MedicareBob

MedicareBob

By Robert W. BacheBusinessInvesting
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MedicareBob episodes

  • Medicare Supplement Underwriting - Aetna Medicare

    Medicare Supplement Insurance Underwriting  

      Medicare Supplement plans require medical underwriting in order to switch plans. So whether you are shopping for another Medicare Supplement plan with a lower premium or wanting to switch from a Medicare Advantage plan to a Medicare Supplement, you will have to answer medical questions after your first initial Open Enrollment period.  

       Everyone has the opportunity to get a Medicare Supplement when they first turn 65, or when they first start Medicare Part B, without having to medically qualify. This is called your Open Enrollment Period and it begins 6 months before and ends 6 months after your 65th birthday or your Medicare Part B start date. After that time frame, everyone is subject to medical underwriting.  

       The Medicare Supplement medical underwriting process only consists of around 20 medical questions, there is no physical or lab work. There are around 30 different carriers that offer Medicare Supplements and they all have different guidelines. In general, most carriers want at least a two-year stable bill of health.

        Senior Healthcare Direct is licensed and appointed with over 30 of the top Medicare Insurance carriers for this reason. Every year we perform annual policy reviews for our clients and having access to these carriers allows us to shop every possible option for our clients. As for any potential clients, if they are not able to medically qualify with one carrier, we will research all of our licensed carriers for a carrier that will approve them.


     If you have any questions regarding Medicare, please give our office a call at 1-855-368-4717 or visit one of our pages:   

    Website - https://www.seniorhealthcaredirect.com/

    Facebook - https://www.facebook.com/MedicareBob/

    Podcast - https://anchor.fm/MedicareBob

    Twitter - https://twitter.com/MedicareBob

    YouTube - https://www.youtube.com/c/RobertBache... 


    #MedicareSupplementUnderwriting #AetnaMedicareSupplementUnderwriting2020

    13 min
  • Medicare Supplement Underwriting - Mutual of Omaha Medicare Supplement Underwriting 2020

    Compare Medicare Supplement Plans Here: https://www.seniorhealthcaredirect.com/quote-3/  

    The following article was taken from our website at www.seniorhealthcaredirect.com/medicare-supplement-insurance-underwriting/  Medicare Supplement Insurance Underwriting February 20, 2020/in Medicare Supplements (Medigap) /by Brian Kondas  

    Medicare Supplement insurance underwriting is NEVER required when you are first eligible and Apply for Medicare during your initial Open Enrollment Period (OEP). This is a 7-month period: 3 months before you turn 65, the month you turn 65, and 3 months after you turn 65. As a result, you can NEVER be disqualified for coverage based on your health condition during this period. In other words, you can have health conditions and your coverage will NOT be denied. Moreover, the plan can NEVER charge more if you have health issues during OEP. When you apply for Medicare during this period your acceptance into a Medigap Plan is guaranteed. According to Medicare.gov the best time to buy a Medigap policy is during your open enrollment period.  

    When is Medigap insurance underwriting required? 

    • If the first time you enroll in Medicare Supplement Plan is AFTER your initial Open Enrollment Period, Medigap underwriting is required. In other words, you did NOT apply for Medicare during your initial OEP. 
    • When you switch to a different Medigap Plan after your initial Open Enrollment Period, then underwriting is required. 
    • Likewise, when you switch from Medicare Advantage Plan to Medigap Plan after your initial OEP, then underwriting is required.  

      • Anytime you apply for Medicare Supplement Plan (Medigap) outside your initial Open Enrollment Period (OEP), you will have to answer underwriting questions. Medigap policies are sold by private insurance companies. As a result, some underwriting questions insurance carriers ask will be different. However, many insurance companies ask similar questions. The following are the most common underwriting questions.....

