Jae'$ Corner Podcast

Thanks to KRWM and radio host Kate Daniels. It is my 3rd appearance with her, she is host that understands how important Medicare is.Pre-order the 2020-2021 Edition of Maximize Your Medicare here: https://amzn.to/2HsnMBvBe sure to subscribe and rate on Apple Podcasts! email / feedback: [email protected]

December 7 is approaching very quickly. If you want to enroll in / change a Medicare Advantage Plan or Part D (standalone prescription) Plan, then now is the time. There are important details on the podcast.Be sure to subscribe to and rate the Podcast on Apple Podcasts (or wherever) and subscribe to the YouTube channel!

Scheduled for 30 minutes, my November 23rd appearance on The Financial QB, with host Josh Jalinski, went for two hours.

You can hear that many people have ongoing questions regarding Medicare.Thanks to Josh and WOR!

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Guest: Jim Goldmann, Medicare enrollee and Author of the Voyager series.I speak with Jim, we discuss his circumstances prior to enrolling in Medicare (he's 67 years old). We discuss COBRA, the complications of enrolling in Medicare, and the end results.We speak about his very interesting fictional series, you can buy online here: https://amzn.to/2Wh2pZT

Pre-Order the 2020-21 edition of Maximize Your Medicare here: https://amzn.to/2Wf7lhU

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email / feedback: [email protected]

There is a YouTube video where I reviewed a Medicare For All vs the Public Option. There is going to be a lot of noise and mud-slinging as the Democratic debates re-start. Figuring out what is true, what is not, and how it may affect you is important because they are very different, and that involves Medicare coverage, and ultimately, how we will pay for potential expansion of Medicare (it's via taxes).

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email / feedback: [email protected]

You can become eligible for Medicare Part A & B & D after 24 months of receiving Social Security Disability Insurance benefits. However, people make mistakes from that point, and the Social Security Administration's communications of rights and options may not be sufficient for you to understand that the Late Enrollment Penalties "calculation period" for Part B & Part D have started. So either a) you do not have health insurance and creditable coverage for prescriptions, subjecting you to the permanent Late Enrollment Penalties, or b) you have health insurance with prescription coverage from the private market, in which case you are likely paying way too much.Be sure to subscribe and rate on Apple Podcasts!

email / feedback: [email protected]

Sorry, it's not the Mother of Thrones Podcast.... Case #1: Medicare Annual Election Period and Open Enrollment Period are over. That means you cannot enroll in Medicare, Medicare Advantage, or Part D, unless you qualify for a Special Enrollment Period. It's important, because people frequently make mistakes, and there's a twist for those that are late. Case #2: If you have lived abroad and are relocating back to the US, you need to know what you can and cannot do, prior to repatriating.

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My comments on the national debate. Caveat: these are going to be entirely different by the time that the Democratic nomination and the general election occur. 100%.

Watch the trailer and read what a retired hospital CEO & CFO says about the book: https://youtu.be/l0ChK-6meDY

Here are the "highlights" of the proposed changes to Medicare.

Block grants for Medicaid

Part D discount doesn't count for your Part D Coverage Gap calculation

Lower CMS rates to hospitals

The practical reality is that it will be very difficult to pass these. The implications of the proposals are meaningful.

Fiscal and demographic pressure exists on the CMS

Part D discount not counting will make it more important to check your Part D or MAPD every year

While this is going to look like a political fight, these two bullet points exist irrespective of "red state" or "blue state," or whatever other name-calling you will see in the future.  While "anything can happen" is a convenient phrase, these bullets points are not that. They are known, what we have always known, and that people don't understand the implications. Enter a certain book on Medicare matters.

The Wide Gulf Between Uncertainty and Gambling

Blue Cross Blue Shield of MI "Legacy Plan C" Example

One of the laziest, most inaccurate over-generalizations people make? "We can't predict the future, so insurance is like gambling." Nope and it's an expensive lesson people do learn, and when they do, it is frequently too late.

Background In 2016, this Newsletter existed, and you could read "BCBSM Legacy" premiums. It was an alert, that BCBSM held rates artificially low, due to a legal agreement it made, and the expiry date approached. Further, there was a "way out" into alternative, much cheaper and very similar coverage (Plan N).

I contacted the carrier after the "free get out" period expired, and stunningly, the carrier told me that over 70% remained in the existing Legacy plan. That told me a number of things:

People didn't correctly know the options

People didn't believe me

It is fine, I call the second point "Tuesday," i.e. this happens all the time. The entirety of every article and the book?

We cannot predict the future, but we know the inputs to how decisions are made by the carrier, and the we should know that the carriers are smart, but have to play by the rules of regulation and fierce competition.

We know that the ripple effects can last a long time.

The Definition of Gambling People lump together the idea of "uncertain outcomes" with "gambling." Gambling is when you know and understand the probability, and when you choose to do something that run opposite to that knowledge. Insurance carriers are not in the business of gambling. That said, they have to adhere to regulations, and cannot set the price too high, because there are other, equally-smart sellers. Look at the evidence:

Medigap pricing in Midland MI for T65 female: TEN SELLERS within $10/month. We don't need to know a thing to know this is the correct price, the topic does not need to be Medicare/health insurance/blahblahblah.

Medicare Advantage: 5% profit margin.

Exceed 20% profits? Federal regulations to return the difference to you.

We Are Grateful to Those That Listened The fact is that we guided people out well before this occurred (years), because this outcome was self-evident. We literally shepherded as many people out as would listen to our reasoning. Sometimes the outcome is unknown (a hurricane doesn't exactly strike a predicted target), but since we knew the rationale, this wasn't "anything can happen" situation. It was entirely loaded towards "this is very, very likely to occur."

Does this exist elsewhere in the world, on financial matters? You bet. GH2 Unfiltered.

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