Medicarebob

Most people pay their Part D drug plan premium out of their Social Security check. Don’t be alarmed if you change your Part D drug plan this Annual Enrollment Period and you receive your Social Security statement with it showing the drug plan you had for last year. This is perfectly normal. Understand that this is just two different sides of the Government that sometimes have a lag time in communicating. All you need to worry about is that you enrolled in your new Part D drug plan for 2019 and you have your policy confirmation number. As long as you have this information, you are in good shape.

This Rate Watch Wednesday is focused on Medicare Supplement Plan G, for a male and female, ages 65 thru 75 in El Paso, Texas (zip code 79936). As I have said before, Medicare Supplement plans are all Federally regulated by the government. There is no reason for anyone to pay more for their Medicare Supplement Plan G with one carrier over another because the letter of the plan dictates the coverage, not the carrier. You are not getting any additional benefits by paying more. That’s why it is important to shop your Medicare Supplement coverage every year, and we can help you with that. You may ask, “Why do these companies charge different prices if they are all the same?” That’s a great question. Carriers have different administrative costs and they have different profit goals. There’s tons of different reasons why these big companies charge different prices. What you need to know is, just like in your Medicare book, Medicare Supplement Plan G is the same with every carrier.

A common mistake that many people make is when they go to the Pharmacy to pick up their diabetic medications and use their Medicare Part D card, they also try to use the same card to pick up their diabetic supplies. Unfortunately, they then find out that Medicare Part D does not cover diabetic supplies. Medicare Part B covers diabetic supplies like blood sugar testing strips, lancet devices and lancets, blood sugar control solutions etc. So, when going to purchase diabetic supplies, you want to have your red, white and blue Medicare Card and your supplement card available. That is who is going to pay for those supplies.

The Medicare Supplement Plan G pays all the benefits that Medicare Part A and B would normally charge you, except for the Medicare Part B annual deductible, which for 2019 is $185. One question that we get asked quite often is, “When does this deductible reset?” The Medicare Part B annual deductible resets every year on January 1st. Medicare considers the calendar year January 1st to December 31st. If you have a Medicare Supplement that requires you to satisfy that annual deductible, and you have not yet met your deductible for the year, it will reset January 1st and you would be required to pay the full amount of the deductible the next year.

If you are wanting to upgrade from a Medicare Advantage Plan to a Medicare Supplement or if you are switching from one Medicare Supplement Plan to another Medicare Supplement Plan, you will have to medically qualify to change. In most states, if you have a Medicare Advantage Plan (HMO or PPO) and you would like to upgrade to a Medicare Supplement Plan, every carrier has a set of health questions that you will have to answer. This is known as underwriting. If you can not pass underwriting, you will not be able to upgrade. The same rule applies if you are switching from one Medicare Supplement Plan to another. For example, if you have a Medicare Supplement Plan F and are wanting to switch to the Medicare Supplement Plan G in order to save money on your coverage, you will be subjected to medical underwriting.

This Rate Watch Wednesday is focused on Medicare Supplement Plan G, for a male and female, ages 65 and 70 in Gainesville, Georgia (zip code 30501). As I have said before, Medicare Supplement plans are all Federally regulated by the government. There is no reason for anyone to pay more for their Medicare Supplement Plan G with one carrier over another because the letter of the plan dictates the coverage, not the carrier. You are not getting any additional benefits by paying more. That’s why it is important to shop your Medicare Supplement coverage every year, and we can help you with that. You may ask, “Why do these companies charge different prices if they are all the same?” That’s a great question. Carriers have different administrative costs and they have different profit goals. There’s tons of different reasons why these big companies charge different prices. What you need to know is, just like in your Medicare book, Medicare Supplement Plan G is the same with every carrier.

October is here and with that comes the Annual Election Period. In this video I will discuss what the 2019 Annual Election Period means for you and whatever coverage you have. If you have a Medicare Supplement Plan (Medigap), you can shop now to save money on your supplement plan. Just a reminder, you can actually do that all year however, now is a good time to do it because a lot of companies have their rates published for 2019. If you have a Medicare Part D drug plan, this is a very important time for you. The Annual Election Period is the only time in the year that you can shop your Part D drug plan. Between October 15th and December 7th, you can shop and compare your Part D drug plans with the new plans. If you have a Medicare Advantage Plan, again, this is the only time in the year that most people can shop their Advantage Plan. You should have received your ANOC (Annual Notice of Change) in September of any changes being made to your plan. So, you can now compare your plan and the changes made to any o

During this Annual Election Period, there is one very important thing to know before you make your final choice on whether or not to purchase a Medicare Advantage Plan or a Medicare Supplement Plan (Medigap). If you decide to choose any of the Medicare Advantage Plans, please understand that, should you want to upgrade later in life to a Medicare Supplement, you may not be able to because at that point you will have to medically qualify to upgrade your coverage. I am not against Medicare Advantage Plans, because my company offers them. They are good health plans for certain people. However, for the majority of people that are 65 years old or older, it can make a lot of sense to purchase a Medicare Supplement Plan, especially if know that you will have to medically qualify to upgrade later in life. Please shop all of your options for coverage before making your final choice.

