Empower Brokerage

Health insurance of any kind can be confusing, Medicare particularly so. There are options for coverage applying to hospitalization, prescriptions, and outpatient treatments, which creates numerous questions. Is my medication covered? Is this the best plan for me? How often do I have to re-enroll? When is the best time to start Medicare coverage? Will I have to change doctors? The list grows longer and longer.

What if there was a place to go where highly trained experts learned your situation, your needs, your specific health challenges, and helped you find the best coverage? That place exists and it’s called Empower Brokerage.

For 54 years Empower Brokerage has been helping consumers find the highest quality insurance options. Established in Fort Worth in 1972, Empower Brokerage is now one of the largest providers of Medicare programs in the U.S.

“Empower Brokerage stands as one of the 20 largest providers of Medicare programs in the country,” says Rodney Culp, owner. “We are an independent agency, and we represent most competitive insurance companies working in the field today.”

Medicare exists to provide healthcare coverage for Americans over age 65, younger folks with disabilities, and people with specific severe conditions. Before it was signed into law by President Lyndon B. Johnson in 1965, older individuals without healthcare coverage connected to a job often did not receive the care they needed or found themselves in dire financial conditions trying to pay for their healthcare.

The need for this type of program has become even more important. Some studies estimate that 20% of every dollar spent in the U.S. today goes to healthcare costs.

Medicare consists of four areas of coverage:

Part A covers hospitalization.

Part B covers outpatient care including doctor visits, home health care, durable medical equipment, and many preventive services like vaccines and wellness checks.

Part C includes optional coverage under a private entity. All health needs are bundled under one plan, often called a Medicare Advantage plan.

Part D covers prescription medications.

Annual open enrollment allows for those covered to change their individual plans each year and for those not yet part of the program to enroll.

There are numerous ways to mix and match these various types of coverage. Often finding what works for you and will provide what you need for your specific situation can seem like a healthcare nightmare.

“This year more than ever,” says Savva Zingas, regional sales director for the Dallas-Fort Worth Metroplex at Empower Brokerage, “it is vital for Medicare recipients to examine their coverage at open enrollment time, which begins October 15. There are significant changes in prescription coverage, deductible changes, Medicare Advantage changes, and more. You shouldn’t ever re-enroll without examining your plan, but this year that’s especially true.”

Empower Brokerage can connect clients with highly trained and licensed agents who make it their business to stay up to date on Medicare requirements, laws, and changes. These agents start by learning about your situation: which doctors you see, what medications you take, what chronic health conditions you may be dealing with. Then they go to work matching you with the best coverage for you.

One of these agents can match you with a Medicare supplemental plan that is designed for your needs, making sure that the plan includes your doctors and covers your prescriptions. Some plans are fashioned specifically for those managing diabetes, some for cardiovascular disease, some for kidney disease, and more.

Some plans are also specific to those on Medicaid, which is designed for low-income people, families and children, pregnant women, the elderly, and people with disabilities. Medicaid offers benefits, like nursing facility services, home health services, and assistance paying for Medicare premiums and other costs.

Most people sign up for both Part A (Hospital Insurance) and Part B (Medical Insurance) when they’re first eligible (usually when they turn 65). Generally, there are risks to signing up later, like a gap in your coverage or having to pay a penalty. However, in some cases, it might make sense to sign up later.

With 9,000 agents across the country in all 50 states, Empower Brokerage can connect you with an agent in your area. These local experts will know your hospitals, your doctors, your pharmacies, and understand the special conditions that make your situation unique.

Of course, one of the aspects your agent will help you consider is cost. Premiums are the monthly amount you pay for Part B, your Medicare Advantage Plan, Part D and/or Medigap coverage. Some people who don’t have work history may also pay a premium for Part A. Deductible is the amount you must spend before Medicare pays for your insurance benefit. For example, if you had a hospital stay covered under Part A in 2024, you would have to pay $1,632 before Medicare pays. You may have to pay a portion of the costs of a covered drug or service. This is called a copayment, or a coinsurance, sometimes called cost sharing.

Your agent will guide you through the various aspects that will impact what you pay, give you guidance on how to save and help you choose a plan that will offer the coverage you need at a cost you can afford.

Your Initial Enrollment Period (IEP) is the 7-month window around your 65th birthday. If you miss it and do not qualify for a Special Enrollment Period (such as having qualifying employer coverage) you may face delayed coverage, a Part B late penalty, or a Part D late penalty.

If you miss the Annual Open Enrollment Period (October 15- December 7) for those who already have Medicare you are automatically re-enrolled in your current Medicare Advantage or Part D prescription drug plan for the upcoming year and if your current plan raises its prices or changes its drug formulary for the new year, you are stuck with those changes until the next cycle.

Work with an Empower Brokerage agent who can help you make sure you have the coverage you need for your specific situation at a cost you can live with.