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What Is a Medicare Flex Card?

Have you ever seen commercials for flex cards for Medicare beneficiaries? These cards are advertised every year around the Annual Enrollment Period, which runs from October 15th to December 7th, and are touted as a great benefit for seniors. So if you’ve seen these ads, you might be wondering what flex cards are and if they are a scam. Find out what a flex card is, if you qualify for one, and how to use it if you do opt to get one.

What Is a Medicare Flex Card?

heart in between a doctor and a card — *Medicare flex cards are used to purchase medical equipment and other health-related items.*

Medicare flex cards are debit cards that a Medicare beneficiary can use to purchase medical equipment and other health-related items. These cards are issued by a private insurance company, not by Medicare, and are only available with specific Medicare Advantage Plans. They are usually linked to a flexible spending account, and have spending limits that vary by plan and carrier.

How Is a Flex Card Used?

A Medicare flex card is not a cash card and cannot be used to get cash back. It’s a prepaid type of debit card that can be used toward the cost of extra dental, vision, and hearing services. You can also use it to pay for:

Medical equipment
Copayments and deductibles
Prescription and OTC medications
Diagnostic devices

Once you use up the money on your card, you won’t be able to use the card again until the start of the next benefit year. Unused funds might not roll over to the next year; check your benefits statement for details.

Avoid Medicare Flex Card Scams

Some Medicare flex card advertisements are scams that just want to collect your private information, credit card number, and Social Security number. To avoid Medicare flex card scams, look out for: illustration of a person in black standing behind a webpage with a person on the other side holding a card

Ads that say flex cards can be used to pay for gas and groceries
Ads that say flex cards are universally available to Medicare participants
People that contact you first, without your permission
Middlemen who get paid to refer you to insurance companies

If You Are Looking For Extra Coverage…

A Medicare flex card might be a good option if you’re looking for a way to help pay for medical expenses, but a surefire way to get more coverage is a Medicare Supplement Plan. A Medicare Supplement Plan can help you pay for the medical expenses that aren’t covered by Medicare Part B. One of these plans can help you save hundreds, or maybe even thousands of dollars each year.

There are 10 different plans to choose from, and depending on which plan you choose, you could get anywhere from 75% coverage of your medical expenses up to 100%. Each plan offers a range of coverage at different price points and can help save you money and keep you from stressing over medical bills, leaving you with more time and energy to focus on your health.

EZ can compare all 10 Medicare Supplement Plans and find the one that will meet your financial and medical needs. Our agents work with the top-rated insurance companies in the nation, which makes comparing plans easy, quick, and free – our services come at no cost to you because we just want to help you save money so you can focus on your health. To get free instant quotes on plans that cover your doctors, simply enter your zip code in the bar above, or to speak to a local licensed agent, call 888-753-7207.

5 Things You Can Do Now to Prepare for Medicare’s Annual Enrollment Period

The Medicare Annual Enrollment Period is back, which means it’s time for you to see if there is a Medicare option that better suits your needs and budget. From October 15th to December 7th each year is the only time you can make changes to your Medicare coverage, so make sure you take advantage of this time! To help you do so, we’ve given some tips to help guide you to more savings, more coverage, and free help.

Changes You Can Make During the AEP

If you do decide that you want to change your plan, you need to know what changes you can make during the AEP. You can:

Switch from Original Medicare (Parts A and B) to a Medicare Advantage Plan
Switch from a Medicare Advantage Plan back to Original Medicare, as well as enroll in Part D or a Medicare Supplement Plan alongside Original Medicare when you switch
Switch your current Medicare Advantage Plan to a different one
Switch from a Medicare Advantage Plan that includes drug coverage to one that does not
Switch from a Medicare Advantage Plan that does not have drug coverage to one that does

Planning Ahead

Now that you know what you can do during the AEP, let’s take a look at ways you can be prepared to make the most of it:

