Archive for the ‘Companies’ Category

Just got the first details this morning on one of my companies that will be offering the new plans M & N in the state of Missouri.  The new plans look to be pretty good new options, but like all insurance products there is not a one fits all so make sure you are comfortable with how it works and know what your responsibilities are before you go making a switch.

These new plans offer a different benefit structure than what was available before so make sure you understand the layout.  With that being said when compared to a Plan F, Plan M looks to be about 30% less on a monthly basis, and Plan N looks to be about 33% less than a Plan F.

See the chart below for easy comparison.

As a reminder, Please remember if you have a Medicare supplemental policy in force when these new plans become available your current benefits will not change.  Your plan is guaranteed renewalble as long as you pay your monthly premium.  If you have a question about the new plans or would like to explore your options, give us a call: 816-254-6100 or toll free at 1-888-535-0999.

Effective Immediately

Fox’s contract with Medicare has been terminated by The Centers for Medicare & Medicaid Services (CMS). After a review of the plan it was determined it did not meet Medicare’s requirements.  All enrollees in a Fox plan will obtain their drugs through a plan administered by Humana.

Clients will have a SEP until May 1 during which they can make 1 election. If they do not make an election by May 1 they will remain in the Humana plan.

Call us with questions or assistance picking a new plan. 

Toll free 1-888-535-0999 or local 816-254-6100

Click here for the full CMS press release.

The 2010 Medicare supplement Modernization Act will certainly update current Medicare Medigap insurance plans countrywide. Nevertheless, it can not affect any existing Medicare Supplemental coverage which you have.

This exclusively has an effect on individuals that buy a brand new plan with an effective date of coverage on or after June 1, 2010. In case you already possess a Medicare Supplement insurance policy, your own health benefits are not going to change and also you are guaranteed to keep your policy given that you continue paying your payment. You will end up grandfathered in to the old plan benefits, nevertheless could possibly have a chance to go on to a new program if it performs better for you.

In case you are turning 65 on or after June 1, 2010 or considering a Medicare Medigap switch on or perhaps after that date, you’ll want to pay special attention to the brand new insurance plans and the way they’ll have an impact on you. The key modifications are going to be:

The Preventive Care and At Home Recovery features will be removed completely from all policies which bundled them prior to June 1st, 2010. Medicare has made the decision that these kind of benefits, that weren’t used very often will not be worthy of inclusion in the standard Medicare Medigap insurance plans moving forward, consequently they’ve been peeled off all policies which had them.

Together with the removal of those two benefits many of the plans are going to mirror several other policies exactly, therefore in order to reduce multiple policies with the very same coverage, plans E, H, I along with J will not be available to buy.

Yet again, make sure you try to remember for those who have a plan which won’t be available immediately after June 1st, 2010 you’re grandfathered in and get to maintain your current plan, your features cannot change.

For the brand new policies being launched immediately after June 1st, 2010, there will be a new Hospice feature added as a standard benefit within all the plans. This will now be regarded as a core feature and will be an integral part of all of the brand new plans.

The biggest revision is actually the addition of two new plans, Plan M and also Plan N. Those two plans promise to be a very practical choice for all those currently on a Medicare Advantage plan which are either losing their insurance or facing the significant rates increases / benefit decreases which are predicted in these the years to come.

Each plans will certainly use a different cost-sharing to allow for lower prices. Plan M will make the covered responsible for Half of the Part A deductible, while Plan N will have a $20 doctor’s office co-pay and a $50 emergency room co-pay. Both plans estimate to have 15-30% lower monthly premiums as compared to existing Medicare Supplement Plan F.

At the time of the witting of this article, there has not been virtually any details released with who will likely be selling these brand new plans or the exact costs. I highly recommend you subscribe to our site at www.medicaresupplementdirect.com with regard to up-to-date info as it is published.

Just saw that headline today on an add in one of my industry magazines and thought to myself that is a good question you as a potential client should ask yourself.  If you wouldn’t trust your GPS with have the info, why would you trust your advisor with only a few options?

When interviewing an agent to handle your benefits, ask how many different companies and differnt plans they can offer.  That simple question will tell you if they are a sales person or an advisor. 

A sales person sells you the only thing they have, an Advisor educates you on which company and plan matches up best with your needs.

Just something to think about…

Have a great day!  Travis

We are in the process of adding Fox Insurance Company to our list of providers.  Fox currently only offers Medicare Part D prescription programs in the state of Missouri and Kansas. 

We are always looking for ways to improve our product selection and service for our clients so they may be able to obtain the best coverage possible.   Just doing our job as your independent advisor!

See a list of the companies that we can offer here on our company page

Call us with any questions.

Travis