Posts Tagged ‘Medigap’

« Older Entries
Newer Entries »

Medicare Supplement Plans, The Easy Way

Sunday, April 17th, 2011

“I have been trying to muddle through this for months.” Said a client of mine who was trying to make sense of the material she was finding on Medicare and Medicare Supplement Plans

This article is not going to clear up all of that confusion. However you will find some very helpful information about accessing assistance in your quest for information and some hazards you will want to sidestep.

You do not have to “go it alone.” There are many reputable insurance professionals that are ready and able to help you. How do you find a good one? Some questions you should ask to determine if you are dealing with one:

1)Look for an agent or broker who is independent. This simply means that they have the ability to shop all of the available plans. They are not limited to one carrier. This benefits you because this agent will not try to fit you into his limited portfolio of plans, rather he will look at his diverse portfolio and help you find the right plan for you. In addition an, a captive agent may decide to leave the company he represents and no longer have access to the support he/she needs to provide customer service to you.

2) Always remember that the this is about you and your unique situation. A competent, professional agent will ask questions about your lifestyle, your health , how much you plan to travel, what you can afford. All of these factors should have an impact on your choice. No two cases are alike.

3)Does the agent specialize in Medicare specifically? The world of insurance is extremely diverse. Look for an agent who specializes in Medicare. Someone who is up to date on the laws and the changes is going to be able to advise you. It is wise to avoid a “jack of all trades” when it comes to Medicare. There is a lot to know about any genre of insurance.You are better with someone focused on the segment that you are dealing with.

4)Here today, gone tomorrow. Beware of agents who are new to the insurance business. Every year all across the country myriads of people go to classes and pass the test to get their insurance licenses. Statistically less than 10% of those new agents will survive the first year in the business. They will write some policies during that year though. If you are one of them, you will be left agent-less down the road. Avoid this by making sure that your agent is in it for the long haul, and years under his/her belt is the best way to judge that.

5)Don’t put up with an agent who talks over your head. Be wary of an agent who uses terminology that is unfamiliar to you. There is no reason for that at all. A good agent will give you the information in layman’s terms. They will not be rushed, rather they will spend the necessary time to make sure that you are clear about the information. Then and only then will you be ready to decide what is best for you.

6)Last but not least. Does it feel like the agent is more interested in what is good for him than what is good for you? Obviously everyone has to make a living, but a broker with good ethics knows that they will build their business by treating each client honestly and properly.

So you don’t have to wander the Medicare maze all alone. You can confidently seek the help you need with Medicare and Medigap Insurance. Use these tips to make sure you are dealing with the right person.

We want to help. You do not have to approach medicare alone. For the latest information about Medicare or for to compare medicare supplement plan options and rates in your area, call 888-347-5552 or visit www.medicarequote4u.com.

Tags: , , , , , , , , ,
Posted in affordable health insurance | No Comments »

What Impact will Health Care Reform have on Medicare and Medigap Insurance?

Saturday, April 16th, 2011

Some of the ways you and your Medicare Insurance will be affected by the new health care law.

It doesn’t matter if you are pro health care reform or con health care reform. What matters is whether the Affordable Care Act will affect your Medicare Benefits and if so, how?

It will please you to know that the new law will not cut your Basic benefits. In fact, it will actually make some benefits better. The free annual wellness checkup is a good example of this. Starting 2011, your annual checkup and certain preventative screenings, like cancer and diabetes will be provided at no cost.

What about drug coverage? Good news there as well. For those of us on multiple , costly prescription drugs, the Part D donut hole looms large. The law started effecting Medicare Part D in 2010 with the $250 rebate for those who went into the coverage gap on their drug plan. In 2011 you will receive a 50% discount on name brand drugs during the coverage gap. Over the next nine years the donut hole will be closed little by little each year. By 2020 there will be no more coverage gap.

The law also addresses the issue of Medicare spending. Medicare spending is growing at a rate of 6.8% per year. The new law will not stop the growth but will slow it down over the next ten years to 5.5%. This sounds small but it is projected to save Medicare over 400 billion dollars over the next 10 years. How will this be accomplished?

Health care providers like hospitals, nursing homes and others will receive reduced increases in payment. Some have agreed to the payments, expecting that their profits will actually increase because of newly covered beneficiaries.

