Medicarebob

This Rate Watch Wednesday is focused on Medicare Supplement Plan G, for a male and female, ages 65 thru 75 in Mobile, Alabama (zip code 36525). 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.

When you have a Medicare Supplement Plan G, you pay the monthly premium and the only out-of-pocket expense you have is Medicare’s Part B annual deductible ($183.00 for 2018). Once you’ve met this deductible, the Medicare Supplement Plan G pays all of your medical bills. This deductible can be paid in one of two ways, all at once or over time throughout the year. Some examples of how you could pay the deductible are as follows: You go to your doctor’s office and have a regular check up or physical. The doctor charges you $40 for that visit and you pay it. You would have paid $40 of your annual deductible so now your remaining deductible is $143. You can continue to pay it this way for the remainder of the year until the deductible is satisfied. You need to have an x-ray done on your shoulder. The average cost of an x-ray can range from $260-$460. Let’s say the cost was $300, you would only pay $183 and the Medicare Supplement Plan G would pay the remaining balance of $117.

Medicare Part C is also known as a Medicare Advantage Plan, which is not a Medicare Supplement. It is a private alternative to Medicare. If you have a Medicare Advantage Plan, your Medicare Part B premium will go to the carrier that you have your plan with instead of Medicare and this is why there are very low or zero premium plans. As far as coverage, the Medicare Advantage does not work like a Medicare Supplement. It does not cover the 20% that Medicare does not cover. Medicare Advantage Plans replace what Medicare Parts A and B would charge with their own set of co-pays, deductibles and co-insurance. Because Medicare Advantage Plans replace your Medicare, you can no longer go to any doctor or hospital that you choose. Most Medicare Advantage Plans (HMO plans) have a network of doctors and hospitals that you must choose from, however some plans such as PPO plans will allow you to choose any doctor or hospital that you want but you will have to pay more for their services.

This Rate Watch Wednesday is focused on Medicare Supplement Plan G, for a male and female, ages 65 thru 75 in Birmingham, Alabama (zip code 35005). 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 the Medicare Supplement Plan G is a greater value than the Medicare Supplement Plan F. 1. Simple math. Plan F costs $300-$800 more per year in premium than Plan G, so why pay plan F more when the only difference in benefits is that Plan G has a small $183 deductible? 2. Plan F is the guaranteed issue plan which means that, in certain situations a person can purchase a Plan F if they are unhealthy. Whereas, you must medically qualify for the Plan G after you turn 65. No exceptions. 3. Plan F is being discontinued. No one that turns 65 after 01/01/2020 will be able to purchase the Plan F. This will cause the Plan F premiums to increase quickly and the Plan G premiums to remain more stable because there will be fewer people in Plan F over time and the Plan G will continue to accept people.

Enrolling your Medicare Part B depends on if you’re drawing your social security benefit. If you’re drawing your social security benefit you’ll automatically be enrolled in Medicare Part B. If you’re not drawing your social security benefit then you can register for Medicare Part B in one of three ways: 1. You can register online through social security’s website. 2. You can call social security and register over the phone. 3. You can go into your local social security office and register in person. Medicare Part B covers all of your doctor and medical bills. For example: lab work, x-rays, outpatient procedures, CT scans, MRI’s, specialist visits, physical therapy etc. It also covers outpatient medications that are administered in a doctor’s office such as Humira injections or chemotherapy medications. Medicare Part B will also cover ambulance rides should you need one. Key tip: make sure you can not walk to the ambulance. Medicare may not cover the cost if you walk to the ambulance.

This Rate Watch Wednesday is focused on Medicare Supplement Plan G, for a male and female, ages 65 and 70 in Columbus, Georgia (zip code 31801). 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.

Starting in January 2019, Medicare is going to have a new open enrollment period that runs from January 1st to March 31st. Medicare offered this open enrollment a few years ago but decided to end it and came out with MADP period which is the Medicare Advantage Disenrollment Period. The MADP was designed for people who chose an Advantage Plan during Annual election period and realized they didn’t like it. They were given six weeks to upgrade back to a Medicare Supplement plan. So many people have complained that that time period in not long enough so Medicare is getting rid of the MADP and they’re bringing back the open enrollment period from January 1st to March 31st. What this means is if you have a Medicare Advantage Plan, you can actually go back to Medicare and get a Medicare Supplement plan and you do not have to wait until the Annual Election Period in October. It also allows you go from one Medicare Advantage Plan to another without having to wait until October.

Enrolling in Medicare Part A depends on if you’re drawing your social security income. If you are drawing your social security income then you will be automatically enrolled in Medicare Part A. If you are not drawing your social security income; you can register for Medicare Part A in 3 ways: 1. Call the Social Security Office 2. Go to their website 3. Go to your local Social Security Office Medicare Part A is your “room and board” or Hospital coverage because, for the most part, Medicare Part A is going to cover you while you’re in the hospital and it’s going to cover your room and board charges. If you are hospitalized and it’s an inpatient stay, you’re going to use your Medicare Part A benefit. Medicare Part A does not pay for all of your medical bills while you are in the hospital. Part A comes with a $1,340.00 deductible for 2018. You will have to pay the first $1,340.00. That will cover you for 60 days; after that you will have a per day charge while you’re in the hospital.

This Rate Watch Wednesday is focused on Medicare Supplement Plan G, for a male and female, ages 65 and 70 in Atlanta, Georgia (zip code 30305). 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.

