Medicare expert Matthew Bussard gives his take on what cost-sharing looks like in a Medicare Part D or Medicare Advantage plan.
May 4, 2021 /MarketersMedia/ —Matthew Bussard is an expert ready to answer inquiries from seniors considering enrolling in Medicare. His passion for his line of work and drive to make a difference in his clients’ lives make him the go-to financial service broker for Medicare users across Rhode Island.
The dedicated broker opens full availability for his clients to assist with handling initial Medicare enrollment, leveling up to better healthcare plans, billing, finding a new service center, and more. As a broker, Bussard cares deeply about establishing trusting relationships and long-term service.
Matthew Bussard completely grasps how important proper healthcare is for those at any age, especially those sixty-five and older. One of his priorities is to do his best to address his clients’ problems as quickly and proactively as possible.
A critical topic that Bussard finds his clients asking him about frequently is cost-sharing in Medicare Part D or Medicare Advantage plans. According to the Centers for Medicare and Medicaid (CMS), the definition of cost-sharing is the total amount of money that an individual pays for health care and prescriptions. Coinsurance, co-payments, and deductibles can be included in cost-sharing.
Coinsurance is the fixed percentage of the total amount that a person pays for prescription drugs or healthcare coverage. For example, a drug might have a retail price of a certain amount, but a coinsurance grants an individual only to pay a certain percentage of that retail price.
Co-payments define the set amount a patient will pay for prescription drug coverage or healthcare. An individual will have a co-payment of a fixed cost upon visiting a Primary Care doctor or buying a specific tier drug that is labeled generic.
A deductible is an amount someone pays out-of-pocket before their Medicare coverage begins to set in and provide assistance. All Medicare plans are required to tell Medicare users what they will pay for cost-sharing. Cost-sharing amounts can be found on a plan’s Annual Notice of Change letter (ANOC) or Summary of Benefits document.
For more information about Matthew Bussard, additional questions revolving around cost-sharing in Medicare Part D or Medicare Advantage plans, or to schedule a consultation, visit his website at https://www.matthewbussard.com/.
About Matthew Bussard
Matthew Bussard is a financial services broker offering support to Medicare users in Rhode Island. He is passionate about creating a difference in his clients’ lives by helping them enroll in Medicare with professionalism and care. Bussard volunteers with Medicare recipients at Oak Street Health Clinics, providing efficient, continual guidance to clients every step of the way. Matthew also participates in various charitable activities, including The Hunger Project, the MDRT Foundation, local clean-ups, and little league coaching. He donates to local charities and makes a difference in his community in every way possible.