      Please read more here: https://www.seniorhealthcaredirect.com/medicare-supplement-insurance-underwriting/  

      If you have any questions regarding Medicare, please give our office a call at 1-855-368-4717 or visit one of our pages:  

      Website - https://www.seniorhealthcaredirect.com/ 

      Facebook - https://www.facebook.com/MedicareBob/ 

      Podcast - https://anchor.fm/MedicareBob 

      Twitter - https://twitter.com/MedicareBob 

      YouTube - https://www.youtube.com/c/RobertBache?_confirmation=1

      11 min
    • New Jersey Medicare Supplement Quotes - New Jersey Medigap Rates - Ocean County Plan G Quotes

      Compare Medicare Supplement Plans Here: https://www.seniorhealthcaredirect.com/quote-3/  

      This Rate Watch Wednesday is focused on the Medicare Supplement Plan G for a male and female, ages 65 through 75, in Ocean County, New Jersey (zip code 08701). Medicare Supplement Plan G is the most comprehensive Medicare Supplement Plan and it offers the greatest value. It allows you to keep your doctor and hospital, so you can go anywhere in the country that accepts Medicare. The only out of pocket with the Medicare Supplement Plan G, after the premium, is Medicare’s very small Part B annual deductible of $198.   

      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 are 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 G covers the following services: 

      • The Medicare Part A hospital deductible – if you are hospitalized with the Medicare Supplement Plan G, you will have no hospital bill. 
      • Medicare Part B coinsurance or co-payment – there are no co-pays with the Medicare Supplement Plan G. 
      •  Blood (the first 3 pints) 
      •  Medicare Part A hospice care coinsurance or co-payment 
      • Skilled nursing facility care coinsurance 
      • Medicare Part A coinsurance and hospital costs up to an additional year after Medicare benefits are used up 
      •  Medicare Part B Excess Charges – This is when doctors are allowed to charge up to an additional 15% over and above what Medicare has approved. 
      •  Foreign Travel benefits – this covers foreign travel emergency care if it begins during the first 60 days of your trip, and if Medicare doesn’t otherwise cover the care. It pays 80% of the billed charges for certain medically necessary emergency care outside the U.S. after you meet a $250 deductible for the year and has a lifetime limit of $50,000. 
      •  There is no out-of-pocket limit 

        •  If you have any questions regarding Medicare, its coverage or its plans, please give our office a call at 1-855-368-4717 or visit one of our pages:  Website - https://www.seniorhealthcaredirect.com/

         Facebook - https://www.facebook.com/MedicareBob/ 

        Podcast - https://anchor.fm/MedicareBob 

        Twitter - https://twitter.com/MedicareBob 

        YouTube -https://www.youtube.com/c/RobertBache?_confirmation=1

        8 min
      • Can you Keep Plan F - Best Medicare Supplement - 2020 Medicare

        Compare Medicare Supplement Plans Here: https://www.seniorhealthcaredirect.com/quote-3/

        There seems to be a lot of confusion with the Plan F now that it’s 2020. In this video, Robert Bache “MedicareBob” will be breaking down what is going on with the Medicare Supplement Plan F for 2020.

        First topic is “Can you keep your Plan F?” The answer is Yes, if you have the Plan F or Plan C before January 1st, 2020 you will be grandfathered into those plans.

        Medicare’s website states:

        “Starting January 1, 2020, Medigap plans sold to new people with Medicare won’t be allowed to cover the Part B deductible. Because of this, Plans C and F will no longer be available to people new to Medicare starting on January 1, 2020. If you already have either of these 2 plans (or the high deductible version of Plan F) or are covered by one of these plans before January 1, 2020, you’ll be able to keep your plan. If you were eligible for Medicare before January 1, 2020, but not yet enrolled, you may be able to buy one of these plans.” https://www.medicare.gov/supplements-other-insurance/how-to-compare-medigap-policies

        The next topic is “Should you keep your Plan F?”There has been some serious debate on whether or not you should keep the Plan F or switch to the Plan G or Plan N. The Plan F is a great plan, however with the changes that have been made to the plan, it is not the most cost-effective Medicare Supplement plan.

        1. Medical Underwriting. Most people do not realize that in order to switch any of the Medicare Supplements you must medically qualify. Many people are saying they want to wait to switch because they want to wait to see if the premiums will increase with the Plan F.  However, if in a year or more you want to switch, it may not be possible because of health reasons. Now, if you already have the Plan F and have pre-existing conditions, you should definitely keep it because the coverage will be much better than a Medicare Advantage plan which will most likely be the only plan you will qualify for.