This Rate Watch Wednesday is focused on Medicare Supplement Plan G, for a male and female, ages 65 thru 75 in Tucson, Arizona (zip code 85704). 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.

One question that has been asked regularly is “What does the Medicare Supplement Plan G cover?” The Medicare Supplement Plan G offers almost exactly the same coverage as the Medicare Supplement Plan F. One of these coverages is Medicare Part B Excess Charges. The Medicare Supplement Plan G does cover Part B Excess Charges. Every provider and doctor that excepts Medicare has one of two contracts with Medicare. They can accept what’s called “Medicare Assignment”, meaning that they will not negotiate with Medicare on prices. Medicare will dictate what they can charge for a service such as lab work, MRI, CAT scan etc. Doctors or providers that do not accept Medicare Assignment are permitted to charge more than what Medicare allows, however they can not charge more than 15% of the assigned rate. If you have just Medicare Part B, you are susceptible to those charges but with the Medicare Supplement Plan G, you have nothing to worry about because the Medicare Supplement Plan G pays for you.

The Medicare Part A deductible is a hospital deductible. Every time you go to the hospital, Medicare will charge $1,340 if you only have Original Medicare Parts A and B. It is important to understand that this IS NOT an annual deductible, it is per coverage period or per occurrence. If you are hospitalized you will have to pay the $1,340; if you are hospitalized 3 months later, you will have to pay the $1,340 again. One important factor of this deductible that you need to know is that if you go to the hospital, are released but go back for the same reason within 60 days; they cannot charge you that deductible again. However, if you go back to the hospital for the same reason outside of that 60-day period, the hospital will most likely charge you that deductible of $1,340 again.

Medicare does cover the Endoscopy procedure. Endoscopy is considered an outpatient procedure. Medicare Part B (Medical Insurance) covers medically necessary diagnostic and treatment services you get as an outpatient from a Medicare-participating hospital. If you just have Original Medicare, Medicare will pay 80% and you generally pay 20% of the Medicare-approved amount for the doctor or other health care provider’s services, and the Part B deductible applies. If you have a Medicare Supplement like Plan F, Plan G or Plan N; Medicare will pay 80% and your supplement will pay the 20%. As long as you have met your Part B deductible with Plan’s G and N, you will not have any out of pocket cost.

This Wednesday Rate Watch is focused Medicare Supplement Plan G, for a male and female, ages 65 thru 75 in Sun City, Arizona (zip code 85345). 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.

This Wednesday Rate Watch is focused on Medicare Supplement Plan G, for a male and female, ages 65 thru 75 in Phoenix, Arizona (zip code 85001). 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.

Medicare Supplement Plan G covers everything that Medicare covers, so it does cover care in a Skilled Nursing Facility. For Medicare cover you in a Skilled Nursing Facility you have to have a qualifying 3 days or more admission to a hospital. If you are transported to a Skilled Nursing Facility, Medicare will cover the first 20 days. However, starting day 21, you would normally have to pay out of your own pocket to continue care. If you have the Medicare Supplement Plan G, it will pay the per day co-pay that Medicare does not pay starting day 21 to day 100. With Medicare and Medicare Supplement Plan G, if you should need the care of a Skilled Nursing Facility, you will be covered for 100 days of care at no cost to you.

It’s August and many of you have hit the dreaded Donut Hole either recently or within the last couple months. People have been asking the questions, “When can I change my drug plan?” or “When do the 2019 Part D drug plans come out?” This is how the dates work: • Medicare has what is called an Annual Election Period or Annual Enrollment Period. The official date that you can change your drug plan is October 15th through December 7th. However, the change will not take effect until January 1st 2019. Here is some information that some of you may not know. The new drug plans are actually released on October 1st. You can either go to Medicare’s website, enter in your medications and Medicare will sort which Part D drug plan is the most cost-effective for you or you can speak with an agent and they can walk you through it. Now keep in mind, you will be on your drug plan for the remainder of 2018 because your new drug plan will not take effect until January 1st 2019.

If you take Humira or another prescription that you can get administered by a healthcare professional you are better off getting it done that way. Some prescriptions like Humira have the option to have it ordered through your Part D drug plan or you can go to a doctor’s office and they’ll administer it for you. If you do it yourself, you will have to order it through your Part D drug plan, which can be very expensive and put you into the Donut Hole. If you have the option of getting it administered by your doctor through their office, it will be billed as a Medicare Part B service. So, if you have a Medigap or Medicare Supplement plan, Medicare will pay 80% and the supplement will pay the remaining 20%. Humira would be at little to no cost to you.

The Medicare Supplement Plan G does not have any co-pays. How the Medicare Supplement Plan G works is Medicare is your primary insurance and Plan G picks up the Medicare approved amount for Medicare approved services. The Plan G pays the remaining balance. The only out of pocket cost you have with the Medicare Supplement Plan G is Medicare’s Part B annual deductible which is currently $183.00. There is some confusion with some people that have the Medicare Supplement Plan G and they may have had an agent tell them that they will have a co-pay. This is incorrect. A deductible is the amount of money that you have to pay before the insurance company steps in and pays what they’re supposed to pay. A deductible is not something you pay at the time of your service. A co-pay is a pre-negotiated price that you agree to pay with the insurance company that you have.