Don’t wait until the deadline to make decisions! This is one of the worst things you can do, because not only will you feel rushed to make a decision, but you may end up missing out on savings, such as subsidies that you might qualify for.
Talk to your doctors and make sure they will accept Medicare in the coming year. Providers can join and leave a plan’s provider network at any time during the year, which could leave you scrambling to find a new doctor that does accept Medicare. If you talk to your doctor in advance, you can begin looking for a new doctor (that you like) who does accept Medicare.
Review your Annual Notice of Change (ANOC), which you should have gotten in the mail this fall. This document lists any upcoming changes to your plan’s coverage, cost, or service area. Make sure that any changes to your plan work in your favor; if they don’t, it might be time to begin searching for a new plan. The best way to do this is to compare plans with a knowledgeable EZ agent.
Make a list of all the prescription drugs that you take and check if they will be covered by your current plan in the new year. If not, look for a plan that will cover all your medications.
Working with a reputable EZ agent is a must if you want to find the most savings and the best plans that will provide the coverage you need. Researching and comparing plans from different companies can be time-consuming, confusing, and overwhelming. EZ agents work with the top-rated companies in the nation and can compare quotes within seconds.

Compare & Find the Perfect Plan Early

The best way to prepare for the Medicare Annual Enrollment Period is to begin comparing plans from different companies. This allows you to digest all of your available options and gives you the power to choose the best one for you.

Not only will an EZ agent help you with this, but our services come at no cost to you because we just want to help you save money so you can focus on your health. To get free instant quotes on plans that cover your doctors, simply enter your zip code in the bar above, or to speak to a local licensed agent, call 888-753-7207.

Avoid These 4 Common Medicare Annual Enrollment Mistakes

If you are new to the Medicare Annual Enrollment Period (AEP), which begins October 15th and ends December 7th, it might seem overwhelming or confusing at first. But it’s important to take the time to compare your options during this enrollment period, otherwise you’ll most likely be leaving money on the table. You might end up paying too much in premiums or miss out on a great plan that could save you money and give you the extra coverage you need.

Even if you are not new to the Medicare Annual Enrollment Period, there are certain mistakes that you should avoid making that could cost you next year.

1. Not Checking If the Annual Enrollment Period Is for You

The Medicare Annual Enrollment Period is often confused with Medicare Open Enrollment, but these are two separate things. Medicare Annual Enrollment is for people who have already enrolled in Medicare and want to switch from Original Medicare to Medicare Advantage or vice versa. You can also switch from one Medicare Advantage plan to another, or from a Medicare Part D prescription drug plan to another.

On the other hand, the Medicare Open Enrollment Period is your 6-month period when you turn 65; at this time, you can enroll in Medicare for the first time.

2. Overlooking Changes In Your Life

It is very important to analyze any changes in your life, including changes to your medical needs and financial situation when determining what you need to do during the AEP. Your medical or financial situation may have changed over the past year, which means your coverage will also need to change. For example, if you have gotten married or lost a spouse, your income tax is lower than expected, or you have developed a medical condition that requires more medical coverage, you will need to reassess your coverage. You will need to find a plan that fits your budget and still meets your needs.

3. Assuming Your Providers Will Be in Network Next Year

This is a very big mistake that many Medicare beneficiaries make going into the new year. Every year, your current Medicare plan will undergo changes, and one of these changes could be changes to your network and who is covered by your plan. Your current doctors and preferred pharmacy may no longer be in your plan’s network for the following year, so it is important to double-check in case you need to change plans for next year.

4. Focusing On Premiums Alone

When looking to save money, people will often focus on the price of premiums alone. They won’t factor in the out-of-pocket cost of Medicare, including co-pays, deductibles, and coinsurance costs. But when searching for a plan, it’s important to include all costs that are going to end up coming out of your pocket, so you know what to expect and know you can afford it. That way you can also choose the plan that covers everything you need it to cover, even if it’s not the cheapest plan.

If You Need Help…

If you’re finding that Original Medicare isn’t enough for you, a Medicare Supplement Plan is a great option to look into. A Medicare Supplement Plan can help you pay for the medical expenses that aren’t covered by Medicare Part B. One of these plans can help you save hundreds, or maybe even thousands of dollars each year.

What is The 8-Minute Medicare Rule?

If you are new to Medicare, then you probably have not heard of the 8 Minute Medicare rule. It is a phrase that many Medicare beneficiaries come across, but do not know exactly what it means or pertains to. If you are a seasoned Medicare beneficiary, then you might be familiar with Medicare’s 8-minute rule. It is important to understand what the 8-Minute Rule is because the term can be misleading and confusing.

