Category: Health and Wellness Issues
October 20, 2021 - As we pointed out last week we are now in the Medicare Open Enrollment Period, which ends December 7. This is the time to re-evaluate your plan and change it if your circumstances have evolved, or you are unhappy with the plan you have. To help out with that process, we going to give a brief summary of some key points from an excellent article that came out last week in the Wall Street Journal, "8 Things to Know When Choosing a Medicare Plan".
Neal Templin wrote this helpful article and we recommend reading it for more detail (we hope the link above will allow you to access it without being a subscriber). Templin says that when it comes to Medicare you have three choices: Regular Medicare (Parts A, B, and D), Medicare plus a private supplemental plan (some people call it Medigap or traditional Medicare), and Medicare Advantage (Part C). The decision for which one to pick is complicated and depends on your own personal situation.
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Published on October 19, 2021
Comments 53
Category: Health and Wellness Issues
October 13, 2021 – The Open Enrollment Period for Medicare starts this week on October 15 and ends December. 7. It is an important event for eligible people not currently enrolled in the plan, or who want to change plans or some component of their current plan. During…
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Published on October 12, 2021
Comments 12
Category: Medicare
March 3, 2021 — The problem with retirement is that there really isn’t a school for it. One day you are working, and the next day you could have twenty or even thirty years ahead of you with no plan as to how and where you are going to fill…
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Published on March 3, 2021
Comments 0
Category: Health and Wellness Issues
October 13, 2020 — Medicare’s Open Enrollment Period starts on Oct. 15. That is when you can sign up for Medicare if you didn’t during your original eligibility period, or have not qualified for a special enrollment period (if you are already on Social Security you should have been automatically…
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Published on October 12, 2020
Comments 0
Category: Health and Wellness Issues
October 8, 2019 -- The results are in from the 555 people (so far!) who took the Medicare IQ test. We are thankful to all those intrepid souls: we are impressed with your solid grasp of most Medicare essentials. The test represents good timing, because this year's Medicare Open Enrollment period begins next week (Oct 15) and runs through Dec. 7. During this time you can freely change plans without losing coverage. Didn't take the quiz yet - here is the link to the Medicare IQ Quiz.
For learning purposes here is a question by question review of the quiz, along the scores by question. We arbitrarily set a passing grade of 60%, but the average score was just over 71%. Almost everyone understood the basic questions, such as the difference between Part A and Part B of Medicare. But three questions in particular tripped up about half of the people taking the quiz. Those questions involved the fine points of when you can sign up for Medicare (Question 10), which Medigap or Medicare Advantage Plan has the smallest deductible and copays (Q 11), and what events are covered under a Special Enrollment Period (Q 12).
Question 1: At what age are you eligible to Medicare on your own earnings record?
Some 82% answered correctly that the age to do this is 65. Wrong answers were 62 and 66.
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Published on October 8, 2019
Comments 3
Category: Health and Wellness Issues
Medicare can be awfully confusing. Take this quick quiz and you’ll find out just how much you know about this powerful benefit. You’ll get a score and the right answers, plus in the next few days we’ll have an article with a detailed explanation of all of the answers.
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Published on September 30, 2019
Comments 8
Category: Health and Wellness Issues
September 8, 2019 -- As promised, our series on Medicare continues with an analysis of the competing forms of Medicare: Original Medicare + Medigap insurance vs. Medicare Advantage (Part C). This seems like a particularly good time for it, since the Medicare Open Enrollment Period begins on Oct. 15. We are grateful to Tom Cretella, CLU, an insurance broker with almost 50 years of experience and know-how in this field, for answering these frequently-asked questions. You can find the other articles in this series listed at the end. As always, we welcome your comments and questions on this complex and important topic.
Q. What is the significance of the Open Enrollment Period (AEP) which begins Oct. 15 and runs through Dec. 7?
A. The Annual Open Enrollment Period happens each year from Oct 15- Dec 7. During this time people can change coverages without fear of pre-existing conditions not being covered. If they have a Medigap plan and original Medicare they can change plans or elect a Medicare Advantage plan. This enables a Medicare beneficiary to buy a plan that suits their utilization habits and pocketbook. All changes become effective on January 1. On Sept 30 each plan is required to send a Notice of Change to Medicare Beneficiaries outlining any changes for the following year. More Blog articles like this...
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Published on September 7, 2019
Comments 71
Category: Health and Wellness Issues
September 3, 2019 -- Lately we have had a mini-avalanche of comments and questions about Medicare. They are mostly to do with which is the best plan to choose - Regular Medicare, or one of the many choices under Medicare Advantage? With plans ranging from A - N, it can all be downright confusing. So, to help you prepare for the upcoming Medicare Open Enrollment period (starts October 15 and runs through December 7), we are fortunate to have a Q and A article with a real Medicare insurance expert (now available). Tom Cretella of Cretella and Belowsky will try to answer many of the questions we have seen come up on this issue. Stay tuned, it should be very helpful! (Also, see list of related articles in our Medicare series at end)
New Medicare Comparison Plan Tool Announced by Medicare.gov.
More Blog articles like this...
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Published on September 2, 2019
Comments 43
Category: Health and Wellness Issues
October 13, 2018 -- Medicare Open Enrollment runs from Oct. 15 - Dec. 7. If you are currently on Medicare, or didn't sign up when you were first eligible for it, now is the time to compare plans and make sure you have the coverage that's right for you in 2019.
Sure you are busy and have many things to think about. But spending a little time and effort every year to make sure you are in the right plan Medicare plan is important. For example, maybe you currently have Medicare Part B along with a supplemental plan. Flash forward to the present. Your health needs might have changed since then, maybe enough so that you aren’t in the right plan anymore. Maybe Medicare Advantage (Part C) makes more sense now because it probably covers additional benefits such as vision, dental,
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Published on October 12, 2018
Comments 7
Category: Health and Wellness Issues
November , 2017 — This installment on Medigap (supplemental) insurance is the latest in our 5 Part Medicare series, which has important implications for everyone as they reach age 65. Don't miss Part 1: So You're Turning 65: Here Is Your Guide to Medicare 101, and Part 2: Which Is Better, Original Medicare or Medicare Advantage (Links to Parts 3 and 4 at end of article).
In this article we will first explain what Medigap insurance is, and then how to find, compare, and buy a plan. Then we will reprint many of the Medigap comments that Members have posted to our other Medicare articles. We think you will find their collective wisdom useful.
Medicare Basics As a refresher, original Medicare includes Part A (hospital coverage) and Part B (doctor services). Almost everyone eligible for Medicare
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Published on November 13, 2017
Comments 9
