Understanding the 2020 Policy Changes to Medicare

The beginning of a new decade is upon us, and significant changes are happening. Understanding the 2020 Medicare Advantage Open Enrollment Period could bring you great benefit. The enrollment period provides an extra opportunity for you to get the best coverage. Medicare is full of many parts, and it may be challenging to keep up with all the new rules. Different enrollment periods have varying guidelines. Regulations include specific dates. Beneficiaries can forget about the old Medicare Advantage Disenrollment Period. The new and improved Medicare Open Enrollment Period is the replacement. The last time to enroll, according to federal law,

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3 Rating Methodologies for Medigap Plans

3 Rating Methodologies for Medigap Plans

3 Rating Methodologies: Attained-Age, Issue-Age and Community There are three rating methodologies that insurance companies can use when they sell Medigap policies – attained-age, issue-age and community rating. A rating methodology just means the method by which a company sets and changes their rates over time. 3 Rating Methodologies for Medigap Plans The rating methodologies can be confusing and misleading, so it is important to have some understanding of them when you are comparing Medigap policies from different companies, particularly if you are turning 65 and starting with Medicare. Attained-Age Rated Medigap Attained-age rated Medigap policies are, by far, the most common among

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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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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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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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Why Compare Part D Plans Annually?

Why Compare Part D Plans Annually?

What is Medicare Prescription Drug Coverage (Part D)?            Prescription drug coverage is available to everyone who is enrolled in Part A and Part B of Medicare.  You have two options for getting your Part D coverage: Why Compare Part D Plans Annually? Buy a stand-alone prescription drug plan (PDP) You can enroll in a Medicare Advantage Plan that already includes prescription drug coverage. If you do not sign up for a PDP when you are first eligible, you will have to pay a penalty every year for the duration of Part D.  It is also important that you be a resident

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Deadline for Medicare Open Enrollment Nears

Deadline for Medicare Open Enrollment Nears

WITH DECEMBER 7TH DEADLINE FAST APPROACHING, easyMedicare.com OFFERS FOUR QUICK TIPS TO HELP FIND OUT IF YOUR CURRENT MEDICARE PLAN IS RIGHT FOR YOU Deadline for Medicare Open Enrollment Nears With the deadline of December 7, 2017 just a few weeks away, there is still time for those who are eligible for Medicare to make an important decision about their healthcare during the annual open enrollment period. Deadline for Medicare Open Enrollment Nears With more Medicare health plan options than ever, it is important for people to understand their options. Medicare consumers want to feel confident that the plan they choose will

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What Happens If You Delay Medicare Coverage? 

What Happens If You Delay Medicare Coverage? ‎

When most people start Medicare, it begins on the 1st day of the month of their 65th Birthday. Of course, this is not what is the best for everyone. Frequently,  people are choosing to continue working later into life. What Happens If You Delay Medicare Coverage?  In many cases with group insurance there is no need to start their Medicare Part B coverage. These Medicare Beneficiaries have a few options, and can delay their Part B enrollment with no penalty. If you do not have creditable coverage and you decide to delay your Part B enrollment, you will have to wait

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How to Avoid Medicare Late Penalties

While there are many benefits to having Traditional Medicare, the few disadvantages come in the form of late penalties. Traditional Medicare consists of two parts, Medicare Part A and Medicare Part B. Part A benefits are your hospital benefits and covers any treatment given during hospitalization. Part B consists of coverage for doctor's office visits, diagnostic testing, lab work, outpatient surgeries, and ER visits. Prescription drug coverage is not available on Medicare Part A or Medicare Part B. There is Medicare Part D, which is stand-alone insurance that provides prescription medication coverage. And while Medicare covers most everything, there’s still

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