medicare supplement Archives - Page 4 of 5

2019 Medicare Deductibles & Copays Are Out

This past October, the CMS released the new rates for Medicare deductibles and copays for 2019. It is important to review the new rates to determine if it is affordable for you and your situation. If you can not afford the raised rates, then now would be the time to make some budget changes, or consider a Medicare Supplement plan. Most, if not all, Medicare Supplement plans will cover the deductibles and copays.

The New Rates

- Medicare Part A Hospital Deductibles have gone up $24 from 2018. It is now $1,364.

- Medicare Part A Deductible for a Skilled Nursing Facility for days 20-100 have gone up $3 per day since last year. The cost is now $170.50 per day.

- Medicare Part B Deductible has gone up $2 from 2018. It now costs $185.

- Medicare Part B Premiums have gone up $1.50 from 2018. Premiums will be $135.50 a month.

Annual income rates have increased; if your income was greater than $85,000 single or $170,000 couple, then you will face additional costs for Medicare Part B premiums. About $2.10 more a month.

*2019 Medicare premiums are going up based on income.*

The day before the Medicare rates were announced, the Social Security Administration had its own announcement. The Administration set a 2.8% cost-of-living adjustment, COLA, to 2019 social security benefits. Thanks to the “hold harmless” provision, almost 2 million Medicare beneficiaries will not have to pay the full Part B monthly premium payments of $135.50. Hold harmless is the guarantee that a Medicare beneficiary receives limiting how much their Part B premiums can go up. The premiums can not be greater than the increase in their Social Security benefits. However, this only applies to 3.5% of Medicare beneficiaries. So what are the rest to do?

Plan Ahead

*If you can not budget the new Medicare premiums for 2019, then a Medicare Supplement can help.*

Even though the costs have increased only by a couple of dollars a month, the $2 can add up throughout the year. It can change the budget for a lot of people, and some will be struggling to fit it into their budget. If you are one of these people who worry how you are going to pay these extra costs, then looking into a Medicare Supplement plan would be beneficial. There are 10 different kinds of Medicare Supplement plans that you can look into. Most of these plans will pay the deductibles and copays, and offer extra benefits that Original Medicare does not offer.

Researching and comparing the different kinds of Medicare Supplement plans can be frustrating. EZ.Insure offers highly trained agents in your region that specialize with Medicare Supplement plans. They can go over your needs with you, compare plans, and provide you with quotes instantly. To get a quote enter your zip code in the bar above, or contact an agent by calling 888-753-7207, or emailing [email protected]. We make the process easier for you, so you do not have to stress or miss an important detail.

When Can You Sign Up For Medicare Supplement

Medicare Supplement plans do not have annual enrollment periods, so it is important to know when to apply for one. The Medicare Supplement initial enrollment period is the time to sign up for a plan. It is important to utilize this period if you need help paying Part B costs, or if you have pre-existing conditions you need covered. During this time, you have guaranteed issue rights. This is your guarantee that companies will cover your pre-existing conditions without extra charge. What most people do not know is that you can also obtain guaranteed issue rights during a special enrollment period.

Must be 65 and already be enrolled in the original Medicare Parts A and B to qualify
Th best time to sign up for a Medicare Supplement plan is during the 7 month period of your 65th birthday. 3 months before your birth month, and the 3 months after.

Best time to enroll

The best time to enroll in a Medicare Supplement plan is during your Medicare Supplement Initial Enrollment period. This six-month period starts on first day of the month that you are both 65 or older and enrolled in Medicare Part B. Throughout this period, you can enroll in any Medicare Supplement plan offered in your service area with guaranteed issue. This means that insurance companies are not allowed to deny you or charge you more due to pre-existing conditions. If you have medical issues or disabilities, it’s especially important to take advantage of this period.

Special Enrollment Period

Guaranteed issue right means that companies must sell you a policy at the best available rate, regardless of your health status and cannot deny you coverage. If you miss your initial enrollment period, you can apply for a Medicare Supplement plan with guaranteed issue rights during a special enrollment period. The situations to be eligible for a special enrollment are:

Your Medicare Supplement insurance company goes bankrupt and you lose your coverage, or your Medicare Supplement policy coverage ends through no fault of your own.
You’re enrolled in Original Medicare and your employer coverage is ending.
You drop a Medicare Supplement policy or leave a Medicare Advantage Plan because the company did not follow the contractual obligations, commits fraud, or misled you.
You have Original Medicare and a Medicare SELECT plan and you move out of your plan’s service area.
You’re enrolled in a Medicare Advantage plan or PACE organization and move out of the plan’s service area, or your Medicare Advantage plan leaves the Medicare program.
You joined a Medicare Advantage plan, and within the first year of joining you want to switch to Original Medicare and Medicare Supplement.