        2. Part B Deductible Increasing. The Part B Deductible is likely to continue increasing. This will also cause the Plan F Premiums to increase at a higher rate than Plan G or Plan N. Let me explain: Imagine that Plan F, Plan G and Plan N all have one million people in each plan and the Part B deductible increases by $20. The one million people in the Plan G and Plan N all pay their own deductible so the insurance company is not going to have to pay any more money for the clients in those two plans. However, the one million people in the Plan F have their deductible paid by the insurance company. So, the Plan F is going to cost the insurance company $20 million more that year because of that increase in the Part B deductible. Who do you think will pay for that? Definitely not the carrier.

        3. Guaranteed Issue plan. The Plan F is still going the be the G.I. plan for anyone that is able to purchase the Plan F before January 1st, 2020. Over the next 10 years, anyone that qualifies for a G.I. plan will still be a much older group of people than the Plan G. Statistically, the older we get the more we will go to the doctor/hospital. The more claims in any plan, the higher the premiums.

        If you have any questions regarding Medicare, please give our office a call at 1-855-368-4717 or visit one of our pages:

        Website - https://www.seniorhealthcaredirect.com/

        Facebook - https://www.facebook.com/MedicareBob/

        Podcast - https://anchor.fm/MedicareBob

        Twitter - https://twitter.com/MedicareBob

        YouTube - https://www.youtube.com/c/RobertBache?_confirmation=1

        13 min
      • Plan F or Plan G: Best Medicare Supplement for 2020

        Compare Medicare Supplement Plans Here: https://www.seniorhealthcaredirect.com/quote-3/   

        Plan F and Plan G are Medicare Supplements. They are designed to work with your Medicare, so Medicare pays 80% of your medical bills and the supplement would come in and pay the rest. The Plan F is the "Full Coverage" plan. It covers the 20% completely. You have no bills except for your monthly premium. The Plan G is almost exactly the same and the Plan F, the only difference is that the Plan G doesn't pay Medicare's Part B annual deductible of $198.00. After you meet that deductible, you have no medical bills, everything is covered just like Plan F. There are three main reasons Plan G is a better choice than Plan F: 

        1.  Simple Math: Plan F costs $600 more per year in premium than Plan G, so why pay plan F $600 more when the only difference in benefits is that Plan G has a small $198 deductible? That is just giving more money to these big insurance Carriers for no reason. 
        2.  Rate Stability: 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. 
        3.  The Part B  Deductible is likely to continue increasing. This will also cause the F Premiums to increase at a higher rate than Plan G.

          4.  If you have any questions regarding Medicare, please give our office a call at 1-855-368-4717 or visit one of our pages:  

          Website - https://www.seniorhealthcaredirect.com/ 

          Facebook - https://www.facebook.com/MedicareBob/ 

          Podcast - https://anchor.fm/MedicareBob 

          Twitter - https://twitter.com/MedicareBob 

          YouTube - https://www.youtube.com/c/RobertBache?_confirmation=1

          5 min
        4. What is the Medicare Advantage Open Enrollment Period?

          Compare Medicare Supplement Plans Here: https://www.seniorhealthcaredirect.com/quote-3/  

          Medicare Advantage Open Enrollment Period  

          This description is taken directly from Medicare's Website: 

          https://www.medicare.gov/sign-up-change-plans/joining-a-health-or-drug-plan  


          What can I do?  

          • If you’re in a Medicare Advantage Plan (with or without drug coverage), you can switch to another Medicare Advantage Plan (with or without drug coverage). 
          • You can drop your Medicare Advantage Plan and return to Original Medicare. You'll also be able to join a Medicare Prescription Drug Plan.  


            • What can't I do?  

            • Switch from Original Medicare to a Medicare Advantage Plan. 
            • Join a Medicare Prescription Drug Plan if you're in Original Medicare. 
            • Switch from one Medicare Prescription Drug Plan to another if you're in Original Medicare. 


