Medicare Supplemental Insurance

Posts Tagged ‘medicare advantage’

I have to start by saying the reason for this post has made me said, not because we were able to review an move a new client to a better program, but because she was paying over $6000 a year for just her prescriptions.

For every person there is a program that fits their needs, however when you are not placed into the proper program, you spend much more than you need to.  In an earlier post I noted that depending on the Part D prescription program that you were enrolled in, the difference in cost from the lowest cost to the highest cost averaged $3000 for the year.

Now to get to the point of my post.  A new client walked into my office this past week with her current plan details and a list of her prescriptions.  She was currently on a Medicare Advantage HMO plan which included prescription coverage.  Over the course of 2009 she spend $5980 some dollars on just her prescriptions, not to mention her co-pays and deductibles she was responsible for through her medical side of the plan.

When it was all said and done, to make a long story short, we moved her to an individual Part D prescription plan and saved her $900 dollars this coming year just on her prescription program.  (The $900 savings for the year already factors in the monthly cost of the Part D prescription program and all out of pocket cost including copays)

That $900 savings for the year broke down to $75 savings per month.

Her Medicare Supplement Plan J was going to run her $147 per month.  So $147 – the $75 savings means the net cost of her Medicare Supplement is now $72 per month

Her prior Medicare Advantage plan was charging her $20 per month just to be on the plan, plus the co pays and deductibles.

So now you take the $72 additional dollars she is spending and subtract the $20 that she was going to pay for her Medicare Advantage plan and she  is only spending $52 more per month.

THATS NOT ALL!  I must also point out that her Medicare Supplement Plan J does not have any of the hidden expenses such as co-pays or deductibles like her Medicare Advantage had.  So when we factor in the co-pays that she spent with her Medicare Advantage, she saved WAY more by moving to the individual Medicare Supplement and Part D prescription program.

The point I am trying to make here along with everyone of my post is: Just because an agent says they can get you a Medicare plan, does not mean they have access to the proper products for your needs.  Make sure you get with someone who will educate you on all your options so you can make a good decision.

Best Luck,

Travis

November 15th through December 31st 2009 is the Annual Open Enrollment for Medicare Advantage and Medicare Part D plans.

What does this mean?  You can elect to make a change to your Medicare Advantage or Medicare Part D plan if you need to.  If you make a change, the last change you make will be the one that goes into effect on January 1st 2010.

If you have a Medicare Supplement, this does not apply to that plan.  With a Medicare Supplement, if you are healthy and can answer the qualification questions, you can make a change at any time.  If you have had some health challenges, there might be some opportunity on changing your Medicare supplement options, just give us a call so we can help determine the best options for you.  Call 816-254-6100 or toll free 1-888-535-0999

By now, if you are on a PFFS Medicare Advantage plan (private fee for service) depending on what company you have your plan with, you might have gotten a letter saying that your plan will not be offered for the 2010 year.  With some of the changes Medicare made this year, there now must be a network associated with the plans.  Those companies offering PFFS plans that don’t have a network in your area, have sent out a letter to those members affected letting them know they need to find a different plan for 2010.

You can obviously select another advantage plan in your area, but you also now have a guarantee issue period to select a Medicare supplement plan if you would like to move back to original Medicare.

If you live in Missouri, Kansas or Iowa and need assistance with finding a new plan, please give us a call 816-254-6100 or toll free 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’