Originally seen as a cost saving strategy for Medicare, it turns out that Medicare pays up wards of $1,100 more per beneficiary in an Advantage Plan than for original Medicare. This extra cost is being funded by elevated premiums by people with Medicare. The over payments to the MA plans will be lowered by the new law. The goal being that the MA plans cost Medicare the same per person as original Medicare.

How will the reduced funding to the Medicare Advantage plans impact the 25% of Medicare recipients who are enrolled in them? You may experience a loss of extra benefits that are included in your current plan. The private plans will always have to cover the benefits that Medicare guarantees however, so you will not loose any of your basic benefits. Some plans may just not be offered at all. Should your plan leave the Medicare system, you will have the option to enroll in a new plan or go back to original Medicare.

The reduced spending along with additional revenue from taxes paid by people who make 200K+ per year are anticipated to achieve a $124,000,000,000 deficit reduction over the next decade and extend the life of the Medicare Trust Fund for nine years.

Visit us for all of yourmedicare needs. We are standing by to help. Get your up to the minute information and quotes for medicare supplement plans in your area. Call 888-347-5552 or visit medicarequote4u.com. We can help.

Tags: , , , , , , ,
Posted in affordable health insurance | No Comments »

Do you know these two important facts about Medigap – Medicare Supplement Plans?

Saturday, April 16th, 2011

If you don’t know these two important facts about Medigap – Medicare Supplement Plans, you may be paying too much.

What can be more important when trying to make a decision than getting and understanding the facts about your options? This is especially clear to me as I conduct my insurance business specializing in Senior Insurance and Medicare Supplement Insurance Plans.

Acquiring the proper information can be a challenge. Our customers tell us that their simple inquiry resulted in a veritable deluge of calls and emails from dozens of agents and brokers. They didn’t get the help they were seeking. Frustrated and even more confused then when they started, they just give up! What a shame. What if there was a better solution for them but they never got to hear about it?

Important Fact #1 : Lead companies want to sell your information.

When you seek information on line or fill in a form to win a prize you may be entering your personal information into a lead service.They will sell your information to numerous agents who contract with them to provide them with names and contact information of people seeking information about Medigap – Medicare Supplement Plans. This is what starts the avalanche!

You can avoid this by making sure that you are on a legitimate, licensed Broker’s website.

Check to see that there is a toll free number for you to call. It is also important that there is an email address that you can use to contact them.

How much information do they want from you in order to provide you with a quote if it seems like too much, then it is and you are not in the right place.

Important Fact #2: The prices for Medicare Supplement Insurance Plans can be different from one insurer to another but the plans have the same benefits.

There are currently 10 standardized Medicare Supplement Plans. The benefits in each of these plans are approved by the Center for Medicare and Medicaid Services(CMS).All insurance companies that offer Medicare Supplement Insurance must comply with the approved benefits for the plans that they offer. Even though the benefits in each of the different plans are the same regardless of which company is offering the plan, there are big differences in the prices of the plans from company to company.

Armed with this knowledge go ahead a look at prices for your plan with a few companies. People who have done this have saved up to 30% and more.

I hope that by knowing these two critical facts you will save some money and time and aggravation.

Learn more about Medigap – Medicare Supplement Plans. Stop by our website where you can find out all about Medigap – Medicare Supplement Plans in your area and compare prices.

Tags: , , , , ,
Posted in affordable health insurance | No Comments »

Medicare Supplement Plans and Medicare Part D

Saturday, April 16th, 2011

Have you ever wondered “I’m not on any prescriptions. I have Medicare A&B and Medicare Supplement Insurance. Why should I pay extra for a Part D Plan?” While many people feel that way there are some things to think about that may motivate you to sign up for a plan anyway.

As we grow older we are more likely to need some kind of maintenance prescriptions. There are limited windows of time when you can join a Part D Plan. When you are first eligible for medicare is one. If you join then you will not be subject to any penalties. If you don’t choose to join at that time you will have to wait until the Medicare AEP(annual enrollment period). Most likely if you wait, you will be penalized and the penalty is assessed to your monthly premium for as long as you are enrolled.

Medicare’s drug program is called Medicare Part D. Part D is offered by private companies. These companies and the various prescription plans that they make available must be approved by Medicare.