You will run into problems if you try to buy a Medicare Supplement policy outside of your protected enrollment periods. Companies can refuse to sell you a policy, or will only let you buy one if you meet certain medical requirements. If an insurance company does agree to sell you a policy you will need to pay a higher monthly premium. You will also need to wait six months before the plan will cover pre-existing conditions.

A Medicare Supplement plan will help save you money. — *A Medicare Supplement plan will help save you money by offering more coverage than Original Medicare.*

What it covers:

All Medicare Supplement plans cover at least part of:

Your Medicare Part A and Part B deductibles
Skilled nursing facility costs after you run out of Medicare-covered days
Medicare Part A coinsurance and hospital costs (up to an additional 365 days after Medicare benefits are used)
Medicare Part B coinsurance or copayment
Part B excess charges
Part A hospice care coinsurance or copayment
Blood (first 3 pints)

Additional Information:

After January 1, 2006, Medicare Supplement plans are not allowed to include prescription drug coverage. If you would like prescription drug coverage, you can join a Medicare Prescription Part D plan.

The cost of your Medicare Supplement policy depends on the type of plan you buy, the insurance company, your location, and your age.

A standardized Medicare Supplement policy is guaranteed renewable even if you have health problems, as long as you pay your premiums on time.
People who have a Medicare Advantage plan cannot get a Medicare Supplement plan.
A Medicare Supplement policy only covers one person. If you and your spouse both want Medicare Supplement, then you must each purchase separate policies.
You can buy a Medicare Supplement policy from any insurance company that is licensed to sell one in your state.

Need help deciding if and when you can sign up for a Medicare Supplement plan? Here at EZ.Insure we are dedicated to helping you find the plan that is right for you. You will speak directly with one of our trained agents at any time by calling 888-753-7207, or emailing us at [email protected]. If you want to see quotes now you can put your zip in the bar above to get started. We will help you with any questions or concerns you have, free of charge!

The Annual Open Enrollment Period Is Almost Over!

The end of the Medicare Annual Enrollment Period is right around the corner. From October 15 through December 7, Medicare beneficiaries have the ability to decide if they like what they have, or if they would like to switch. If you have what you want then great, but if you are not satisfied with it, or looking to save more, it is best to do your research and make a decision soon. After December 7, you will not be able to make any changes, or add a Medicare Supplement or Advantage plan.

*During Medicare Annual Open Enrollment, you have different routes to choose that best fits your needs.*

Review Your Coverage

You will be provided with a handbook for next year’s coverage for Medicare. Take a look at the coverage, prices, and benefits. If you are not happy, or think you may need more benefits, then looking into a Medicare Supplement of Advantage plan is important. You can compare the different plans and see which one will help you the most. But you can only add these plans during the annual enrollment period.

The same goes for your Medicare Advantage or Supplement plans, you will receive an Annual Notice of Change for your plan.

Changes You Can Make

Once you make any change to your current insurance, it will take effect on January 1st. So what can you do during this period? You can:

Join a new Medicare Advantage Plan or Part D Plan
Switch between Original Medicare and Medicare Advantage.
Buy a Medicare Supplement Plan depending on where you live.

Research Your Options

Researching the different plans, and comparing the coverage and prices is a lot of work. You do not want to miss out on a great deal by overlooking or not doing enough research. Overlooking plans will cost you, but we will avoid that from happening. EZ.Insure compares plans of over 20 insurance carriers in your region. We compare all the plans and prices for you within seconds, and provide you with the information so you can choose the best option.

To receive instant quotes, you can enter your zip code in the bar above, or you can contact one of our highly trained agents. You will be given your own personal agent to work with, and not have to worry about jumping around agents. Your advisor will gather information and provide you with all of the plans available to you within your area. No obligation or fee. It is all done at no cost to you. Call 855-220-1144, or email us at [email protected] to get started. Let us take care of you, the research, and the sign up process, for free!

