Medicare Supplemental Insurance

Archive for the ‘Medicare Supplement’ Category

Thank you for allowing us the privilage of providing for your Medicare gap needs.  As your trusted advisors, we want to make sure you are aware of any and all changes that may impact your situation.

This letter is to inform you of a recent Medicare law (H.R. 6331) that will be adjusting some of the available options.  I want to personally assure you that these changes will have no effect on your current Medicare Supplement coverage.

Effective June 1, 2010, the federal government is changing all existing standardized Medicare Supplement plans.  These changes will only effect those policies issued AFTER June 1, 2010.  These changes will streamline the plan offerings for Medicare beneficiaries by making them more consumer friendly, along with adding some new plan options.

Due to the changes, I would like to address a few items: 

• The Medigap plan you currently have IS GUARANTEED RENEWABLE for life as long as you continue to pay the premium.  So even if your health changes you cannot be terminated and you cannot be forced to change to one of the new plans.  In fact, some of the coverages and valuable benefits in your current plan will not be available under the new programs.
• If you do decide to switch to a new 2010 plan, you will lose some of the benefits that are covered under your current plan and you will never be allowed to go back. On the flip side one of the new plans may fit your situation better. 

As always, it is important to make well informed decisions about your insurance plan.  Before you make any changes to your existing coverage, please call us first to go over your policy’s coverages and benefits.  You may call us anytime at 816-254-6100 or toll – free 1-888-535-0999.

With Thanks,

Travis M. Gensler

P.S.  We have enclosed some frequently asked questions to help understand some of your options.  Please do not hesitate to call us with any questions.

P.P.S Please remember you will be able to keep your existing policy and will not be required to change benefits or buy a new plan

Frequently Asked Questions:

1.    Will be able to keep my current plan?

Absolutely, we encourage you to keep your existing plan.  Some of the current plans contain coverages that will not be available on the new plans after June 1, 2010

 2.    Will I be able to switch to one of the newer plans?

You can switch anytime after June 1, 2010, but you do not have to.  Built into the regulation, there are transition standards to allow companies to offer existing policyholders or certificate holders the opportunity to exchange their current policy for a new policy.

If you would like to compare benefits, please call us to set up a time to get together.  We will send out another letter when we get more information from our companies on what plans they will be offering and what the premium will be at that time. 

At this time we do not have any direction on the process for changing to the new policies.  We will keep you updated as we receive more information.

3.    If I purchase a new Modernized Plan after June 2010 can I go back to my original plan at a later date?

No.  Make sure you carefully evaluate your options with us before you make a decision to move.  All plans will be different and many plans (E, H, I & J) as they are known today will not be available because of the additioanl benefits you had are not available on the new plans.

More Questions?

Please do not hesitate to contact us at 816-254-6100, toll free at 1-888-535-0999. 

Let me guess, you have worked at your job for 30+ years and have never had to deal with finding health insurance because your employer always took care of it, now your coverage and help picking the plan have all dissapeared and you are out on your own trying to figure out this mess.

You Are Not Alone!

As an independent agent, I can’t tell you how many times I have heard this story.  If I had to guess I would say about 85% of the time.

There are probably a lot of things you want to do instead of learning how the health care system works, right?  You probably have an agent that you call on, who may or may not be an expert in Medicare options.  Even if he or she can provide a Medicare Supplement or Medicare Advantage plan for you, they may not be the perfect person to talk to.

How To Find The Perfect Agent To Work With?

A few suggestions to help you get started on your hunt:

1. Ask your friends or relatives who they work with, and quiz them on why they chose that person. Did they educate them on all of their options?  Did they help them understand the current economic situation and how that will impact the future of their benefits?  Do they keep in touch with them on a regular basis?
2. Check with your local Better Business Bureau. Go to http://www.bbb.org and type in your zip code to search for an agent or to check out a local agent.  I would choose one that is an accredited business, because that shows they hold themselves at a higher standard and want to prove that to you.  It does take a few years in business and establishing a reputation before the Better Business Bureau will even look at the accreditation process for them.
3. Interview that agent. Ask questions like

• Are you an independent agent?
• What types of Medicare plans do you offer?
• How many companies do you work with?
• How do you choose which companies to place your clients with?
• How many clients do you have?
• Do you have any references or testimonials?
• What kind of support will you provide me after we sign up for a program?
• What happens if my rates increase next year?
• Will my plan coverages change each year?
• Do I have the option to change plans?

