MedicareBob

This Rate Watch Wednesday is focused on the Medicare Supplement Plan G for a male and female, ages 65 through 70, in Prescott, Arizona (zip code 86313). 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 $185. 

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. 

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/

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This Rate Watch Wednesday is focused on Medicare Supplement Plan G for a male and female, ages 65 through 70, in Toledo, Ohio (zip code 43604). 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. 

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/channel/UCy_avKva4VN0DBEgjP7I43w?view_as=subscriber

Medicare Supplement Plan D, is a true Medicare Supplement that works with Medicare to fill in the gaps to Medicare Parts A and B and pay the bills that Medicare does not pay.  It should not be confused with Medicare PART D, which are prescription plans that are specifically designed to cover your medications. 

Medicare Supplement Plan D is a very comprehensive plan. If you compare it to Medicare Supplement Plan F, which fills in all the holes to Medicare, there are only two differences to Medicare Supplement Plan D and Medicare Supplement Plan F. The Medicare Supplement Plan D does not cover Medicare’s very small Part B annual deductible of $185.00 for 2019. After you pay that Part B deductible, you’ll have no co-pays or any other out-out-pocket costs for Medicare covered services. Like all Medicare Supplement plans, the Medicare Supplement Plan D does not have any networks. You have the freedom to go to any doctor or any hospital in the country that accepts Original Medicare.

The last difference with Medicare Supplement Plan D from Medicare Supplement Plan F is that it does not cover Medicare Part B excess charges. Some doctors accept what is called the “assigned” rate for their work. Others charge a higher rate, but they cannot charge more than 15 percent more than the assigned rate.

For example, Medicare might decide that the fair “assigned” rate for a specific procedure should be $400. A doctor who accepts the Medicare assignment would bill at or below that rate.

However, your doctor may decide that $400 is not a sufficient reimbursement. Doctors are allowed to charge up to an additional 15% over and above what Medicare has approved. Therefore, in this case, your doctor could charge you $460 and you would be responsible for paying the additional $60 “excess” charge out-of-pocket ($400 X 15% = $60 excess charge) in addition to any deductible and co-pay.

These charges are rare and a good way to avoid them is to ask if your doctor accepts Medicare Assignment. Also, it should be noted that Connecticut, Massachusetts, Minnesota, New York, Ohio, Pennsylvania, Rhode Island and Vermont do NOT allow Medicare Part B excess charges so the Medicare Supplement Plan D would be a great option in these states because you would be protected from the Medicare Part B excess charges. 

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/

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Medicare Part C is also known as a Medicare Advantage Plan, and it is not a Medicare Supplement Plan. 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. Here is a breakdown of how the average Medicare Advantage Plan works: 

· Low monthly premium. Some plans have zero premium. Just remember that there is no such thing as a zero-premium plan. The premium that you would normally pay to your Medicare Part B now goes to the carrier that you have your Medicare Advantage Plan with. 

· Requires you to pay some bills when you use the Plan. You will have copays, co-insurance and sometimes a deductible. Some plans will not have co-pays and some will, it all depends on the carrier you choose and the area you live in because these plans coverage differs in every state even if it’s with the same carrier. 

· You have to go to certain Doctors, Hospitals and other Providers. HMO plans have strict networks of doctors and hospitals and PPO plans allow you to see doctors and go to hospitals outside of your network, however you will pay more for the services. 

· Has a max-out-of-pocket for your protection. Once you have paid a certain amount, the plan will pay the rest of your healthcare cost. For 2019, the average HMO’s max-out-of-pocket is around $6,700.00 and the PPO Plans are around $10,000.00 depending on whether you use doctors and hospitals inside or outside of your network. 

· Sometimes included added benefits like dental, vision, hearing and even a gym membership. However, keep in mind that these plans do not have to keep these benefits because Medicare does not cover these services so these plans are not required to cover them. 

· Some of these plans will include Medicare Part D coverage in the plan and some will not.

What is nice about a Medicare Advantage Plan is that they protect you from the 20% that Medicare doesn’t pay with an annual maximum of out pocket. Again, the national average maximum of pocket for an HMO plan is going to be around $6,700 and around $10,000 for a PPO plan.

If you have any questions regarding Medicare, it’s 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

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This Rate Watch Wednesday is focused on Medicare Supplement Plan G for a male and female, ages 65 through 70, in Cincinnati, Ohio (zip code 45207). 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. 

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/channel/UCy_avKva4VN0DBEgjP7I43w?view_as=subscriber

If you have a Medicare Advantage Plan and are unable to purchase a Medicare Supplement because of health issues or maybe it’s not the time of year you are able to switch, there are a couple, separate plans that you can purchase that will help offset the costs you have with a Medicare Advantage Plan and your exposure with a Medicare Advantage Plan. The two most popular are the Hospital Indemnity Plan and a Cancer Policy. The two biggest holes in a Medicare Advantage Plan are hospitalization and Cancer treatments.

Most Medicare Advantage Plans are going to charge you anywhere from $250 to $400 a day you’re in the hospital for each day, days 1 though 7. A Hospital Indemnity Plan will protect you from this charge. How it works is if you are hospitalized, you would pay the co-pay to the hospital that your Medicare Advantage Plan requires you to pay. After that, you would submit a claim to the insurance carrier and the Hospital Indemnity Plan would then pay you per day that you were in the hospital. For example: If the co-pay for hospitalization is $250 per day; you’re in the hospital and you had a Hospital Indemnity Plan, it would pay you that $250 or $300 a day depending on the plan that you choose. 