Planning Your Medicare Costs During Retirement

Many Americans are turning 65 every day, and can be overwhelmed with the retirement costs to come, especially when unprepared. It is important to plan for retirement and costs for Medicare. Most people underestimate the expenses during retirement. It is important to research medical costs and plan accordingly.

*As you get close to retirement, it is important to plan ahead for monthly Medicare costs. Medicare only covers 60% of costs, consider Medicare Supplement to cover the rest.*

Medicare only covers about 80 percent of costs, leaving retirees to pay the rest out of pocket. Over time, Medicare costs such as premiums will increase over time, so it is important to budget for this.

Find Out Medicare Costs and Additional Insurance

Depending on your preference, there are many possibilities for out-of-pocket expenses regarding your insurance. One of the main payments you will have are Medicare Part B monthly premiums and an annual Part B deductible. The annual deductible is roughly $183, and the monthly premium amount will depend on your income, which is on average $134 a month.

Medicare does not cover prescription drugs or dental and vision care, so if you would like extra coverage and relieve some of the financial burden, many people choose to buy a Medicare Supplemental Insurance or Medicare Advantage.

Long-term care insurance is also something you should consider, considering Medicare does not cover the majority of long-term care costs.

Figure Out Your Medicare Costs

It is important to account and budget for your medical costs within your retirement and social security funds.

*Monthly Medicare Part B Premiums for 2018. See how much your premiums will be.*

Medicare Part B premiums will depend mainly on your income.

There are 10 different kinds of Medicare supplement insurance plans to choose from. It is important to go over each plan, what they cover, and their costs to determine if it will fit within your budget. Plans F and G are typically the most popular because they offer the most coverage with an out of pocket limit. This means once you have reached the out of pocket limit, any other expenses will be covered by the company.

If you are looking into long-term care insurance, it can cost you nearly $100-$150 a month.

Taking all of these costs into consideration is important to determine your retirement costs, and have money left for other living expenses such as food, rent, etc.

Planning your budget during retirement can become very overwhelming. There are many different routes to choose when it comes to your medical needs. EZ.Insure can guide you in the right direction that meets your needs. We can help you estimate your budget and help you determine what you can afford with what you need. We can go over all the different kinds of Medicare Supplement Plans and Medicare Advantage Plans, and when you are ready, we can also help you through the process of signing up.

Enter your zip code in the bar above to get an instant quote. You can reach one of our knowledgeable agents within your region by calling 888-753-7207, or e-mailing [email protected]. Our agents will help you with any questions you have, and guide through the process step by step, all at no cost to you. No commitment, no bouncing from agent to agent, no hassle. We make it easy.

Mental Health Is Just As Important For Seniors

If a mental illness goes untreated, it can have a serious life impact on a person, leading to depression and even death. The National Alliance on Mental Illness states that depression is the number one cause of disability around the world. In order to battle this, it is important to seek professional help and utilize Medicare coverage for any of your mental health needs.

*Mental health affects seniors 65 and older. It is important to seek help before it worsens.*

The National Alliance on Mental Illness estimates that about one in five adults deal with some form of mental illness each year. About 20% of adults 65 and older in America are diagnosed with either schizophrenia, bipolar disorder, depression, anxiety disorders such as OCD (obsessive-compulsive disorder), and/or certain phobias. Medicare covers a large variety of these mental health illnesses within hospital inpatients and outpatients.

Medicare Part A (Hospital Insurance)

Medicare Part A covers services in either a general hospital or a psychiatric hospital when admitted as an inpatient. If you are in a psychiatric hospital, Part A coverage is limited to 190 days of services during your lifetime.

Medicare will pay for approved inpatient stays during your benefit period. Once you are admitted to the hospital, the copayment is $0 until you reach 60 days. After that, your benefit period ends and you begin paying a copayment of $335 for days 61-90 of each benefit period. After the 90 days, you will have to pay $670 per “lifetime reserve day” for each period (up to 60 days in your lifetime). After that, you will pay for all costs.