All plans must meet Medicare minimums for coverage but still there are wide differences in total cost between plans. There are two ways to get Medicare prescription drug coverage: 1.Medicare Prescription Drug Plans (PDP) These plans add drug coverage to Original Medicare, some Medicare Cost Plans, some Medicare Private Fee-for-Service (PFFS) Plans, and Medicare Medical Savings Account (MSA) Plans. 2.Medicare Advantage Plans (like an HMO or PPO) are other Medicare health plans that offer Medicare prescription drug coverage. You get all of your Part A and Part B coverage, and prescription drug coverage (Part D), through these plans. Medicare Advantage Plans with prescription drug coverage are sometimes called “MA-PDs.”

Because of the differences between the plans it is imperative to shop the plans. One way to do this is the Medicare Plan Finder. It can be accessed right on the Medicare website www.medicare.gov. You just open the program and enter your drugs in the form and it will show you all of the available plans and what your actual overall costs will be for each plan for your particular prescriptions. You can also see how the plans rank as to quality and specifics on each plan. You can also get help finding the right plan for you at www.medicarequote4u.com.

Let us help. You can get the information you need about Medicare and a free personalized quote for Medicare Supplement Insurance at www.medicarequote4u.com

Tags: , , , , , , ,
Posted in affordable health insurance | No Comments »

What You Don’t Know About Medicare Supplement Plans Can Cost You Part 2

Saturday, April 16th, 2011

File these two items in the things you need to know. I come across a lot of Medicare Beneficiaries that don’t know about these two items and as a result may be over paying for your health care

Fact 1: There is NO Annual Enrollment Period for Medicare Supplement Plans.

Since there is no Annual Enrollment Period for Medicare Supplement Plans, you are not locked into your current plan. You can move to a different plan when ever you wish.

Knowing this frees you to compare your plan options and switch to a different plan or company at any time. If you find that you can get the same plan for a better price, you can switch and start saving immediately.

Fact 2: There IS an Annual Enrollment Period for Part D Medicare Prescription Drug Plans.

Part D Medicare Prescription Plans(PDP) are Medicare approved plans offered by private insurance companies. They vary in regards to monthly premium, deductible, and co-pays.Medicare requires that all of the approved plans cover certain drugs. Each plan has a unique formulary. A formulary is a list of drugs that the plan covers and where the specific drugs fall on the co-pay tiers.

We recently conducted a test study using a listed we created which included 4 generic drugs and 1 brand drug. Our study looked at the cost for a year for 27 plans available in the county we picked. We found that for the same list of drugs the cost ranged from $734 on the low end to $2623 on the high end.

This really illustrates the importance of being in the right PDP.

Write a reminder on your calender for October this year and take the time to make sure that you are in the plan for your specific drugs during the annual open enrollment period.This is the only time of the year that you can change your PDP.

I hope that these 2 items about Medicare will help you save some time and keep more of your money in your pocket.

Learn more about Medicare Supplement Plans . Stop by MedicareQuote4U.com where you can find out all aboutMedigap and what it can do for you.

Tags: , , , , , ,
Posted in affordable health insurance | No Comments »

Medicare Supplement Rates, Why The Difference Between Companies?-Part 1

Friday, April 15th, 2011

You may think to yourself that it is interesting that there could be so much difference in price between Standardized Medicare Supplement Plans. We have seen prices vary by over 100% from company to company. So how are these rates determined? There major factors that weigh into rate determination.

What states does a company sell within?

Because every states regulations differ by so much you would imagine that it would be more expensive to sell in a certain state vs. another state. If a Medicare Supplement Company decides to sell in a state where regulations are very strict this could mean that higher rates will be passed onto consumers. In contrast if a Medicare Supplement Company decides to sell in a state where the regulations are lax than rates will dictate that.

Some people may think well if a Medicare supplement Company does not sell in a certain state, what if I am visiting that state, will I have coverage? The answer is yes, you can use your Medicare Supplement plan at any provider that accepts Medicare. Meaning if you are in a lesser regulated state you may be able to find a much lower premium rate.

Another factor that would contribute to rate difference is whether a company chooses to offer Medicare Supplement Plans to people that are retiring from a Group Plan. What we are referring to is not offering coverage individually but to the entire group. Offering coverage to the entire group would increase the amount of Guaranteed Issue status cases that would have to be written meaning that there is a higher chance of health issues and in turn higher rates.

Think about it like this if a large retiring group is offered Medicare Supplement Plans through a company, it is now that companies responsibility to offer coverage to every single Retiree. You could imagine that the Medicare Supplement Company is opening themselves up to many more potential health issue that they did not underwrite because everybody was Guaranteed Issue.

