call us if you have questions or your local Social Security office.

If you are on an employer health plan, you can stay on that plan until you or your spouse retire without any penalties because you have full coverage. (NOTE: for this to count as full coverage, your employer must have at least 20 full-time employees. Also, COBRA does not count as full coverage.) Another thing to consider weather you enroll at 65 is your total out of pocket costs on your employer plan - it is often a better deal to change over to Medicare.

Technically, you do not have to have a RX Part D plan BUT there is a penalty if you don’t enroll in one when you are first eligible. The penalty is 1% of the national premium average for every month you don’t have coverage and it is life long. So, in the long run, it makes sense to at least get a cheap one to avoid penalties.

Another reason I strongly recommend our clients get a Rx plan. #1 – If you are injured or have an infection, you’re going to need medications and you’ll want to have a Rx plan because prescriptions can get expensive real quick! #2 – If you are diagnosed with a serious illness early in the year, the rest of the year will be an expensive one for you without a Rx plan.

On top of that, you can get a Part D plan at a very reasonable price. And as we get older, it just makes sense to plan for potentially needing a prescription medication at one point or another.

Absolutely! Most people don't realize that they should be reviewing their plan every year with an advisor. Here's why: Supplemental plan coverage and benefits are strictly regulated by CMS. This means that every "type" of supplement plan (for example all plan G), no matter what company it is from, has the EXACT same coverage and benefits! The only difference is the price you are paying! At SMA, we are able to shop 15+ top rated insurance companies to find you the best rate without ANY change in benefits or coverage. On top of that, we simplify the process of changing to make it quick and hassle-free!

Call us today to get your free quote to see how much you are overpaying!

In the spirit of transparency, t's important for you to understand how we are compensated for our services. When you enroll in a Medicare plan with us, we receive a commission directly from the insurance company. This flat commission comes at no extra cost to you and does not impact the price of your insurance plan at all. So, weather you go through the hassle of learning about Medicare, then finding yourself a plan and doing the complicated enrollment yourself or we do it all for you, you will pay the SAME price for the plan you choose. Ultimately, your trust and satisfaction are our top priorities, and we are committed to helping you navigate the complexities of Medicare to ensure you have the coverage you need at the price you deserve.

Firstly, we are an Oklahoma owned and operated company and we love helping our fellow Oklahomans! And being local means we understand the local medical landscape. This allows us insight that larger, out-of-state corporations don't have while also providing a local, personalized service.

Second, choosing to work with us means gaining access to personalized and comprehensive assistance tailored to your unique needs. Unlike many Medicare insurance agents, we are independent. This means we are able to shop MANY different A+ rated insurance companies to find you the best price. You will also gain access to year-round customer support and yearly reviews to make sure you are getting the right coverage for your needs.

Bottom line, your peace of mind and confidence in your Medicare plan are our top priorities. By choosing to work with us, you can trust that you're receiving unwavering support and unbiased recommendations.

There is always a lot of confusion about what you can and can’t do and when you can do it. The Annual Enrollment Period (AEP), also known as open enrollment, is October 15 to December 7. This is the time when you can:

• Change from a Medicare Advantage plan back to Original Medicare

• Change from Original Medicare to a Medicare Advantage plan

• If you already have a Medicare Advantage plan, change from one Medicare Advantage plan to another Medicare Advantage plan

• Add or change a prescription drug plan (PDP)

Now if you are on Original Medicare with a supplemental plan and want to change from one supplemental plan to another, you can do that at any time of the year. In other words, the AEP dates restrictions only apply to Medicare Advantage and Part D prescription plan changes.

Also note, Medicare also has special enrollment periods (SEP) that allow people to make changes to their plans throughout the year for certain life situations. Because of this, if you want to make changes and you are outside of the October 15 - Dec. 7 window, we always recommend you giving us a call to see if you don’t qualify for a SEP.

If all this is still confusing, we get it. Just give us a call and we will help you out the who, when and how’s of it all.

If you’re already in a Medicare Advantage plan and you want to switch to traditional Medicare, you should call 1-800-MEDICARE (1-800-633-4227) and ask an agent to help you dis-enroll from your current Medicare Advantage plan and enroll in original Medicare. Agents are available 24/7, except during a few federal holidays.

Note there are specific enrollment periods each year to do this. The first period when you can switch from your Medicare Advantage plan to traditional Medicare is during the Medicare Open Enrollment period that runs October 15 to December 7. When you make the switch back to traditional Medicare during the Medicare Open Enrollment period, the change will take effect on January 1 of the following year. The second period is during the Medicare Advantage Open Enrollment Period that runs from January 1 to March 31, and coverage will start the first of the first month after the plan gets your request. If you switch to traditional Medicare and you want prescription drug coverage through Medicare, you will also need to sign up for a stand-alone prescription drug plan (PDP) for your drug coverage. If you do not, and you decide to sign up for Part D coverage later on, you may face a penalty for late enrollment.

When you switch to traditional Medicare, you may also want to consider purchasing a Medicare supplemental insurance policy, known as Medigap. Medigap policies help to pay the deductibles and 20% coinsurance that Original Medicare doesn't cover. To find you a plan that fits your needs, we search over 20 different national insurance companies to find you a plan that works best for your financial and medical needs. While we cannot help you dis-enroll from your Medicare Advantage plan, once you are back on original Medicare, we can help you find and enroll in a prescription drug plan (PDP) and /or a Medicare supplemental plan. Just give us a call, text or email for a help! 405-215-9656