What Is The 8-Minute Rule?

stopwatch — *The 8-Minute Rule applies for outpatient services that are provided between 8 and 22 minutes.*

The 8-Minute-Rule was introduced in December 1999 and became effective on April 1st, 2000. It is a stipulation that applies to time-based CPT codes (Current Procedural Terminology codes) for outpatient services that are provided between 8 and 22 minutes. A typical outpatient service in which the CPT code applies is physical therapy. It allows practitioners to bill Medicare for one unit of service if its length is at least 8 minutes but fewer than 22 minutes. A billable “unit” is the time interval for the service, and under the 8-Minute-Rule, you need the service to consist of 15 minutes each.

How Does the 8-Minute Rule Work?

The rule applies only to services when the practitioner has direct contact with the patient, so it has to be in person. If you have received more than one service, then Medicare will be billed based on the total timed minutes per meeting. If you are seen by the doctor for less than 8 minutes, then Medicare will not be billed for it.

Services are billed in 15-minute units, so if you are seen by a doctor for 20 minutes, Medicare will be billed for one unit, because the number falls between 8 minutes and 22 minutes. If you are there for let’s say23 minutes, then Medicare can be billed for two units. If the service takes 38 to 52 minutes, then the healthcare provider can charge for three units, and so on as the 15-minute interval pattern continues. The chart below can help guide you:

Outpatient providers that follow the 8-Minute-Rule include:

Private practices
Rehabilitation Facilities
Skilled Nursing
Home Health agencies
Hospital outpatient Departments

A Medicare Supplement Plan can help provide extra coverage and savings throughout the year.

Extra Coverage

Medicare Part B, which covers the costs of most medical services, only covers 80% of these costs. This will leave you with the remaining 20% to pay out-of-pocket, but a Medicare Supplement Plan can help you pay for the medical expenses that aren’t covered by Medicare Part B. One of these plans can help you save hundreds, or maybe even thousands of dollars each year.

5 Things to Consider Before Medicare Annual Enrollment

The Medicare Annual Enrollment is a time for seniors to take a look at their health care needs and coverage. It is starting in a few weeks, beginning October 15th and ending on December 7th. So, now is a good time to start thinking about all the things that you need to consider beforehand so you are fully prepared and have all the coverage you need without any extra out-of-pocket cost.

1. Check to see if your plan’s benefit or cost has changed.

Has your current plan premium gone up? Or has your plan gotten rid of some benefits that you might need? Reviewing a change to your Medicare coverage is a major consideration because your Medicare Plan may have changed from the previous year which can affect your coverage and how much you pay out of pocket. Once you review your current plan, and have come to the conclusion that there are significant changes that are out of your budget and needs, then it may be time to shop for a new plan.

2. See if your prescription drug coverage has changed.

It is no secret that prescription drug costs for Medicare beneficiaries have been on the rise. It is important to review and make sure that your drugs are still covered and also to see if your medication copays have changed or moved to a different drug tier. Also, you will want to double-check and make sure that your preferred pharmacy is still covered under your current plan.

3. Make sure your doctor is still in your network.

Doctors, hospitals, and other health providers can shift in and out of networks. It is important to make sure that your current doctor that you want to keep seeing is still within your network and is not leaving for the following year.

4. Consider your costs.

Going to the doctor is important, but sometimes if you have a chronic condition, then it is more necessary than others to see the doctor and receive medication regularly. Consider how much you spent annually on premiums, co-pays, and deductibles because sometimes the cost will add up to more than you think. If so then it is time to consider other options to see if there is a plan that is cheaper or has the benefits that you need for your health care needs.

5. Travel Plans

Are you considering traveling in the near future? When you are traveling with Medicare, it can be tricky. That is why it is important to understand how each plan’s travel coverage works. original Medicare does not cover services overseas, however, some Medicare Supplement Plans will.

If you are looking to enroll in Medicare, purchase a Medicare Supplement Plan, or are just weighing your options before the AEP is over, EZ can help. Our agents work with the top-rated insurance companies in the country and can compare all available plans in your area, at no cost to you. We will go over your medical and financial needs, and help you find a plan that checks all of the boxes. To get free instant quotes on plans that cover your current doctors, simply enter your zip code on the side, or to speak to a local licensed agent, call 888-753-7207.