Looking to find the best deal on Medicare Supplement Plans, then visit www.medicarequote4u.com to find the best advice on Medigap Plans for you.

Tags: , , , , ,
Posted in affordable health insurance | No Comments »

People Tend To Ask The Question; What Is Medigap Insurance Or Gap Coverage?

Friday, November 12th, 2010

With so many people utilizing medicare health options, a lot of people are beginning to hear about various third party options that might complement such a thing. Many of them are starting to wonder: “what is medigap insurance?”. This is actually such a common question, that we are going to be taking a closer look at what such a policy really is and how it might help you.

We cannot continue any further without acknowledging the well known fact that medicare coverage is a life saver to many people within our society. However we need to also acknowledge the simple fact that certain gaps typically exist within many policies of this type. Keep in mind that any gap within medical coverage could be very dangerous to people in certain situations.

This policy that we are discussing within this article is not only sold by a third party provider, but it has been specifically designed to fill the type of coverage gaps that were previously mentioned. Since so many providers are offering plans, there are certain reasons that it might be a very good idea to carefully research all policies that you consider buying.

Keep in mind, that as with most forms of health based insurance, certain requirements are going to have to be present within any accepted applicant. The most common requirement is for applicants to have both A and B level medicare coverage already. This means that you have to pay the premium of a new policy, while still paying for the premium of your B level medicare policy.

We have already recommended that you perform careful research regarding any policy that you are considering. One reason that this is so very beneficial is for the simple fact that many federal and individual state laws, apply to this type of gap based coverage. You want a policy that is both legal, as well as cost effective, so do your research before buying.

Another important thing to remember about this type of coverage is that unlike some forms of medicare, you are your spouse are going to require individual coverage to cover the gaps for each of you. All that some people see is the fact that this will raise the amount of money that they are spending on insurance for them and there spouse, and they miss the obvious benefits of such coverage.

It is now hoped that nobody no longer has that lingering question: “What is medigap insurance?”. You should now be very familiar with such insurance policies, as well as buying them.

Medicare supplemental insurance premiums provide a bridge between the price of health care and the total amounts covered under Medicare. Medicare supplement insurance is helpful to prevent devastating health care costs for procedures and sometimes medication not covered by Medicare.

Tags: , , , , ,
Posted in affordable health insurance | No Comments »

Medicare Supplement Insurance: A Short Overview

Friday, November 12th, 2010

Health insurance, health care and reform of health care is a popular political subject today. If you are close to retirement age, you probably have asked, “What is Medicare Supplement insurance?”. These policies are also known as Medigap policies. Policies called Medigap are designed to bridge the gap between benefits offered by Medicare and the total costs for the medical or health care procedures performed.

The original Medicare plan doesn’t cover things like coinsurance and deductibles. Medicare supplement policies are designed to help defray those costs. Making health care affordable for seniors is the goal of all these coverage choices. Each of the supplemental policies sold by insurance companies are standardized. Medicare supplement insurance should not be confused with Medicare Advantage. Supplement policies are identified by the letters after the name. Each letter A policy includes the same benefits, regardless of the company that offers the coverage. The same is true of each letter L policy.

In some states, including Louisiana and Texas, Medicare SELECT policies can be purchased. Once you select one of the plans, you can continue to renew it by paying the premium. New plans are guaranteed for continued coverage.

There are several different supplement plans, You should choose the one that works best for your own situation. Since the type of plan is the same across the companies that offers it, you should focus on the exact coverage that is closest to the type of health care needs that you have. Purchase from the company that has the best price for that particular policy.

Medicare Supplement policies don’t cover all health related expenses. You can’t get coverage for long term care or for eyeglasses. Dental insurance is not included under Supplemental policies. Prescription drug coverage is included within some older plans, but not for future plans.

The best time to sign up for Medigap Insurance is when you are in the six month open enrollment period. This occurs when you are at least 65 and are part of Medicare Part B. Both conditions must be met. You are able to submit an application prior to your 65th birthday so that there won’t be a lapse in your benefits as you make the transition to Medicare.

A professional who specializes in this type of insurance can help you to understand what is Medicare Supplement insurance and how it affects your coverage. If possible, find a professional who is not associated with a specific insurance carrier to determine the types of policies. Then you can easily compare prices and pick the company with the lowest cost for that policy.

Wondering what is Medicare Supplement Insurance cover exactly? Get the exclusive inside scoop now in our complete guide to top Medicare Supplements coverage.

