We are now located at 413 14TH Ave W Kirkland WA 98033. We are in the Kirkland Financial Center, just off of Market Street, about a mile from Downtown Kirkland.

In addition to our offices, the Kirkland Financial Center also is the location for an office of Financial Services International Corp. Tim and Shaun at FSIC are experienced advisors in the financial planning, investment, and insurance fields. Visit them online at https://www.fsic.com

Stop by and visit us today!

On the Red, White, and Blue Medicare card, Part A is listed as “Hospital.” Think of it as your basic insurance for the services provided in a hospital building. It includes critical access hospital, hospice, skilled nursing facility, and emergency services. When a physician generates a bill for any of these services, Part A of Medicare is what pays for them.

Part B is listed as “Medical” on the Medicare card. You can basically think of it as coverage for doctor’s office services. It also does cover for medical equipment like oxygen, and for certain medications as long as they are infused drugs administered in a hospital setting (such as a Morphine Drip). When a doctor generates a bill for anything related to these types of services, Part B it the benefit that pays those bills.

Some people may think that Part A and Part B are all they need. Though it is legal, its not a particularly wise idea to have no other coverage. The reason is that Part A and Part B do not cover everything. If you only have Part A for example, you will need to satisfy a deductible of $1,132 each time you are hospitalized and then pay 20% of your bills after that. If you only have Part B, you will pay an annual deductible of $162 and then 20% of your bills from the doctor’s office after your deductible is satisfied. With hospital and doctor’s bills frequently totalling tens of thousands of dollars, there is a lot of liability that you are leaving yourself open to, by only having Original Medicare. This is the reason that most seniors will choose to purchase some additional coverage.

There are two main varieties of insurance policies available for purchase; Medicare Supplement plans (sometimes referred to as “Medigap policies”) and Medicare Advantage plans. These two types of insurance work differently from each other, and in the next post we will dive into how they work and the benefits of each.

As always, this information can be difficult to wade though on your own. Give us a call at (425) 232-5982 if you have any questions or wish to schedule a one-on-one consultation with our staff.

Medicare can become active as of the first day of the month of your birth (e.g. Born on June 15th, Medicare will start on June 1st). If you are carrying insurance on your own, you will definitely want to keep your individual medical insurance plan active until the last day before you can start Medicare. At that point you will want to terminate your individual plan and transition onto the Medicare system.

If you are covered under an employer’s plan, you will have a decision to make. Should you stay with the employer’s coverage? Or perhaps get off of the group plan and get onto Medicare? This is part of the process where going over all of your coverage options and speaking to a professional are vitally important. You should never enroll in something without understanding the full implications of doing so.

Your Red, White& Blue Medicare card should automatically come in the mail about three months before your 65th birthday. It will have your name, Medicare claim number, and starting dates for Medicare printed on it. Medicare comes in two parts, Part A and Part B. If you choose to stay with your employer coverage after your 65th birthday, make sure to notify Social Security, and tell them to defer your Part B enrollment. You will then be able to activate the Part B later on down the road when you are no longer covered under your work benefits. The Part A will automatically start: Everyone begins Part A when they first turn 65 years old. Together, Parts A and B are called “Original Medicare” and they constitute the basic building blocks that the rest of the Medicare system is structured around.

Stay tuned for the next entry! We will be going over the specific benefits of what Parts A and B cover, as well as which types of insurance plans are available for purchase in Washington State.