              •  When?  

              • January 1–March 31  


                • Note: If you enrolled in a Medicare Advantage Plan during your Initial Enrollment Period, you can change to another Medicare Advantage Plan (with or without drug coverage) or go back to Original Medicare (with or without a drug plan) within the first 3 months you have Medicare.  

                If you have any questions regarding Medicare, please give our office a call at 1-855-368-4717 or visit one of our pages: 

                 Website - https://www.seniorhealthcaredirect.com/ 

                Facebook - https://www.facebook.com/MedicareBob/ 

                Podcast - https://anchor.fm/MedicareBob 

                Twitter - https://twitter.com/MedicareBob 

                YouTube - https://www.youtube.com/c/RobertBache?_confirmation=1

                2 min
              • 2020 Medicare Part D Announcement - Medicare Part D - Medicare Mistake

                A huge Medicare Part D Update for 2020. This is very important for anyone that used Medicare’s Part D Plan Finder when shopping for their Medicare Part D plan for 2020.

                In October, Medicare decided to roll out a new and “improved” Part D Plan Finder on their website on October 1st, 2019 only two weeks before the Annual Enrollment period. Unfortunately, the information in the Plan Finder was found to be conflicting with the information from the Part D carriers. Zip codes were incorrect, pharmacies, the premiums but most importantly the costs of the medications. There were numerous errors with their system. Unfortunately, anyone that was shopping for their Part D plan without the assistance of an agent or broker wouldn’t know if there were errors in the system and took their information as gospel.

                This has resulted in many seniors with the wrong Part D plan. Luckily, Medicare has admitted the mistake and has allowed a Special Election Period under this specific circumstance. On Medicare’s website it reads: “If you believe you believe you made the wrong plan choice because of inaccurate or misleading information, including using Plan Finder, call 1-800-MEDICARE and explain your situation. Call center representatives can help you throughout the year with options for making changes.”

                You can find this information under this link to Medicare’s website: https://www.medicare.gov/sign-up-change-plans/when-can-i-join-a-health-or-drug-plan/special-circumstances-special-enrollment-periods

                Senior Healthcare Direct’s customer service agents have tested this SEP and it works! So please, if you feel that you have purchased the wrong Medicare Part D plan because of incorrect information on their Plan Finder, give Medicare a call and explain the situation to them and they will correct the mistake and put you on the Part D plan that’s best for you.

                If you have any questions regarding Medicare, please give our office a call at 1-855-368-4717 or visit one of our pages:

                Website - https://www.seniorhealthcaredirect.com/

                Facebook - https://www.facebook.com/MedicareBob/

                Podcast - https://anchor.fm/MedicareBob

                Twitter - https://twitter.com/MedicareBob

                YouTube - https://www.youtube.com/c/RobertBache?_confirmation=1

                4 min
              • North Carolina Medicare Supplement Quotes - North Carolina Medigap Rates - Charlotte Plan G Quotes

                Compare Medicare Supplement Plans Here: https://www.seniorhealthcaredirect.co... 

                This Rate Watch Wednesday is focused on the Medicare Supplement Plan G for a male and female, ages 65 through 75, in Charlotte, North Carolina (zip code 28269). Medicare Supplement Plan G is the second most comprehensive Medicare Supplement Plan and it offers the greatest value. It allows you to keep your doctor and hospital, so you can go anywhere in the country that accepts Medicare. The only out of pocket with the Medicare Supplement Plan G, after the premium, is Medicare’s very small Part B annual deductible of $198.  

                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 are 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.

                If you have any questions regarding Medicare, its coverage or its plans, please give our office a call at 1-855-368-4717 or visit one of our pages:  Website - https://www.seniorhealthcaredirect.com/

                Facebook - https://www.facebook.com/MedicareBob/

                Podcast - https://anchor.fm/MedicareBob

                Twitter - https://twitter.com/MedicareBob

                YouTube -https://www.youtube.com/c/RobertBache...