Tags: , , , , ,
Posted in affordable health insurance | No Comments »

A Formation Of Understanding What Is Medigap Insurance Anyhow

Tuesday, November 9th, 2010

Seniors that are over the age of 65 have the incredible benefit of qualifying and being automatically enrolled in Medicare. This incredible program was designed specifically for seniors to meet the health care needs during this time frame of age which makes it incredibly easy to cover as much of health care costs as necessary during this phase of life. Truly, although incredibly important and dynamic for seniors, there are still some gaps in coverage that must be considered in order to ensure a successful and fully covered health care option which provides the basis of what is Medigap insurance and why it is important.

This coverage is actually quite incredible in that it offers seniors a cost effective and affordable method of assistance in paying for co payments and other forms of health care needs that are not often provided for in Medicare coverage. Basically, this is a form of protection which goes above and beyond Medicare in many ways. Upon closer examination, any Senior is able to see some incredible benefits.

Much like any insurance plan, there should be a great deal of homework performed on what this plan means to any senior that purchases it. There are often an incredible amount of nuances in these coverage plans which could all be very difficult to navigate through. This has also been an incredibly prolific market over the past few years which could make finding a provider a bit more difficult than one might think.

When one begins to understand what is Medigap coverage, the very foundational approach of the process is to start at the very beginning. The policy options are rather broad and offered from A to L and allows for different levels of coverage with each plan. Each level also covers various different aspects of coverage which makes for an incredible option base overall.

The monthly premiums associated with Medigap are actually quite affordable and provide an incredible amount of coverage in the process. Basically, this is something that allows for an incredible and more robust appeal to diversity which is always an incredible thing. Thus, they are all very cost effective.

It is often recommended to purchase this type of policy only six months after turning 65 in order to ensure a smooth continuation of coverage. After receiving Medicare, some of the best premium rates are offered during this initial coverage period. Thus, once Medicare is received, be sure to mark your calendar for this period.

When one needs to understand what is Medigap insurance, they should understand that this policy is never allowed to be canceled. This is incredible in that it basically means that one is always covered. This, of course, provides incredible peace of mind.

Americans have access to a senior citizen health insurance program that can be enhanced by buying Medicare Supplemental Insurance policies. Medicare supplement insurance provides financial assistance to purchase additional insurance coverage beyond the basic Medicare provisions.

Tags: , , , ,
Posted in affordable health insurance | No Comments »

What Is Medicare Supplement Insurance And Where To Find The Best Policy

Monday, November 1st, 2010

Understanding what is Medicare supplement insurance can help you to choose the right policy and ensure that you have the best health care provided for your needs now and into the future. While buying health insurance is not the most exciting way of spending your time, it is an investment in your health and you should devote time to investigating which plan to choose.

There are several plans that are available in this kind of health insurance, but before taking out a policy, there are a couple of things that you should know. This knowledge will help you to make the right choice.

The first point about these kinds of insurance to get really clear in your mind is that regardless of which company you buy the insurance policy through, the contents and inclusions of policy A at one company and policy A at another company are going to be identical. This is because the contents of the policies have been previously decided upon and set by the government.

The continuity of the policies between companies makes it much easier to select which one is right for you. There are many policies that are included starting from the most basic policy A, which is also the most affordable and going down the alphabet to policy L. Even though the inclusions in the policies between companies are the same it is still a good idea to shop around as the prices charged at different companies can lead to cost savings on the premiums.

There are different things that can affect the price of the premiums you can be charged through the insurance company. One of the main considerations is the age of the policy holder at the time of issue and another consideration is the area in which you live. Taking out your insurance early is important in order to get the best price premiums and avoid exclusion.

Nobody finds the idea of paying for insurance thrilling, but it is a necessary thing in order to avoid having huge health expenses as you age and in order to have peace of mind that you and your health are protected against the unforeseen. Look at the different policies of Medicare supplement insurance and choose which one blends best with your health needs and how much money you can afford to devote to the premiums.

if you know what is Medicare supplement insurance and understand the way that it works, then it is much easier for you to choose the right policy and have complete peace of mind in terms of your health now and into the future.

A Medicare supplement helps in filling in the space between the medical related costs covered by Medicare insurance and the actual medical expenses. Seniors can compare and contrast a whole series of possible Medicare supplements before making a final decision.

Tags: , , , ,
Posted in affordable health insurance | No Comments »

« Older Entries
Newer Entries »