Your Medicare Benefits

After nearly 30 years of helping folks to learn, understand and to educate them on the numerous benefits of Medicare, I developed this handy easy to download tool.  This tool is something you should complete ( not to worry, ... it should only take about 10 minutes ) with your insurance broker when shopping for Medicare and deciding between an Advantage or Supplement plan.  Take this checklist with you when you are meeting/shopping for the best Medicare plan with your insurance broker.

 

Please don't forget to subscribe to this channel for more timely updates and special announcements and some great saving tips.  OneSourceBenefits.com/medicare.

 

Thanks,  Tracy

Today's brief podcast announces and explains some of the changes coming to Medicare for 2018.  These are some of the changes that I am asked about daily with Medicare beneficiaries.   It is hard to believe it has taken this long to make these changes but they are surely some important changes you will approve of.  Please remember to subscribe now to Your Medicare Benefits Podcast channel.  Lots of great news and money saving tips to announce for seniors.  The program deals with issues and topics relative to Medicare Supplement, Medicare Advantage and Medicare Part D plans.

Today's brief podcast announces and explains some of the changes coming to Medicare for 2018.  These are some of the changes that I am asked about daily with Medicare beneficiaries.   It is hard to believe it has taken this long to make these changes but they are surely some important changes you will approve of.  Please remember to subscribe now to Your Medicare Benefits Podcast channel.  Lots of great news and money saving tips to announce for seniors.  The program deals with issues and topics relative to Medicare Supplement, Medicare Advantage and Medicare Part D plans.

MEDICARE SUPPLEMENT- The Pros and Cons

Are you trying to unravel all the different Medicare Supplement plans? What about the Medigap Plans. Did you know there are 11 different Medicare Supplement and Medigap Plans. Which one is best for you? Are any of them affordable and how do they work? Can I keep my doctor? Will this Medicare Supplement be accepted everywhere I want to go?  These are the questions I am going to answer today for you so you can stop "googling" all those different websites and God forbid, calling one of the carriers direct or an association or even a call center.

First, a Medicare Supplement and Medigap plans are the exact same plans.  There is no difference.  The terms are simply marketing names but both are identical.  Some carriers use the word Medigap while others just call it thigh traditional name of Medicare Supplement.

If you are in within 3 months of your birth month, before or after your birth month or possibly the month of your birthday, there is no underwriting as long as you are in your initial open enrollment period.  generally this period is after you loose your employer coverage or are about to turn 65.

 I will assume you already have done your homework and have either applied for or secured your Medicare Parts A and B coverage.  You must have these important coverages before. you can purchase a Medicare Supplement.

Medicare Supplement plans are sold by Insurance Carriers.  There are many many ( maybe even too many ) Medicare Insurance carriers.  Benefits are identical, the only difference is the premiums and some bells and whistles.

Medicare supplement plans are designed to fill in the cracks as to what Medicare does NOT cover.  This can be significant.

Now for the Pros and Cons:

The Cons first:

This one is easy.  There are not many cons to having a Medicare Supplement plan.  One may be the cost ( usually around $110 for Plan G and $155 for Plan F on average).   When you annualize this of either approximately $1320.00 for Plan G to $1860 for Plan F and compare that to your current healthcare premium today, I think you'll agree this sounds pretty good.  

Plan G has a small deductible to pay annually ( right now he deductible is $187.00 per year )..  That's it.

Plan F has no deductible, copays, coinsurances or any out of pocket expenses.  It is also commonly know as the " Cadillac Plan"

The " Cadillac Plan ", Plan F will go off the market in 2020. However if you have this plan in place prior to 2020 you can keep it the rest of your life.

Plan G is here to stay!!

Medicare Supplement Plan F and  Medicare Supplemetn Plan G are the two most popular plans by a wide margin.

The Pros:

Well actually there are many.  Not only the Plan F and G descriptions  listed above are considered pro's but the following are also considered important.

The network of providers, both hospital and Doctor is nationwide.  Compare this to the Medicare Advantage plans and this is huge.  The In Network consist of providers is any doctor or hospital in the United States that accepts Medicare.  I believe that is most providers and hospitals.... Although the there are some( a very small percentage ) who do not accept Medicare. 

If you are relatively healthy, there really is no annual open enrollment period when you can change or switch plans.  If your health has declined, changing carriers or plans may be difficult.

