medicare advantage Archives - Medicare Supplemental Tx

2016 Changes to Medicare

The 2016 Changes to Medicare were found throughout the parts of Medicare. Since most people do not pay a Part A premium, that change is kind of irrelevant. There were some changes to what you pay under Part A deductible and coinsurance but none as noteworthy as the Part B changes. The Part B deductible and Part B premium both changed in 2016. View the chart below to see the exact differences.

Please note … The standard Part B premium amount if you enroll after 2016 is $121.80 (or higher depending on your income). However, most people who get Social Security benefits will continue to pay the same Part B premium amount as they paid in 2015. This is because there wasn’t a cost-of-living increase for 2016 Social Security benefits.

You’ll pay a different Part B premium amount if:

You enroll in Part B for the first time in 2016.
You don’t get Social Security benefits.
You’re directly billed for your Part B premiums.
You have Medicare and Medicaid, and Medicaid pays your premiums. (Your state will pay the standard premium amount of $121.80.)
Your modified adjusted gross income as reported on your IRS tax return from 2 years ago is above a certain amount.

How will the 2016 Changes to Medicare effect me?

The 2016 changes to Medicare may effect each person differently. If you only have Original Medicare, then your overall out-of-pocket costs will be greater. If you have a Plan F, you may see your actual supplement premium increased. If you have a Plan C, G, or any other plan that didn’t pay the Part B deductible … your premium may not have increased as much, but you will notice when you go to the doctor you will pay a little more the first of the year over what you paid last year. If you have Part C, or a Medicare Advantage Plan, then you may see changes when the plan renews for next year. Regardless of the specifics, the 2016 changes to Medicare will have some effect on everyone who is on Medicare currently or who will be enrolling.

Need more information?

If you would like to shop for Medicare Supplemental Plans or need help with Medicare give us a call, we will be happy to help 877-740-8683 or locally 936-756-6199.

2016 Medicare Open Enrollment

Most people don’t realize that the 2016 Medicare Open Enrollment Dates only apply to people who are wanting to make changes to their Medicare Advantage (Part C of Medicare) and prescription drug plan (Part D of Medicare). Each year, open enrollment runs from October 15 to December 7. Therefore in 2016 it will begin on October 15, 2015. That is the time for you to shop around for a new Medicare Advantage Plan (Part C of Medicare) or a new Prescription Drug plan (Part D of Medicare).

So first of, to be clear, as far as enrolling in Medicare, you can do that as soon as you are eligible … no matter what month it is. Most people become eligible when they turn 65, and begin enrolling in Part B up to 3 months before their 65th birthday month.

It is only during open enrollment that you can switch from original Medicare to Medicare Advantage (Part C of Medicare), or vice versa. Also, if you find that another Medicare Advantage plan (Part C of Medicare) will fit your needs, or has a broader network, you can switch from one Medicare Advantage plan (Part C of Medicare) to another. Same with a prescription drug plan (Medicare Part D), you can switch from one plan to another during open enrollment or drop your prescription drug plan (Medicare Part D) coverage altogether. However, you may incur penalties later on if you go without a prescription drug plan (Part D of Medicare) – we would not advise this. Especially since you can get prescription drug plans (Part D of Medicare) for generally under $20 a month.

Now for people who are on a Medicare Advantage plan (Part C of Medicare), who miss the open enrollment but who just want to go back to original Medicare, there is also a Medicare Advantage disenrollment period (MADP) that runs from January 1 to February 14 each year. At that time, you could opt to switch back to original Medicare and then sign up for a prescription only plan (Medicare Part D). Most people will do this if they are going from a Medicare Advantage Plan (Part C of Medicare) to a Medicare Supplement Plan.

For 2015 coverage, open enrollment is over for Medicare. Medicare Advantage (Part C of Medicare) and prescription drug plans (Medicare Part D) ended on December 7, 2014, and the Medicare Advantage disenrollment period ended on February 14, 2015. Remember, you can enroll year-round in Medicare if you are newly-eligible.

For more information or to shop plans, visit us at www.emedigap411.com call 877-740-8683 or email.

Medigap Continues to Grow

Recent studies shoe that Medicare Supplement, or Medigap, policies continue to grow in popularity. With over 10.5 million people enrolled in Medigap as of 12-31-2013, that represents a 3.8% growth over the previous year. People are also overwhelmingly satisfied with their Medigap coverage. 94% are satisfied with their coverage, 95% consider it a good value, and more than 9 out of 10 would recommend Medigap to their friends and family. You just don’t see that level of satisfaction with under 65 Health Insurance. Plan F continues to be the most popular choice, with 52% of plans purchased. Plan G, our pick for best value, and Plan N are growing in market share. One of the only complaints a person can have with Medigap is the price. While rates do go up, you are always able to change to a new Medigap policy at any time. Medigap policies are not subject to the lock in period that Medicare Advantage has. If you are turning 65, or new to Medicare, give us a call at 877-740-8683, and we will help you find the best rate. If you have a current plan, and would like to make sure you have the lowest price, you can also call, or visit www.emedigap411.com , for a free personalized price comparison.

I have Medicare, do I need to go to healthcare.gov?

All of our customers on Medicare Part A & B (or C) and possibly D are asking … “How is all this Obamacare gonna affect me?”