Two reasons that Cancer is one of the biggest holes in a Medicare Advantage Plan is first, that most Medicare Advantage Plans are going to require you to pay the 20% for chemotherapy or any other treatments you may need. The second is the Medicare Part D drug costs within the Medicare Advantage Plan. 

Cancer Policies are fairly affordable plans (premiums around $30 a month). They are very similar to the Hospital Indemnity Plan in that if you have a Cancer Policy and are diagnosed with Cancer, the insurance carrier will send you a lump sum amount to use towards your treatment. For example: If you have a Cancer Policy that provides a $10,000 benefit with your Medicare Advantage Plan and you are diagnosed with Cancer, you would file a claim with the insurance carrier and the carrier would send you a check for a lump sum of $10,000 to use towards any service or medications. 

If you have any questions regarding Medicare, its coverage or plans to work with your 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/MedicareB

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This Rate Watch Wednesday is focused on Medicare Supplement Plan G for a male and female, ages 65 through 70, in Cleveland, Ohio (zip code 44105). 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. 

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/channel/UCy_avKva4VN0DBEgjP7I43w?view_as=subscriber

The Medicare Supplement Plan M is a plan that Medicare insurance agents rarely about, however I feel that it may be the plan of the future. There are many talks on how the Medicare Supplement Plan N is the plan of the future with all the MACRA changes that are coming to the Plan F and the Medicare Supplement Plan N is a great plan. However, I just want to touch on the Medicare Supplement Plan M, what it covers and why I think it’s the Medicare Supplement Plan of the future. 

If you are looking into your options for coverage and you don’t quite see the value in spending the higher premiums for a Medicare Supplement plan such a Medicare Supplement Plan F, Medicare Supplement Plan G or Medicare Supplement Plan N but you also do not want the restrictions of Networks with Medicare Advantage Plans like with HMO’s and PPO’s; the Medicare Supplement Plan M might be the plan for you. The Medicare Supplement Plan M gives you the flexibility of a Medicare Supplement without dictating what doctors you can see and the premiums are much more affordable than some of the Medicare Supplements available. You would still need to purchase a separate Medicare Supplement Part D plan for your medications because, as with all the Medicare Supplement Plans, it does not cover medications. 

The Medicare Supplement Plan M covers the following: 

· Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are used up – 100% coverage 

· Part B coinsurance or copayment – 100% coverage

· Blood (first 3 pints) – 100%

· Part A hospice care coinsurance or copayment – 100%

· Skilled nursing facility care coinsurance – 100%

· Part A deductible ($1,364 for 2019) – 50%

· Part B deductible ($185 for 2019) – 0%

· Part B excess charges – 0%

· Foreign travel exchange (up to plan limits) – 80%

Medicare’s website has a list of all the Medicare Supplement plans so you can easily compare the plans to determine what Medicare Supplement Plan is the best suited for your needs.

The Medicare Supplement Plan G is still the Medicare Supplement Plan that I recommend over all because it is some of the best coverage you will ever have in your life. My goal here is to educate all seniors on all of their options. I would much rather you choose a plan instead of being sold a plan. 

If you have any questions regarding Medicare, it’s plans or what they cover 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

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SilverScript has brought it to our attention that there has been an issue with Medicare Part D’s billing. For those you that do not know, SilverScript is a Medicare Part D drug plan which is through CVS Caremark. They have brought it to our attention that anyone that selected to have their premium drafted for their Medicare Part D drug plan from their Social Security check or Railroad Retirement check may not have had the premiums drafted properly. They found that the issue with the premiums started February 1st. We do not know any information as to how the problem started or who was affected by this issue. Most people may not have noticed due to the fact that the premiums are fairly low.

This issue has not affected everyone however it has affected all carriers. SilverScript will be sending out information in the next two weeks explaining where the mistake was made with how your premiums were processed. Starting February 1st 2019, Medicare Part D premiums were not being taken out properly. They have since identified the problem and have fixed it; however, their systems are not allowing them to go back and take back premiums. 

Do not be alarmed if you receive a notification in the mail from your Medicare Part D provider in the next 2 to 4 weeks that’s going to share with you more details on what happened with their systems and how they have since corrected the issues. They are also going to include an invoice for the premiums and you will need to mail a check directly to your provider. Do NOT send it to Medicare or your agent or broker. You must be on the look out for this notification because if your Medicare Part D provider sends this invoice and receives no payment, they will consider your Medicare Part D plan in default and they will term or cancel your plan. 

This will not affect your Medicare Supplement premiums in any way. These two plans are totally separate and it will not affect your coverage or your premiums. Those are safe. 

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

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

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

Podcast - https://anchor.fm/MedicareBob

Twitter - https://twitter.com/MedicareB

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This Rate Watch Wednesday is focused on Medicare Supplement Plan G for a male and female, ages 65 through 75, in Greenville County, South Carolina (zip code 29601). 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. 

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

https://www.seniorhealthcaredirect.com/

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

https://anchor.fm/MedicareBob

https://twitter.com/MedicareBob

https://www.youtube.com/channel/UCy_avKva4VN0DBEgjP7I43w?view_as=subscriber

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