If you get sick, you can NEVER be cancelled. Nor will your particular medical expenses determine your rate or any rate increases.

Medicare Supplements are the most common way to cover your healthcare costs in your senior years.

The competition among insurance carriers is heavy but there are a few Insurance carriers who really specialize in this field.

Some Medicare supplement carriers even offer a true FREE GYM membership.

My passion as a Medicare Expert is to help you navigate, educate, and understand and to you enroll in the best plan for you.

Are you trying to unravel all the different Medicare Supplement plans? What about the Medigap Plans? Did you know there are 11 different Medicare Supplement and Medigap Plans. Which one is best for you? Are any of them affordable and how do they work? Can I keep my doctor? Will this Medicare Supplement be accepted everywhere I want to go?

These are the questions I am going to answer today for you so you can stop "googling" all those different websites and God forbid, calling one of the carriers direct or an association or even a call center.

Medicare Advantage: The Real Pro's and Con's: If you have watched any television recently, you will more than likely have seen an ad for a Medicare Advantage program.  You will have likely have seen some of these Medicare Advantage programs have a zero premium or in other words " Your Medicare Advantage Program is free".  These types of programs are very appealing to some people, but you have to make sure you clearly understand what a Medicare Advantage program will and will not do for you.  Additionally, there are two types of Medicare Advantage programs so here we are going to peel off the cover of these programs and help you understand how these this type of Medicare Advantage program may or may not help you.

First, if you are soon to turn age 65 you are likely getting bombarded with solicitations on both the Medicare Advantage and Medicare Supplement programs.  Your initial eligibility to enroll in these types of programs is generally 3 months before your birth month, the month of your birth day and three months following your birth month. Also, please note, any Medicare Advantage or Medicare Supplement will be effective on the first day of the month.

So what is a Medicare Advantage program and how does it really work?

Assuming you have a general understanding of the Four Parts of Medicare and if not here is a link to Medicare Part A, B, C and D. I also assume you have Medicare Parts A and B already in place, understood or have applied for Medicare Part A and B.

Well, a Medicare Advantage replaces traditional Medicare or Medicare Parts A and B.  If you do not select a Medicare Advantage and just go with Medicare, than your claims are handled by Medicare. If you have a Medicare Advantage plan than you are working with a traditional Medicare Insurance carrier such as AETNA, Medical Mutual or Blue Cross Blue Shield or one of the many other carriers involved in the Medicare Advantage. 

What is a "regular" or "traditional" Medicare Advantage?

Well this is where the "free or zero premium" Medicare differs greatly.  The Medicare Advantage program that is advertised as "free" or zero premium, generally involves a VERY NARROW network of doctors and hospitals.  I want to stress the word very narrow networks.  The networks is something you really have to do your homework on because you may be in for a very big surprise.  For example, many larger cites and even some rural facilitities have more than one hospital.  It is not unusual for these Advantage networks to include one facility and not the other one.  Further if you travel outside that network, let's say you go on vacation,  and need some healthcare, if you are outside your Advantage network you may ( and probably will NOT ) have access to a in network doctor or hospital.  Of course if you are having a life threatening illness like a heart attack or become unconsciousness, you would be more than likely have coverage for that particular injury or illness.  But, if you are in need to see a doctor and your illness or sickness is not considered life threatening, you probably do not have any coverage and will have to pay the entire claim. 

What is a Medicare Advantage " select" plan?

This plan works similar to the traditional Medicare Advantage plan mentioned above with one basic exception, the network is a bit larger than the traditional network mentioned above, however you still will not have nationwide access to hea;th are, doctors or hospitals.  The select plan does have a premium associated with the plan. The chart below will illustrate some actual pricing samples, however your rate in your particular zip code or county will be unique to that area. 

Not to be too confusing but just to be clear, some insurance carriers offer one or the other type of plan above while others will offer both a select and a traditional Medicare Advantage plan.

Two final issues to be sure you are aware of:

1.There has been much in the news about the longevity and sustainability of the ...

Are you confused about all the differences in Medicare Advantage and Medicare Supplement Plans?  Which one is best for you? Well before you make your final selection as to which route you want and desire for your health care needs ( likely for the rest of your life), you need to properly compare a Medicare Advantage vs. Medicare Supplement Plans.  Which one is right and best for you?

