Guest BloggerAnnuities and Qualifying for Public Benefits
Do you own an annuity? Annuities are a complicated subject and even more so when it comes to their effect on the Medicaid or VA Aid and Attendance application process. How can an annuity impact a person’s ability to qualify for Medicaid or VA benefits in the future? Before I answer the question, let’s start with some basics. Annuities are creditor protected insurance products that guarantee income. A qualified annuity is a financial product that accepts and grows funds. Premiums for qualified annuities are generally paid with pretax dollars, as are any investments purchased for use in a qualified retirement plan. “Qualified” is a descriptor given
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Carol MarakFind Senior Care on Limited Budget
Recently, a reader asked, "If you can't afford to live in a senior care facility, or have family to take care of you what other options does a person have when they can't take care of yourself?" For many seniors, they survive on Social Security from month to month. The retirement years is challenging and enjoying the golden years and living comfortably is only a dream. And once they retire, they struggle. They are in survival mode. Others, like the 10,000 Americans who turn 65 every day, are just now facing the reality. When seeking care on the limited income
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My Senior Health PlanMedicare OEP 2020: How Mrs. Jones Made Changes to Her Medicare Advantage Plan
The new year is upon us and so is Medicare Open Enrollment Period (OEP) 2020. Yes, just when Annual Enrollment Period 2020 has finished, it’s time for OEP 2020! We know the Medicare system can be difficult, so today we’re going to follow Mrs. Jones through the Medicare Open Enrollment Period. Mrs. Jones is a little confused since the Medicare rules can be complicated. But we’re here to help! What is Medicare Open Enrollment Period? Mrs. Jones wasn’t happy with the Medicare Advantage Plan she chose in the fall during AEP, and she’s been waiting for January 1st so she
Continue readingSosa Insurance Group Can Assist with Annual Enrollment Period for Medicare
ATTENTION: It’s that time of year again: The Annual Enrollment Period for Medicare is here! The Annual Enrollment Period (AEP) begins on October 15th and continues until December 7th. During this time, you can make changes to certain aspects of your Medicare health coverage: Change from one Medicare Advantage Plan to another Medicare Advantage Plan. Change from a Medicare Advantage Plan to Original Medicare. Change from Original Medicare to a Medicare Advantage Plan. Enroll in a Prescription Drug Plan or change your Prescription Drug Plan. If you’re new to Medicare, you might have a different election period; reach out to us to
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Jagger EschHow 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
Continue readingAre You Ready for Medicare Open Enrollment?
It's Medicare open enrollment period starting October 15 and through December 7, 2019. Your chance to change coverage (Medicare plans) if you want. Medicare Part C plans, known as Medicare Advantage plans are private health insurance plans, mainly HMOs and PPOs, for people enrolled in Medicare. If you enroll in a Medicare Advantage plan, you still have Medicare, but you get all of your Medicare-covered benefits through a private plan. Most Medicare Advantage plans also cover prescription drugs and may cover other services, like vision, dental, and hearing. If you have Part A and Part B and are covered under
Continue readingMedicare Open Enrollment 2019: What You Should Know
What: Medicare Annual Enrollment Period (AEP) Also known as the Annual Election Period or Medicare Open Enrollment When: October 15 through December 7, 2019 Medicare beneficiaries have one guaranteed chance to make changes to their Medicare enrollment each year — the Medicare Annual Enrollment Period from October 15th through December 7th. During this period, you can: Enroll in a Medicare Advantage Plan Enroll in a Part D Prescription Drug Plan Drop a Part C or D Plan Understanding the Medicare Parts Original Medicare — Parts A & B Original Medicare, the coverage offered by the federal government, includes coverage for
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Garrett BallDo All Doctors Accept Medigap
If you are turning 65 and comparing Medicare Supplement or Medigap plans, you will probably ask "do all doctors accept Medigap plans?". This is one of the most common questions for people turning 65 - it can seem complex, but the answer is actually very straight-forward. Do All Doctors Accept Medigap Put simply, when it comes to accepting Medigap plans, it all depends on if your doctor accepts Medicare itself. Medigap plans "follow" Medicare. So, if a doctor or hospital takes Medicare, they will accept your Medigap plan. It does not matter which company or plan you have since Medigap plans
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Jeff DaileyUnderstanding Medicare through Supplemental Insurance
Americans don’t celebrate it as a holiday, but July 30 is an important historical date in the United States. It was on this day in 1965 that President Lyndon Johnson signed Medicare into law, introducing a national health insurance program for citizens aged 65 and older. Understanding Medicare through Supplemental Insurance In its first year of availability, more than 19 million Americans enrolled in the program. Medicare has since expanded to include individuals who are permanently disabled and those who suffer from kidney failure. This year the number of enrollees is expected to reach 57 million, according to the Centers for
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