Medicare Supplement Insurance Isn’t Immune To Health Care Reform

About 80 years ago my great grandfather bought property on the bay in Orange Beach, Alabama.  My father spent time their growing up, as did I, and as is my son Wiley IV.  We usually go down for a week every summer, but the oil spill and busy work schedules made it impossible.

So now, in late September, we’re taking Wiley out of school for a week and going to hang out and relax.  I’ve been working hard on not working too much while I’m there, but with all the health care reform changes that are now happening, that may be challenging.

If you’re already enrolled in Medicare and you have a Medicare supplement plan you’re happy with, why should you be concerned about health care reform? Behind the scene, changes could affect what you’ll pay for your Medigap insurance in the years to come.

Health insurance, in general, depends on a balance among the people who buy insurance. Some of the insured will need more health care and insurers will spend more on their medical care, but those expenses will be offset by premiums from other members who have fewer medical bills for insurers to pay. Medicare supplement insurance is no different.

What would happen if a Medigap plan were closed to new members? As the insured age, they’ll most likely need additional health care, which will drive up expenses for the insurance company. What do insurers do when they must spend more on the insured? They typically raise their rates. Medigap plans purchased prior to June 1, 2010 are now closed to new members so the rates for these plans are likely to increase faster than normal in coming years.

You can rely on the specialists at MediGap Advisors to keep you informed of changes like this that can increase your health care costs. At www.MediGapAdvisors.com, you’ll find advice from one the national leaders in helping people make knowledgeable decisions to improve their health care coverage. MediGap Advisors offers direct professional assistance from their personal advisors who have extensive knowledge about the best way to supplement your Medicare coverage. You may reach us at 866-323-1441 and there’s no charge for our assistance.

Who can you count on?

Over the years I've talked to a lot of customers. I've asked them what they like and dislike about doing business with our competitors, and with us. We get a lot of great feedback, which we publish on our websites and other places.

But I want to let you know what else we hear, (but thankfully not very often about us!). People tell me how fed up they are with empty promises, lousy service, fine print, and crooks in both high and low places.

In this day and age of so many modern conveniences, the biggest frustration is often in finding someone you can count on. Someone who will do what they say they are going to do, and do it with a sense of urgency and accountability.

I get the frustration, which is why we work so hard on doing the opposite. We are a small team, and we pride ourselves on being someone you can count on.

Is Medicare and Medigap "clear as mud" to you?

If you’re confused by Medicare Part A and Part B, Medicare Advantage plans, Medicare Supplement plans and Part D prescription plans, you’re not alone. The one thing most people say about Medicare is that it’s complicated! If you don’t take some time to see what Original Medicare actually pays for, you could be blindsided by doctor and hospital bills that you’re not prepared to pay.

Here’s some help so you don’t feel like you’re wandering through an endless maze of Medicare jargon. Medicare’s Part A is basically for hospital coverage and Part B is for doctors. Part A deals with home health care, hospice, hospital and skilled nursing facility care. Part B handles services and supplies from doctors and other non-hospital providers.

You can rely on Original Medicare – that’s Part A and B – or you can get your Part A and B coverage through a Medicare Advantage plan from a private insurer. Advantage plans typically add coverage for dental, hearing and vision not available with Original Medicare. If you choose Original Medicare, you can use any one of 10 Medicare Supplement plans, also called Medigap plans, to pay for Medicare’s deductibles for doctor and hospital care, as well as co-pays to see doctors and co-insurance (the part of your bill you pay even with Medicare coverage). Like Advantage plans, Medigap plans offer benefits not found in Original Medicare.

To get prescription drug coverage with an Advantage plan, you must have Medicare Part A and B. You can get drug coverage with a Medicare Prescription Drug plan if you have either Part A or B. It’s just a matter of choosing a plan that will cover your medications (not all plans pay for all medicines) for the lowest monthly premium.

At MediGap Advisors, we realize there’s a lot to learn about Medicare, Medicare Advantage plans and Medigap plans. We’ve spent years building our comprehensive resources so we can answer your questions in simple, easy-to-understand terms. You can learn more about Medicare and how you can improve your Medicare coverage by visiting us online at www.MediGapAdvisors.com, or just call us at 866 323-1441. We can provide quick answers to simple questions, or assign your own Personal Advisor to help you compare plans that can improve your coverage under Medicare. There’s never a fee for our services and we can arrange for an “off-hours” telephone appointment time so you can have a relative join us. With professional help from the experts at MediGap Advisors, you don’t have to “guess” about your Medicare coverage any more.

Do You Dread Having to Make Sense of Medicare?

Just finished a wonderful Labor Day.. For the weekend we went down to Grand Junction for a wedding, and had a great time. My seven year-old son Wiley IV wowed everyone on the dance floor with his break-dancing moves (didn't learn that from me!), and Sunday night we helped friends harvest basil and make pesto.

Father and son

At the wedding, I got in a conversation with a guy who just turned 64, and is wondering about what to do when he goes on Medicare.

Most people are so put off by Medicare’s confusing explanations that they don’t understand what Medicare will really cover. Some people don’t even realize that Medicare won’t pay for their health care expenses until they reach age 65. That leaves many people unprepared for how much health care may cost them during retirement. Don’t fall into that trap.

Here’s some clarification that can help you get started decoding Medicare’s mysteries. If you get Social Security, you’ll be automatically enrolled in Medicare Part A and B when you turn 65. If you don’t get Social Security, you can apply for Medicare and Social Security at the same time three months before you turn 65. It’s important to enroll three months early to ensure your Part B start date is not delayed.

If you or your spouse paid FICA withholdings through employment, Part A will probably be free. If it’s not, you may be able to buy Part A if you are at least 65, enrolling in or entitled to Part B and you meet U.S. citizenship or residency requirements. You may also be able to buy Part A when you’re under 65, disabled and your free Part A coverage ended because you went back to work. Part A helps with hospitalization, but don’t expect it to pay for all of your hospital bills.

Part B helps to cover doctor services, home health services, lab tests, outpatient care, services at hospitals when you’re not admitted and services from other medical non-hospital providers. Everyone has to pay a monthly premium for Part B, so you’re not required to accept Part B coverage. If you don’t sign up for Part B when first eligible, you may have a penalty for late enrollment if you change your mind.

You don’t have to be afraid of Medicare. It can certainly be confusing, as it was for my new wedding acquaintance. But our team is really good at making things clear and simple; we've learned how to explain Medicare in “plain English” so you can be sure you’re protected from health care costs, and know the best way to do that. You can learn more at www.MedigapAdvisors.com.