When you select an agent with this process you are more likely to find one who will help serve you for the long term.  Be aware, that there is a host of new agents entering the marketplace each year who will not be around in the years to come, so make sure you find one that will stick by your side.

If you have any questions please feel free to call us at 1-888-535-0999

~Travis

With the state of our economy, and all the MASSIVE layoffs, there are many people who for the first time find themselves searching for their own health insurance for the first time.  There’s not a day that goes by, that I don’t hear “I’ve never had to deal with this stuff, and there is no good way to find information to make a good decision.” 

Being without a job makes it hard to pay for your health insurance, especially since group health coverage extended to you is typically a lot more expensive, because you have to pay the full group rate and the administration fee, you might be surprised to find that individual insurance can be more cost effective.

 Whether you are needing some health insurance until you qualify for your Medicare rights, or you already have Original Medicare, and you want a free resource to help answer your most burning questions in Missouri, Kansas or Iowa call 1-888-535-0999 and ask for Travis.

TRAVIS: THANK YOU FOR HELPING US CHOSE OUR HEALTH INSURANCE AND PRESCPTIONS COVERAGE. WE KNOW WE CAN COUNT ON YOU FOR ANY OTHER NEEDS WHEN WE NEED THEM. BEFORE I RETIRED I TOLD SEVERAL OF MY FRIENDS ABOUT YOU. THANKS! JERRY AND GARNETT RINEHART, BLUE SPRINGS, MO’

Time and time again, during conversations with those medicare clients I work with, I hear your concerns thinking that your open enrollment period is over.  Part of the problem with all the new options since 2006 is that with the effort to create more options for those receiving medicare benefits, the government has created more confusion.

So when can you make a change to your benefits?

• If you have a medicare supplement policy, you can change your plan at any time as long as you can answer and pass the health questions for underwriting.
• If you have a medicare supplement policy and can not pass the health questions for underwriting, then you can change companies on your policy anniversary period as long as you stay with the same plan, ex. Plan .
• If you have a stand alone prescription program (PDP or Part D) you have an open enrollment period from Nov 15th to Dec 31st each year to make as many changes to your current program as you want.  The last plan that you change to will become effective on Jan 1st of the new year.
• If you have a medicare supplement program with a stand alone prescription program (Part D), during Jan 1st through March 31st  you may change to a Medicare Advantage program (PPO, HMO, PFFS) with medical and drug coverage.  During the same period of time you can change from a Medicare Advantage program back to regular Medicare with a drug program.  You can NOT change from one stand alone drug program to another stand alone drug program.
• For Part D (prescription program) or Part C (Medicare Advantage) you can use a SEP or Special Election Period if you move out of your plan service area, or if your plan is no longer offered, or if you were mislead into enrolling into a part d or part c plan

Remember when you enroll into a Medicare Advantage program you have a 12 month trail period, after that 12 month period you can opt back into original Medicare and jump into a Medicare supplement plan no questions asked (Only certain plans available for guarantee issue, typically A, C, & F).  After that 12 month trial period, if you do not obtain a medicare supplement program, you will have to go through underwritting and depending on your health conditions at the time may or may not be accepted into the program.

If you are unhappy with your current coverages or your rates increase and you just would like to save some money, give Travis a call at 1-888-535-0999.

As you noticed, we have redesigned our site and moved some things around. This blog is now mainly to post updates and news articles that you might find interesting, and our main site will host the education materials so these items are easier for new clients and new websurfers to find.

Whether you become our client or not, we want to make sure you are educated on how medicare supplement policies work so you can pick the best one for you. Once you find a plan that works for you, our job is to find you the best deal.

If there is anything that we can help with or do for you or anyone you know, please do not hesitate to contact us.