This Rate Watch Wednesday is focused on Medicare Supplement Plan G, for a male and female, ages 65 and 70 in Santa Fe, New Mexico (zip code 87501). As I have said before, Medicare Supplement plans are all Federally regulated by the government. There is no reason for anyone to pay more for their Medicare Supplement Plan G with one carrier over another because the letter of the plan dictates the coverage, not the carrier. You are not getting any additional benefits by paying more. That’s why it is important to shop your Medicare Supplement coverage every year, and we can help you with that. You may ask, “Why do these companies charge different prices if they are all the same?” That’s a great question. Carriers have different administrative costs and they have different profit goals. There’s tons of different reasons why these big companies charge different prices. What you need to know is, just like in your Medicare book, Medicare Supplement Plan G is the same with every carrier.

There are three main reasons why paying your Medicare Supplement premium by direct bank draft is the preferred way to pay your premium: 1. It saves money. There has to be employees to process the mail and checks that carrier receive in the mail. This means that the carriers need to pay more people and if it costs the carriers money, it costs you money. Carriers like direct bank draft because it saves them money, which in turn, keeps the premiums low. 2. It’s more secure. When sending a check in the mail, there is always the chance for error. Either it gets sent to the wrong place or gets lost completely. Much more people handle the check and have access to your information, which is always risky. By using direct bank draft, only your agent sees your information and it’s put directly into the processing system. 3. No lapse in coverage. Some people still prefer sending their checks in to pay their premium. I will use a real-life experience that happened to a client of mine. In this situation, a husband and w

October is here and with that comes the Annual Election Period. In this video I will discuss what the 2019 Annual Election Period means for you and whatever coverage you have. • If you have a Medicare Supplement Plan (Medigap), you can shop now to save money on your supplement plan. Just a reminder, you can actually do that all year however, now is a good time to do it because a lot of companies have their rates published for 2019. • If you have a Medicare Part D drug plan, this is a very important time for you. The Annual Election Period is the only time in the year that you can shop your Part D drug plan. Between October 15th and December 7th, you can shop and compare your Part D drug plans with the new plans. • If you have a Medicare Advantage Plan, again, this is the only time in the year that most people can shop their Advantage Plan. You should have received your ANOC (Annual Notice of Change) in September of any changes being made to your plan. So, you can now compare your plan and the changes made

This Rate Watch Wednesday is focused on Medicare Supplement Plan G, for a male and female, ages 65 and 70 in Ann Arbor, Michigan (zip code 48103). As I have said before, Medicare Supplement plans are all Federally regulated by the government. There is no reason for anyone to pay more for their Medicare Supplement Plan G with one carrier over another because the letter of the plan dictates the coverage, not the carrier. You are not getting any additional benefits by paying more. That’s why it is important to shop your Medicare Supplement coverage every year, and we can help you with that. You may ask, “Why do these companies charge different prices if they are all the same?” That’s a great question. Carriers have different administrative costs and they have different profit goals. There’s tons of different reasons why these big companies charge different prices. What you need to know is, just like in your Medicare book, Medicare Supplement Plan G is the same with every carrier.

The Medicare Supplement Plan F has been the most popular Medicare Supplement plan over the last 25-30 years. I call it the "Full Coverage” plan because you can go to any doctor or any hospital in the country that accepts Original Medicare and as long as it’s a Medicare covered service, there are no co-pays or deductibles, all the bills are paid. However, in 2019 the better choice is Medicare Supplement Plan G, which I call “Greatest Value”. The only difference in benefits between the Medicare Supplement Plan F and the Medicare Supplement Plan G is Medicare’s Part B annual deductible, which for 2019 is $185. Once that deductible has been paid, the Medicare Supplement Plan G covers exactly like the Medicare Supplement Plan F. There are two reasons why I recommend the Medicare Supplement Plan G over the Medicare Supplement Plan F. 1. The difference in premiums between the two plans will save you money. The average cost of the Plan F is $600-$800 more a year in premiums than the Plan G. If the only difference be

A helpful tip during the Annual Enrollment period. This tip will help avoid confusion between you and your doctor’s office: As you’re shopping for a Medicare plan, it is very common that we ask our doctors which plans they accept. If you decide to go with a Medicare Advantage plan, if it very important to check with your provider to make sure that they accept the HMO or PPO plan of the carrier that you’re choosing. For example, if you were choosing and HMO plan with United Healthcare, you would call your doctor’s office and ask if they accepted the United Healthcare HMO Medicare Advantage Plan. Ninety percent of the time they will tell you yes or no and then you can proceed from there. If you are choosing a Medicare Supplement plan (Medigap plan), the ONLY question you need to ask your doctor is if they accept Original Medicare because there are no networks with Medicare Supplements. Medicare is the network. For example, if you decided to choose a Medicare Supplement Plan G with Mutual of Omaha, do not ask y