                7 min
              • Medicare Advantage vs Medicare Supplement: 2020 Medicare Plans Explained

                Compare Medicare Plans Here: https://www.seniorhealthcaredirect.com/quote-3/  

                Medicare Advantage Plan: A Private Company provides a health plan that you will use instead of using your traditional Medicare.  Medicare Advantage has a lower monthly premium. However, it requires you to pay some bills when you use the Plan. You will have co-pays, co-insurance and sometimes a deductible. Furthermore, you have to go to certain Doctors, Hospitals and other Providers (HMO / PPO). Most importantly, it has a max out of pocket for your protection. Therefore, once you have paid a certain amount, the plan will pay the rest of your healthcare cost. For example, in 2019 most HMO’s max out of pocket were around $4,000.00 and the PPO Plans were around $6,700.00. Lastly, Medicare Advantage plans may  include added benefits like dental, vision, even a gym membership.  

                Medicare Supplement Plan: Medicare ( Parts A and B ) are your primary insurance and 2020 Supplement Plan pays the bills that Medicare would normally make you pay.  You can go to any Doctor, Hospital, or Provider in the Country that accepts Medicare. Moreover, you will very rarely have a healthcare cost other than your monthly premium. (My favorite Supplement Plan is the Plan G, once you pay the first $198.00 of your medical bills, you are done for the rest of the year!) However, it does have a higher monthly premium then a Medicare Advantage Plan. For example, a Supplement is usually between $80.00 and $120.00 per month.  One important thing to remember when choosing between a 2020 Medicare Advantage plan and a 2020 Medicare Supplement: if you chose a Medicare Advantage plan and later you want to upgrade to a Medicare Supplement plan, you are subjected to medically qualify. This is a huge factor in making a final decision between the two plans.  

                If you have any questions regarding Medicare, please give our office a call at 1-855-368-4717 or visit one of our pages: 

                 Website - https://www.seniorhealthcaredirect.com/ 

                Facebook - https://www.facebook.com/MedicareBob/ 

                Podcast - https://anchor.fm/MedicareBob 

                Twitter - https://twitter.com/MedicareBob 

                YouTube - https://www.youtube.com/c/RobertBache?_confirmation=1

                15 min
              • Medicare Mistakes: How to Avoid Mistakes with Medicare

                Compare Medicare Plans Here: https://www.seniorhealthcaredirect.com/quote-3/

                If you currently have a Medicare Advantage Plan and you’re looking at upgrading to a Medicare Supplement (Medigap), the mistake many agents make is they will make your Medicare Supplement plan effective for January 1st and they will submit your Part D drug plan for you as well making it effective for January 1st. This is a huge mistake!

                The issue with this is that as soon as they submit your drug plan, it will automatically kick you off your Medicare Advantage Plan. Because there are only a few days left of the Annual Enrollment Period, you will not know in the next couple days whether or not you’ve been approved for the Supplement Plan.

                This is how the series of events will unfold to the mistake that could cost you your Medicare Health insurance coverage: The agent will submit your Medicare Supplement application with an effective date of January 1stalong with the Part D drug plan. You will be approved for the drug plan immediately and it will cancel your Medicare Advantage Plan because that’s how the Medicare system is set up. Unfortunately, in another week or so, you will find out that you were not medically approved for the Medicare Supplement and now you are left with only Original Medicare A and B with a Part D plan for your medications.

                The best way to avoid this mistake is to INSIST that your agent makes the Medicare Supplement policy effective date for February 1stand wait to submit the Part D drug plan until January. There is a second enrollment period that runs from January 1st to March 31st which allows you to go from a Medicare Advantage Plan to a Medicare Supplement.

                If you have any questions regarding Medicare, please give our office a call at 1-855-368-4717 or visit one of our pages:

                Website - https://www.seniorhealthcaredirect.com/

                Facebook - https://www.facebook.com/MedicareBob/

                Podcast - https://anchor.fm/MedicareBob

                Twitter - https://twitter.com/MedicareBob

                YouTube - https://www.youtube.com/c/RobertBache?_confirmation=1

                4 min

              About MedicareBob

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              This is MedicareBob, a Podcast created to empower Seniors with Medicare knowledge.