Perhaps, and possibly, for the first time in your life, you really have to look at and understand the Medicare Advantage and/or a Medicare Supplement Plans.  As a note of clarification, a Medicare Supplement is commonly also referred to as a Medigap Plan.  Both mean the exact same thing.  The more common and accepted term is Medicare Supplement Plan.

Each plan has it's own merits and benefits that you should investigate and uncover.  Although both plans are Federal Insurance Programs plan benefits MUST be exactly the same, the differences in both the monthly premiums and " bells and whistles" along with some discount opportunities could truly add up.  Statistics prove out that once you make your selection for your Medicare plan, initially, most people do not or more importantly can not change plans ever again.  What keeps me up at night is those people, who call me because they initially dealt with the insurance carrier direct, a call center or an association and bought what they thought was the best Medicare Plan, and now they want to change their plan but cannot change their Medicare Supplement or Medicare Advantage plan ever again.

The best way to properly investigate which type and eventually which plan is best for you is to consult with an experienced ( I mean someone with 10 years or more ) unbiased, independent insurance expert.  This Medicare decision is vitally important and buying a plan from a call center or an association is truly NOT in your best interest.

My passion as a Medicare Expert is to help you navigate, educate, and understand and to you enroll in the best plan for you.  I am NOT a call center and will likely answer your call when you call me directly at 877-549-1212. I have set aside time every day to help you avoid choosing the wrong Medicare Plan. My consultation is completely free, for a limited time only. I invite you to contact me personally to discuss your situation, while I still have the time. I have 29 years of expertise in Medicare and I look forward to helping you with your insurance needs.

Call me today at 877-549-1212

Best Medicare Supplement Discounts and Saving Tips.  Unless money grows on trees in your backyard, you'll want to listen in to these unique top tips to save on your Medicare Supplement. For some reason, many " Medicare Sales Agents" never talk about these benefits yet they could end of saving you thousands over your lifetime if you understand the options, discounts and "freebies" given to you if you enroll in the right Medicare Supplement Plan.

Want this done right?  I get it! Just call me

Call me today at 877-549-1212

( I actually answer my own phones )

The most popular question I receive on a daily basis is " What is the Best Medicare Supplement Plan" for me or my spouse. It really boils down to three choices. Plan F, Plan G or Plan N. I will walk you through, step by step, the three most popular plans offered by Medicare today. Well, those are the top three plans nationwide, but it is important to understand how each plan will work and why one of these plans is likely to best for you. Medicare offers 11 plans nationally, but not all carriers in your market may offer one of these three or any of the other 8 plans in your particular zip code or county. Insurance carriers offer three different ways to make plans available to you depending on whether it is a statewide offering or plans are offered by zip code or on a county-wide basis.

Before you select your Medicare Supplement Plan, find out the real difference in Medicare Supplement Plans F and G Comparison.  Check out the differences in costs and the benefit differences as well.  It has been reported that Medigap Plan F will be taken "off the market" starting in 2020, but if you have this plan prior to 2020, I am told you can keep this plan, often called the " Cadillac or Rolls Royce Plan".  Not all insurance carriers offer Plan G yet, so tune in to see how you can best evaluate which plan is best for you both now and down the road.  Some insurance carriers will offer both Plans F & G.  It is very important to select the right Medigap plan for you as you will likely not change this plan again, the remainder of your life.  If you select the wrong Medigap plan and end up with a major illness like a heart attack, diabetes or some other major disease including cancer you will likely be declined.  So take your time and do the research and talk to someone who has experience and truly knows the Medicare options, benefits and prices that best fit your needs and expectations.  Having an advocate and trusted resource for Medicare is like having a good attorney or CPA who can help you throughout the year to be on call or answer questions year round. A good Medicare Supplement expert can also help you select the best Medicare Drug Card as well.  A Part D Drug card is something you will need to look at yearly.

 

My passion as a Medicare Expert is to help you navigate, educate, and understand and to you enroll in the best plan for you.  I am NOT a call center and will likely answer your call when you call me directly at 877-549-1212. I set aside time every day to help you avoid choosing the wrong Medicare Plan. My consultation is completely free, for a limited time only. I invite you to contact me personally to discuss your situation, while I still have the time. I have 29 years of expertise in Medicare and I look forward to helping you with your insurance needs.

Call me today at 877-549-1212