Medicare FAQ | Schaefer Insurance Agency

Question 1

What is Medicare?

Accepted Answer

Medicare is a federal health insurance program primarily for people age 65 and older, as well as certain younger people with disabilities or specific conditions like End-Stage Renal Disease. It helps cover hospital stays, doctor visits, prescription drugs, and more.

Question 2

When can I enroll in Medicare?

Accepted Answer

Your Initial Enrollment Period (IEP) is a 7-month window that begins 3 months before the month you turn 65, includes your birthday month, and ends 3 months after. Enrolling on time helps you avoid late enrollment penalties.

Question 3

What are the different parts of Medicare?

Accepted Answer

Medicare has four main parts: Part A covers hospital and inpatient care. Part B covers doctor visits and outpatient services. Part C (Medicare Advantage) is an all-in-one alternative offered by private insurers. Part D covers prescription drugs.

Question 4

Is Medicare free?

Accepted Answer

Most people don't pay a premium for Part A if they or their spouse worked and paid Medicare taxes for at least 10 years. Part B has a monthly premium ($202.90 in 2026 for most people). Part C and Part D premiums vary by plan.

Question 5

What is the difference between Medicare Supplement and Medicare Advantage?

Accepted Answer

Medicare Supplement (Medigap) works alongside Original Medicare (Parts A & B) to help cover out-of-pocket costs like copays and deductibles. Medicare Advantage (Part C) replaces Original Medicare with a private plan that often includes extra benefits like dental, vision, and hearing. The right choice depends on your health needs, budget, and preferred doctors.

Question 6

Can I keep my current doctors with Medicare?

Accepted Answer

With Original Medicare and most Medigap plans, you can see any doctor who accepts Medicare nationwide. Medicare Advantage plans typically have networks, so it's important to confirm your doctors are in-network before enrolling. Marissa can help you check this before you choose.

Question 7

What is a formulary and why does it matter?

Accepted Answer

A formulary is the list of prescription drugs covered by a Part D or Medicare Advantage plan. Each plan has its own formulary, and your medications may be covered differently — or not at all — depending on the plan. Reviewing your medications against a plan's formulary is one of the most important steps in choosing the right coverage.

Question 8

What is the Medicare Annual Enrollment Period?

Accepted Answer

The Annual Enrollment Period (AEP) runs from October 15 to December 7 each year. During this time, you can switch Medicare Advantage plans, change your Part D drug plan, or move between Original Medicare and Medicare Advantage. Changes take effect January 1.

Question 9

Is there a cost to work with Marissa?

Accepted Answer

No — Marissa's services are completely at no cost to you. As a licensed insurance agent, she is compensated by the insurance carriers, not by her clients. You get personalized, expert guidance with no obligation.

Question 10

What areas does Marissa serve?

Accepted Answer

Marissa is based in Michigan and primarily serves clients throughout the state. She offers in-person meetings as well as phone and virtual appointments for your convenience.

Question 11

What insurance carriers does Marissa work with?

Accepted Answer

Marissa works with multiple carriers in Michigan and compares options across plans to find the coverage that best fits your individual needs, budget, and preferred doctors. Contact Marissa directly to learn about the plans available in your area.

Question 12

What happens after I enroll in a plan?

Accepted Answer

Marissa doesn't disappear after enrollment! She provides year-round support — helping you understand your benefits, navigate billing questions, communicate with your insurance company, and review your plan each year during the Annual Enrollment Period.

Medicare Questions, Answered

Medicare Basics

Choosing a Plan

Working with Marissa

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