How Inflation Is Affecting Projected Medicare IRMAA Brackets for 2023

Every year, Medicare rates go up, and so the brackets for the Income-Related Monthly Adjustment Amount, or IRMAA, also change. Knowing the IRMAA brackets is important because if you make a certain amount, you could end up paying more for Medicare. While the IRMAA brackets are not out for 2023 yet, they will be released within the next 2 months. Let’s look at some projections, so you can be better prepared for next year.

What is IRMAA?

As we pointed out above, IRMAA is short for Income-Related Monthly Adjustment Amount, which is an additional surcharge for higher-income Medicare beneficiaries. The theory behind scaling Medicare rates is that those who have higher incomes can afford to pay more for their premiums, so can put more money into keeping Medicare going. That means there is an additional monthly charge for Medicare Part B and Medicare Part D premiums for people who can afford to pay these additional charges.

How Is the IRMAA Calculated?

The adjusted gross income you declare on your taxes dating back two years will determine how much you will pay for your Medicare premiums. For example, your 2023 Medicare Part B and D premiums will be based on your tax return from 2021.

Projected IRMAA Brackets for 2023

The 2023 IRMAA brackets have not been finalized yet; typically the next year’s brackets are determined as soon as the Social Security Administration announces its cost of living adjustment (COLA), which is usually in November or December. It is expected, though, that the IRMAA will increase to more than $91,000 for individuals and $182,000 for joint filers, meaning beneficiaries making more than that amount can expect to pay more in Medicare premiums.

gold piggy bank — *The best way to save is by working with an agent and investing into a Medicare Supplement Plan that can sav you hundreds of dollars.*

It’s important to note that if you think you have been put into the wrong bracket, you have the opportunity to appeal the surcharge, especially if you have had a life-changing event that has had an impact on your income. This type of life-changing event can include a work stoppage, marriage, or divorce.

Looking To Save?

A Medicare Supplement Plan can help you pay the medical expenses that aren’t covered by Medicare Part B, helping you save hundreds, or maybe even thousands of dollars each year.

Medicare Supplement Plans can cover your Part A deductible and coinsurance costs, as well as your Medicare Part B copayment, coinsurance, and deductible. There are 10 different plans to choose from, and depending on which plan you choose, you could get anywhere from 75% coverage of your medical expenses up to 100%. Each plan offers a range of coverage at different price points; if you are worried about rising Medicare costs, a Medicare Supplement Plan is a great option, since you’ll only have to pay your Medicare Supplement Plan monthly premiums.

EZ can compare all 10 Medicare Supplement Plans and find the one that will meet your financial and medical needs. Our agents work with the top-rated insurance companies in the nation, which makes comparing plans easy, quick, and free – our services come at no cost to you because we just want to help you save money so you can focus on your health. To get free instant quotes on plans that cover your doctors, simply enter your zip code in the bar above, or to speak to a local licensed agent, call 888-753-7207.

Tag: medicare

What Is a Medicare Flex Card?

What Is a Medicare Flex Card?

How Is a Flex Card Used?

Avoid Medicare Flex Card Scams

If You Are Looking For Extra Coverage…

5 Things You Can Do Now to Prepare for Medicare’s Annual Enrollment Period

Changes You Can Make During the AEP

Planning Ahead

Compare & Find the Perfect Plan Early

Avoid These 4 Common Medicare Annual Enrollment Mistakes

1. Not Checking If the Annual Enrollment Period Is for You

2. Overlooking Changes In Your Life

3. Assuming Your Providers Will Be in Network Next Year

4. Focusing On Premiums Alone

If You Need Help…

What is The 8-Minute Medicare Rule?

What Is The 8-Minute Rule?

How Does the 8-Minute Rule Work?

Extra Coverage

5 Things to Consider Before Medicare Annual Enrollment

1. Check to see if your plan’s benefit or cost has changed.

2. See if your prescription drug coverage has changed.

3. Make sure your doctor is still in your network.

4. Consider your costs.

5. Travel Plans

How Inflation Is Affecting Projected Medicare IRMAA Brackets for 2023

What is IRMAA?

How Is the IRMAA Calculated?

Projected IRMAA Brackets for 2023

Looking To Save?

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