We’re an Insurance Agency that specializes in Life and Health Insurance coverage for individuals and businesses. We can provide what best suits your needs because we are an independent agency not tied to any one carrier. Learn more about how insurance works below.

How Medicare Works

Centers For Medicare and Medicaid Services 2018 Guide to Medicare Medicare is the federal health insurance program for people over 65 years of age and people with certain disabilities or End-Stage Renal Disease (permanent kidney failure). There are four parts to Medicare:

  • Part A – Hospital Insurance
  • Part B – Optional Medical Insurance
  • Part C – Optional Medicare Advantage Insurance
  • Part D – Optional Prescription Drug Insurance

2018 Medicare Part A

Helps pay for care in hospitals, some skilled nursing facilities, hospice, and some health care. For most people, Part A is premium-free because they paid Medicare taxes.

Hospitalized Medicare Covers Individuals Pay
1-60 days Most confinement costs after the required Medicare Deductible. $1,340 deductible
61-90 days All eligible expenses, after the patient pays a per-day co-payment. $335 per day co-payment up to $9,990
91-150 days All eligible expenses except per-day co-payment. 60 Lifetime Reserve days may not be reused. $670 per day co-payment up to $38,640
151 days or more Nothing 100%
Skilled Nursing Confinement* All eligible expenses for the first 20 days, then all eligible expenses for days 21-100, after patient pays a per-day co-payment. $167.50 per-day (after 20 days). As much as $13,400

*Must be receiving skilled nursing care in a Medicare approved skilled nursing facility that begins within 30 days after hospitalization of at least 3 days.

2018 Optional Medicare Part B

Optional coverage to help pay for doctors, outpatient hospital care, and some other medical services not covered by Part A. The chart below shows the Part B monthly premium amounts based on income. These amounts change each year. There may be a late-enrollment penalty.

Single Individual Return Married Joint Return Individual Pays
$85,000 or less $170,000 or less $133.90*
$85,000 – $107,000 $170,000 – $214,000 $187.50
$107,000 – $160,000 $214,001 – $320,000 $267.90
$160,000 – $214,000 $320,001 – $428,000 $348.30
Above $214,000 Above $428,000 $428.60

* Most people will pay the Part B premium of $183.00 in 2018.

Medicare General Enrollment Period is from January 1 through March 31 of each year at a Social Security Administration office. Part B coverage will start on July 1 of that year. 
Special Part B Enrollment Periods – while covered by employer or union group health plan or within 63 days of the date when the employer or union group health plan coverage ends, or when employment ends.

Expense Medicare Covers Individuals Pay
Medical Expenses – Physician’s services for inpatient and outpatient medical/surgical services; physical/speed therapy, diagnostic tests 80% of approved amount $166 deductible plus 20% of approved amount
Clinical Laboratory Services – Blood tests, urinalysis Genarally 100% of approved amount Nothing for services
Home Health Care – Part-time or intermittent skilled care, home health aide services, durable medical supplies and other services 100% of approved amount, 20% of approved amount for durable medical equipment Nothing for services, 20% of approved amount for durable medical equipment
Hospital Outpatient – Hospital services for the diagnosis or treatment of an illness or injury Medicare payment to hospital, based on outpatient procedure payment rates 20% of approved amount, in all other cases co-payment based on outpatient payment rates

Part C Optional Medicare Advantage Plan Monthly

An alternative to traditional Medicare, Part C is another way to get Medicare benefits. It combines Part A, Part B, and, sometimes, Part D (prescription drug) coverage. Medicare Advantage Plans are managed by private insurance companies approved by Medicare. These plans must cover medically-necessary services. However, plans can charge different copayments, coinsurance, or deductibles for these services.

Part D Optional Medicare Prescription Drug Plan

This optional coverage may help lower an individual’s prescription.

Individual tax return Joint tax return Individuals pay
$85,000 or less $170,000 or less Your plan premium
Above $85,000 up to $107,000 Above $170,000 up to $214,000 $13.00 + your plan premium
Above $107,000 up to $160,000 Above $214,000 up to $320,000 $33.60 + your plan premium
Above $160,000 up to $214,000 Above $320,000 up to $428,000 $54.20 + your plan premium
Above $214,000 Above $428,000 $74.80 + your plan premium

Health Savings Account Contribution Limits

Plan 2018 2019
Contribution Limits $3,450 Single, $6,850 Family $3,500 Single, $7,000 Family
Minimum Deductible $1,350 Single, $2,700 Family $1,350 Single, $2,700 Family
Max out of Pocket (Includes Deductible) $6,650 Single, $13,300 Family $6,750 Single, $13,500 Family

* Catch Up Contribution age 55+ $1,000.

Tax Deductions For Long Term Care Insurance

Premium payments for a tax-qualified long-term care insurance policy are deductible as personal medical expenses for those taxpayers who itemize their deductions.

Age 2018
40 & Under $420
41 to 50 $780
51 to 60 $1,560
61 to 70 $4,160
71 & Older $5,200

Prices above are for individuals. Prices for couples would be twice those of the individuals. Deductions can be taken for individuals, their spouse and tax dependents (such as parents) and are subject to the same tax rules as traditional medial expenses (such as 7.5% adjusted gross income [AGI] floor).


Payments for a tax-qualified long-term care insurance policy purchased by a self employed individual or sole proprietor are currently treated as medical insurance premiums with the same limits as those for individuals taxpayers.


Premium payments for a tax-qualified [TQ] long-term care insurance policy are fully (100%) deductible as a reasonable and necessary business expense similar to traditional health and accident insurance premiums (IRC Sec 702B[a][3]).



Premium payments for policies purchased for a non-partner/non-owner or less-than-2% shareholder-employee are fully deductible as a reasonable and necessary business expense so long as the entity does not retain any interest in the policy. The same is true for their spouse or tax dependents.

IRA Fact Sheet

Year Max Contribution Catch-Up age 50+ Max Contribution with Catch-Up
2017 $5,500 $1,000 $6,500
2018 $5,500 $1,000 $6,500
  • Individuals age 50 and above can contribute a total of $13,000 jointly
  • Individuals cannot make an IRA Contribution during the year they turn 701/2. Note: If they wait until April 1, individuals must take two distributions during that year.

IRA Eligibility Limits

Tax Year Single Married Filing Jointly
2017 $62,000 to $72,000 $99,000 to $119,000
2018 $63,000 to $73,000 $101,000 to $121,000

* Please note there is no eligiblity limit for self employed individuals. The above tax charts are based on current IRS regulations and may be subject to future changes. Please consult your financial advisor.

Business Retirement Plan Contribution Limits

Plans 2017 2018
401(k) and 403(b) Plans $18,000 $18,500
SIMPLE Plans $12,500 $12,500
Catch-Up Contribution Amounts* (401(k), 403(b) SIMPLE Plans) $6,000, $3,000 $6,000, $3,000
Defined Contribution Plans Lesser of 100% of compensation or $54,000 Lesser of 100% of compensation or $55,000
Defined Benefits Plans Lesser of 100% of average compensation for 3 years or $215,000 Lesser of 100% of average compensation for 3 years or $220,000
Annual Compensation Limit $270,000 $275,000

* For employees age 50 and older.