Medicare 101

Medicare 101

While most individuals embrace the aging process, Medicare is excellent coverage that many seniors look forward to obtaining. Medicare has been providing health insurance coverage since 1965 for individuals 65 and older as well as certain disabled Americans. Over 15% of the country is currently enrolled in Medicare today and that’s a definite bonus after having worked for most of our lives. Being on Medicare means having Hospital and outpatient coverage for many services. Although, many seniors are unaware of the coverage they have and what expenses they’re responsible for paying. Having a Medicare Supplement could help you plan your health

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Durable Medical Equipment & Medicare

Durable Medical Equipment & Medicare

Many baby boomers rely on Durable Medical Equipment (DME) supplies for their daily activities. Medicare covers medically necessary supplies such as a wheelchair, CPAP machine, or oxygen tank. So, if you’re wondering about Medicare coverage on your Durable Medical Equipment; ask yourself this; is this medically necessary and is my doctor going to write a prescription for this? If you can answer yes, then coverage will be likely. Will My Medicare Coverage Pay for Durable Medical Equipment? Durable medical equipment is covered under Medicare Part B. The yearly Part B deductible is applicable and then Medicare pays an 80% coinsurance. That

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Switching Medicare Supplement (Medigap) Plans

Switching Medicare Supplement (Medigap) Plans

If you need to drop, change or enroll in a Medicare Supplement (Medigap) plan, you can do it at any time of the year.  But before you make any changes, you need to consider whether you should make any changes or stay with whatever plan you currently have.  Although you might be very satisfied with your Medicare Supplement plan now, it might not be suitable any longer because of your present needs or because of changes to the cost of your plan.  As life events may have arisen, your current coverage could fall short of providing you with adequate coverage

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Guide for Federal Retirees and Medicare Part B

Medicare Part B covers physician and outpatient services. Part B can include ambulance services and durable medical equipment as well as laboratory tests and x-rays. While most seniors get Medicare Part A “premium free”, most seniors pay a monthly premium for Medicare Part B. Generally, Part B premiums are taken out of your monthly Social Security check or a retirement check. To Take Part B or Not to Take Part B, that is the Question If you don’t take Part B when you are first eligible there is a 10% penalty on the current year premium added for each year

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Reinstating the Medicare Advantage “Open Enrollment Period”

If you or a loved one receives Medicare coverage, you know how complicated and confusing enrollment periods can be. Enrollment periods are only confusing because the term “Open Enrollment Period” is used correctly and incorrectly to describe times when a plan change is possible Reinstating “Open Enrollment Period” The Medicare Advantage Open Enrollment Period was discontinued in 2010. In 2019, the OEP will make a return. From 2011-2018 Medicare beneficiaries were given only the Medicare Advantage Disenrollment Period (MADP), during this time beneficiaries could disenroll from their Medicare Advantage plan and switch only to Original Medicare. Now all that is

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Comparing Medicare Carriers for Supplement Plans

There are many things for a Medicare Beneficiary to consider before choosing the right Medicare Supplement (Medigap) carrier for themselves. For most, they tend to look at carriers that they are familiar with to start. While it is true that all companies that offer Medigap plans must offer the exact same 10 standardized plans, the differences from company to company can vary greatly. Cost Cost is the biggest factor that most Medicare Beneficiaries investigate first, and rightfully so. The reason goes back to the plans. They are regulated by law to cover the same benefits no matter the company. Therefore,

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Alternatives to 1st Dollar Coverage Plans

We’ve lived our lives planning for our future and the future is now. Unfortunately, gone are 1stdollar coverage plans. Instead of paying a monthly premium that allowed us to close our wallet after writing that check we can expect to do a little more searching to find just the right plan. It’s back to the licensed insurance agent to review your needs and benefits against costs and risk. If you aren’t familiar with 1stdollar coverage, we are referring to Medicare Supplement Plans F and C. Medicare Supplement Plans are sometimes referred to as Medigap Plans. Plan F covered everything not

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Does Medicare Cover Power Mobility Scooters?

Power scooters increase mobility to make everyday tasks possible again for many individuals. They are a great choice for this, but they are quite expensive. Medicare will provide coverage for mobility scooters if you are able to meet certain requirements. Scooters and wheelchairs are considered durable medical equipment, which is covered under Medicare Part B. If you follow the steps we’ve listed below, you can increase your chance of getting Medicare to pay for your scooter. DME Guidelines from Medicare Medicare Part B covers 80% of outpatient medical expenses whenever they are deemed medically necessary.  Whenever a piece of equipment is

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6 Ways Seniors can Save on Prescription Drugs

Prescription drug use is increasing across all groups of people. But seniors are the most like to use multiple medications at once. This phenomenon, called polypharmacy, sees some seniors saddled with ten or more prescriptions. As age increases, so does the number of pills consumed each day. Whether or not polypharmacy is the best option medically, the financial burden is undeniable. Even with a Medicare Part D plan, prescription drugs costs stifle many seniors. This is especially true in the coverage gap, where patients are responsible for a larger percentage of drug costs. If you’re overwhelmed by the cost of

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