This Rate Watch Wednesday is focused on Medicare Supplement Plan G, for a male and female, ages 65 and 70 in Lafayette, Louisiana (zip code 70501). As I have said before, Medicare Supplement plans are all Federally regulated by the government. There is no reason for anyone to pay more for their Medicare Supplement Plan G with one carrier over another because the letter of the plan dictates the coverage, not the carrier. You are not getting any additional benefits by paying more. That’s why it is important to shop your Medicare Supplement coverage every year, and we can help you with that. You may ask, “Why do these companies charge different prices if they are all the same?” That’s a great question. Carriers have different administrative costs and they have different profit goals. There’s tons of different reasons why these big companies charge different prices. What you need to know is, just like in your Medicare book, Medicare Supplement Plan G is the same with every carrier.

The increases for Medicare premiums and deductibles have been announced. Great news! The increases are very minimal. • Medicare Part A premium: For most people this premium comes out of their social security check every month. In 2018, the premium was $134.00 a month. In 2019, the premium has only increased to $135.50. Only a $1.50 increase which is great news. • Medicare Part B annual deductible: In 2018, Medicare’s Part B annual deductible was $183.00 per calendar year. In 2019, the price of the deductible will be $185.00. Again, more great news as it only experienced a $2.00 increase. • Medicare Part A hospital deductible: In 2019, the deductible that beneficiaries will pay when admitted to the hospital is $1,364. An increase of $24 from $1,340 in 2018. That is a per service deductible, not an annual deductible.

We recommend Medicare Supplements (Medigap) to 95% of our clients and I will explain why. In order to better understand why, I will break down the two different types of plans that someone on Medicare can choose. The two options are a Medicare Advantage plan or a Medicare Supplement plan. Listed below is a brief, generic explanation of Medicare Advantage plans and Medicare Supplement plans: Medicare Advantage Plan • It is not a Supplement, it is a private company that provides a health plan that you will use instead of using your traditional Medicare. So, you replace your Medicare. • $0 - $100 premium depending on the plan’s location. The $134 Medicare Part B premium is no longer paid to Medicare but to the private insurance company. • Deductibles and copays up to your yearly maximum. Depending on the plan, an average of $3000 - $6000 maximum out of pocket for the year. • Networks of doctors and hospitals for HMO plans. PPO will offer out-of-network coverage but at an additional cost. • Requires

This Rate Watch Wednesday is focused on Medicare Supplement Plan G, for a male and female, ages 65 thru 75 in Newark, New Jersey (zip code 07101). As I have said before, Medicare Supplement plans are all Federally regulated by the government. There is no reason for anyone to pay more for their Medicare Supplement Plan G with one carrier over another because the letter of the plan dictates the coverage, not the carrier. You are not getting any additional benefits by paying more. That’s why it is important to shop your Medicare Supplement coverage every year, and we can help you with that. You may ask, “Why do these companies charge different prices if they are all the same?” That’s a great question. Carriers have different administrative costs and they have different profit goals. There’s tons of different reasons why these big companies charge different prices. What you need to know is, just like in your Medicare book, Medicare Supplement Plan G is the same with every carrier.

Three of the most popular and most comprehensive Medicare Supplements for 2019 are Plan F, Plan G and Plan N. These plans are explained in the list below: • Plan F “Full Coverage” – The name says it all. The Medicare Supplement Plan F covers the 20% that Medicare does not pay completely. You have no copays; no deductible and you can go to any doctor or hospital as long as they accept Original Medicare. • Plan G “Greatest Value” – The Medicare Supplement Plan G will cover you exactly like the Medicare Supplement Plan F except for one difference; you will have to pay Medicare’s Part B annual deductible, which for 2019 is $183.00. After you meet that deductible the Medicare Supplement Plan G covers exactly like the Medicare Supplement Plan F. You have no copays; no deductibles and you can go to any doctor or hospital that accepts Original Medicare. • Plan N “Not Fixed” – The Medicare Supplement Plan N is a really good plan. There are 4 differences between Medicare Supplement Plan F and the Medicare Supplement

The 2019 Part D drug plans have been released and there have been a few changes made. In order to better understand these changes, you need to understand how drug plans work. Most drug plans have 4 levels of coverage: Deductible Level, Copay Level, Coverage Gap and Catastrophic Level. The updates made to the Part D drug plans are as follows: 1. The standard deductible is $415. Keep in mind that a lot of carriers are offering a “Tiered Deductible”, meaning that the deductible does not apply to Tier 1 and Tier 2 medications. So, one would pay a small amount for Tiers 1 and 2 from the start. 2. The copay level, the plan pays 75% of their negotiated cost and the client pays 25% as their copay. Different plans get certain medications for lower and higher costs (formulary). This is one reason it is important to shop your Medicare Part D plan every year. 3. Coverage Gap (Donut Hole): Once the client and the Medicare Part D Plan have paid $3.820 for the medication costs, the client enters the Donut Hole. Great news!