Our October 5th First Friday Networking at Noon event featured Frank LeVett, founder of HealthCare Planners, who talked about healthcare planning before Medicare starts, as well as different Medicare options.
What is Medicare?
Medicare is the traditional fee-for-service program offered directly through the federal government for people 65 and older. It has deductibles, co-insurance and out of pocket expenses, some with no caps. Medicare is divided into three parts – Part A (inpatient), Part B (outpatient), and Part D (prescription drug).
It is estimated that 30% of people with Medicare get their benefits from Medicare Advantage plans, sometimes called Medicare private health plans.
Medicare Advantage plan companies contract with Medicare and are paid a fixed amount to provide Medicare benefits. They are generally managed care plans. The most common types are:
HMO – Health Maintenance Organizations
PPO – Preferred Provider Organizations
PFFS – Private Fee for Service plans
MSA – Medical Saving Accounts
Frank LeVett Bio
Frank founded HealthCare Planners, Inc. (HPI) in 2005. His primary focus with HPI has been the Senior Markets in South Carolina, North Carolina, Georgia, and other states for more than 27 years. Frank sold his first Medicare Supplement in 1989, and was hooked on the senior market. This segment of the market is constantly changing and keeps him engaged. Off hours you may find Frank enjoying time his wife Jody, children and 5 grandchildren, or improving his game on the golf course.