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.
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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
Category: Health and Wellness Issues
July 28, 2015 -- There is at least one good thing about getting to the ripe old age of 65 - you are eligible for Medicare! It pretty much removes the worry of finding health and drug insurance coverage, and you get this benefit at a very low cost. But if you make some of these common mistakes, you might not be eligible for it when you want it, or it might cost you more money than it should.
We think this article will be useful for people who have not yet signed up for Medicare as well as those who are already in the program. It is part of our series on Medicare and health care insurance. See the bottom of this page for links to the rest of the series.
But before we launch into the worst Medicare mistakes, here is a tiny background about Medicare:
What is Medicare, and who is eligible?
Medicare is health insurance for people 65 years or older, under age 65 with certain disabilities, and any age with end-stage renal disease (ESRD) or Lou Gehrig's disease. Medicare has four parts -- Part A, which is hospital insurance, Part B, which is medical insurance, Part C, which is Medicare Advantage Plans, and Part D, which
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Published on July 27, 2015
Comments 93
Category: Health and Wellness Issues
November 4, 2012 -- Note: This is Part 2 of our Medical Insurance for Retirement Series. See Further Reading at end for links to Part 1 through 5.
The result of last month's member survey about Medicare are in. We are pleased that you have ideas on a plan to fix Medicare, something that differentiates you from our elected leaders in Washington. When asked to rank your ideal fix from a list of 9 choices, limiting benefits to the most affluent was the number 1 choice, closely followed by 4 others (see detailed results below). Vouchers and lifetime benefit caps were the least popular choices in the survey. Elsewhere in the survey results, most of our responders have opted in to Medicare and its component parts. The sole exception is Part C (Medicare Advantage), where more folks are not in the program than are.
We are so grateful to the more than 550 people who took to the time to answer our 9 questions about Medicare. While we can't say that any of the findings are particularly surprising, the results do shed
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Published on November 4, 2012
Comments 69
Category: Health and Wellness Issues
Updated May 17, 2016 -- Note: Although the basics about Medicare are unchanged, the amount you pay in premiums and deductibles changes over time. This article is both Module 9 of our Retirement 101 Online Preparation Course and the first in a series on Medicare.
-- Believe it or not, there is some good news about your turning 65 - you are now old enough to be eligible for Medicare! Cheer up, the worst of your medical insurance worries are over, particularly if you retired early and are not covered by an employer plan. Most people in the Medicare system are grateful for the coverage and peace of mind it provides.
This 101 article, part 1 in a series, is meant to address the concerns we know many of you have about how to get started with Medicare. Using information from the very helpful Medicare.gov site and in particular its FAQ feature, we'll explain exactly what the program is and outline the many options it can provide, so you can both rest
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Published on October 8, 2012
Comments 118