There is a lifetime limit of 190 days for inpatient psychiatric hospitals. For example, if you go to the hospital for psychiatric care in April and stay for 80 days, once you leave, that period is considered done and over. Now if you have to re-enter a hospital again for treatment in September, it is considered a new benefit period. You can keep starting a new benefit period at anytime and it will be covered until you have reached 190 days totaled between all the visits. The inpatient deductible for each benefit period (every time you start a new hospital stay) is $1,340 in 2018.

It is important to know that you will also still pay your 20% of the Medicare-approved amount for services received from providers while in hospital inpatient.

Medicare Part B (Medical Insurance)

Doctors help explain what is covered and what you can do. — *Talk with your doctor and find out how they can help and what is covered by your Medicare.*

Medicare Part B covers outpatient psychiatric services that are considered a substitute to inpatient care. The visits covered are those of psychiatrists, clinical social workers or licensed alcohol and drug counselors, clinical psychologists, and others. If you meet certain requirements, and a doctor says it is necessary, Medicare will cover you for individual or group psychotherapy, family counseling, and psychiatric evaluation.

Medicare can cover occupational therapy that is part of your mental health treatment as well as individual patient education about the condition you are diagnosed with.

When it comes to payment, you will pay the 20% of the Medicare-approved amount for the services from doctors who accept Medicare assignment. The Part B deductible will apply, which is $183 in 2018. If the services are provided in a hospital outpatient clinic, you may have to also pay a copayment.

Medicare Part B covers at no cost to you one depression screening every year, as long as the doctor accepts Medicare assignment. The screening has to be done at the corresponding doctor’s office or primary care that can provide follow-up treatment and referrals.

Ask Questions

Some recommendations by your doctor may not be covered by Medicare and will have to come out of pocket at full cost. So make sure to ask questions about the condition you are diagnosed with and whether Medicare will cover it.

If you have any questions regarding Medicare, and you are seeking coverage for mental health, EZ.Insure can help. We offer you your own highly knowledgeable agent for your region, to go over all the plans and what they offer. We provide you with quotes and will help you sign up, free of charge. Contact us through email at [email protected], call 855-220-1144 to get a quote, or enter your zip code in the bar above. We promise to help as much as we can to provide you with the most affordable plan.

Traveling Outside of the US? Consider a Medicare Supplement for Coverage

Retirement is the perfect time to begin traveling and enjoying your freedom. Original Medicare will cover your medical needs while traveling within the United States and American territories- Puerto Rico, Guam, and the Virgin Islands. Medicare’s network of doctors and hospitals are large around the U.S. However, the moment you decide to travel internationally, Medicare will not cover you in case of an emergency or other medical needs you might have. This is when a Medicare Supplement will be useful, because it will save you money and give you the coverage you need while abroad.

What a Medicare Supplement Plan Covers

Medicare Supplement plans cover travel bills outside of the U.S. — *Medicare Supplement can prepare you for any medical bills accrued while overseas.*

Standard Medicare Supplement plans C, D, F, G, M, and N provide foreign coverage. These plans will cover emergency care during the first 60 days of your trip, and pays about 80% of the charges. For example, Medicare Supplement Plan F will be cover up to $50,000 in foreign medical bills. In order to begin coverage for these plans, you must meet your $250 deductible first. This coverage of $50,000 is available to you every time that you travel outside of the U.S. and its territories, it is not just a one time deal.

During your Initial Enrollment Period there is no underwriting, meaning you will not have to worry about pre-existing conditions used against you for pricing. This bonus is something to think about and consider, especially if you do have major pre-existing conditions. Having these benefits while outside of the country will protect your wallet and your health. It is always better to be safe and protected than pay thousands out of pocket later. Not to mention, Medicare Supplement plans will cover more than just international travel medical fees. These plans will help reduce costs of copayments, coinsurance and deductibles that Original Medicare does not cover.

Need help?

It is better to travel and actually have fun without this worry in the back of your mind. Accidents can happen, even if you are careful, which is the reason this coverage is essential to have when outside of the U.S. If you are considering traveling outside the U.S., interested in a Medicare Supplement plan, or just have questions regarding what is offered and the difference between all the plans, EZ.Insure can help. EZ.Insure has highly trained and knowledgeable agents in Medicare Supplement plans. An agent will be able to assess your situation and find you the most affordable Medicare Supplemental plan that suits your needs. To get a quote, you can enter your zip code in the bar above, email [email protected], and call 855-220-1144.

Tag: medicare supplement