Well, no need to worry, you don’t need to do anything to your Medicare plan because it isn’t part of the healthcare.gov site. If you have Medicare, you are basically already covered.

No matter how you get Medicare, whether through Original Medicare with a Medicare Supplement, or through a Medicare Advantage plan, (like an HMO or PPO) you don’t have to make any changes.

If you want to shop around for a Medicare Supplement plan or Medicare Advantage plan, you will not be able to shop rates on the Marketplace (healthcare.gov) … just give us a call and we can help you with that part or go to www.eMedigap411.com

If you only have Medicare Part B, most people do not know this, but you are not considered to have minimum essential coverage. That means you would be subject to the penalty that people who don’t have coverage may have to pay.

If you only have Medicare Part A, you are considered covered, and of course if you have Part A and Part B you are covered.

One thing has changed and that is Medicare has expanded benefits for preventive care and drug coverage. They now have free preventive benefits, cancer screenings, and annual wellness visits. You can also save money while in the “donut hole” with discounts on brand-name prescriptions. (No the donut hole is not a place to eat! It is when your total drug costs reach a certain point while you are covered under a Medicare Part D Prescription drug plan.

If you are new to Medicare, here are some things to remember:
– Medicare’s Open Enrollment Period (October 15-December 7)
– To learn more about your Medicare options visit www.eMedigap411.com

If you have any family and friends who don’t have health insurance, or if they want to see what their subsidy amount might be, tell them to call us or visit www.healthreformenrollmentcenter.com

Texas Universal Health Care Plan Termination-Deadline

As previously published, Universal Health Care plans in Texas terminated 5-1-2013. For those members that were enrolled in one of these plans, there is an important deadline approaching. These members have until 6-30-2013, to have a Special Election Period to enroll in another Medicare Advantage plan, or have a Guranteed Issue opportunity to purchase a Medicare Supplement, or Medigap plan. If you or someone you know was enrolled in one of these plans, please call 877-740-8683, to discuss your options before the deadline.

Update on Universal Health Care Plan Termination in TX

We published an article last month, Medigap Guaranteed Issue-Plan Termination, that had valuable information for anyone who was affected by the Universal Health Care plan terminations in FL, and several other states. At the time, the Universal Health Care HMO plans in TX and NV were not included in the plan termination. Since then those entities have terminated their contract with the Centers for Medicare and Medicaid Services(CMS), by “mutual consent”. In addition, the Texas HMO has also been placed in receivership. The members that were enrolled in these plans lost their coverage on 5-1-2013, and were returned to Original Medicare. The good news for these members is that they will have a Special Enrollment Period until June 30^th 2013. During this time, they will be able to choose a new Medicare Advantage plan that is available in their service area. More importantly, this will trigger a Guaranteed Issue opportunity for these members to purchase a Medicare Supplement, also known as a Medigap policy, without having to answer any health questions. A lot of these people have had health conditions that would have made them unable to purchase a Medigap policy in the past, so it is very important to know the options, and deadlines, so they don’t miss this opportunity. If you or someone you know has been affected by any of these plan terminations, Please call 877-740-8683, or visit www.emedigap411.com for more information.

Reminder: Anyone that was involved in the earlier plan termination on 4-1-2013, will have a deadline of May 31^st 2013.

Medigap Plan N a Popular Choice

While the most popular Medigap policy remains the Plan F, there are a couple of plans that have become attractive options for many people. While the Plan G Medigap most closely resembles the Plan F, and is actually our favorite choice, many customers have been considering the Plan N. There is some cost sharing associated with the Plan N, such as $20 co-pay for doctors, and $50 co-pay for Emergency Room. Those are costs that are similar to what most people are used to paying with their under 65 Health Insurance, so they really aren’t that bad. The biggest caution we give our customers that want to switch to a Plan N is the Part B Excess. This simply means that with a Plan N, if your provider doesn’t accept Medicare Assignment, you could be responsible for and additional 15% on Part B services. If your providers do accept Medicare Assignment, however, the Plan N can be an attractive option. We have found that the Plan N is a great fit for our customers who have been on a Medicare Advantage plan, but did not like the network restrictions and out-of-pocket costs. If you would like to compare Medigap options, and see if Plan N is right for you, just give us a call at 877-740-8683, or visit www.emedigap411.com .

Medigap Guaranteed Issue-Plan Termination

We recently received notification that a certain Medicare Advantage Carrier(units of Universal Health Care) had gone into receivership. Since Medicare Advantage plans are not Guaranteed Renewable, this means that the members in those plans no longer have coverage. The members were automatically switched back to Original Medicare. While this could cause a lot of disruption for those members, especially those currently undergoing treatment, there is a silver lining. The members will have a Special Election Period for 2 months, during which time they can choose another Medicare Advantage plan. More importantly, this also triggers a Guaranteed Issue opportunity to purchase Medicare Supplement. During this 2 month time period, you can’t be turned down for a Medigap Plan F (or A, B, C, K, or L), regardless of your health conditions. When we find someone in this situation, that doesn’t have a health condition that would require a Guaranteed Issue, we can usually save them the most money by applying for an underwritten Plan G Medicare Supplement. It is an important time, and a person in this situation really needs to know their rights, so they can make the best decision for their future coverage. If you or someone you know is in this or a similar situation please call 877-740-8683, or visit www.emedigap411.com , and speak to a licensed Insurance Agent.