The Open Enrollment Period and What It Has to Do with Medicare Supplement Plans

If you´re looking to get additional health care insurance for the very first time, you might not be an expert. Which is fine, as most people aren´t. There are a lot of rules and advices when it comes to Medicare supplement plans. One of these advice has to do with the so-called open enrollment period. But, what is this period? And what does it have to do with the Medicare supplement plans?

Open Enrollment Period info for 2019 supplement is at www.medisupps.com/medicare-supplement-plans-2019/ and is free.

The open enrollment period is a time period of 6 months, which begins from the day when you turn 65. Starting your 65th birthday, you can enroll to any supplement plan you want. During these 6 months, the health insurance companies are not allowed to deny you enrollment to the supplement plan you want to enroll to. Another important factor is that during this period of time the health insurance company can´t set the price based on your health condition. They are not allowed to look at your medical history and see what conditions you´ve previously had and how often you´ve visited health care providers in the past. This is very important, especially for people who do suffer from a condition and require health care professionals more frequently. If the health insurance companies would look at the medical history, the premium rates would be a lot higher.

If you´ve missed the open enrollment period or require health insurance at a period of time that isn´t during these 6 months, you might be eligible for the special enrollment period.

Special Enrollment Period: What it is

There are certain situations that make you eligible for enrollment to any Medicare supplement plan you want, without having to undergo medical underwriting. This means, that you would get the very same rights, as you would during your open enrollment period. Some of these situations, are:

  • When the health care coverage you are currently enrolled to is no longer provided (for example, if the company doesn´t offer it anymore, if the company can no longer cover the costs due to bankruptcy, or if you move somewhere where your current health insurance company is not present)
  • If you have big life changes, such as getting married or having a baby

Some Medicare supplement plans, which are job-based, might have different enrollment periods. You need to ask beforehand to find out when the period to enroll is.

Medicaid and the Children´s Health Insurance program are plans you can enroll to at any time throughout the year.

After knowing what this valuable time period is, you can plan ahead and start thinking about whether it is a good decision to enroll or not. The general rule says, that if you´re planning to enroll, you should best do it during this period of time. This will end up saving you a lot of money, as premium rates at another time can be twice as high, especially if you´re suffering from a chronic condition.

The Medicare Supplement Plans Comparison Charts In Florida Must Be Gone Through Before Selection Of A Plan!

 

The people all over the world are concerned over one thing necessarily. That is none other than that of the health. Health is that important because, one cannot do without it. But no matter how conscious you are usually are, there are various important things that you must be aware of.

The health can degrade at any given time. Also, there can be various accidents that you may have to face. So, what is the best solution for the same? Taking the monetary help is what you need to do in the correct time.

A good medical plan is what you need for yourself. But does this prove to be great always? No, not necessarily. Let us tell you that there are great Medicare Supplement plans that you can absolutely opt for!

These are good because they not only offer you with alternative medical plan services but also cover things that the general medical insurances don’t. While selecting a good Medicare supplement plan in Florida, it is obvious that you will look for the best that you can get your hands on.

And therefore you will have to look into various points. One of the most important things to look into is the comparison chart of the same in Florida.

But why? Get the best 2020 medicare supplement plans at www.medisupps.com/medicare-supplement-plans-2020/

The comparison chart of the Medicare Supplement plans in Florida is so necessary because of the following reasons:

  • Help you differentiate the benefits:

Understanding the differences in the benefits is exactly what you need. You will have to know that how a particular plan is more beneficial than the other. Understanding this is important because of the fact that this is exactly what will serve you in the future. The benefits, the more compared, will become more and more obvious to you. And this is exactly why you will have to get through with the comparison.

  • Talks about the services in details:

If you are opting for a plan without understanding what services, the company offers to you, then you maybe in grave danger. And also, there are chances, you will end up doing mistakes. This is one of the most important reasons why getting through with the comparison chart is going to serve you great results.

These are very few reasons why ensuring that you are getting through with the comparison chart of the Medicare Supplement plans in Florida is necessary. There are so many plans otherwise, that you will get confused if not compared.

HOW AETNA MEDICARE SUPPLEMENT PLANS WORK WITH MEDICARE

HOW 2019 AETNA MEDICARE SUPPLEMENT PLANS WORK WITH MEDICARE

Medicare supplement plans are not designed to work on their own. This is the reason as to why they are called Medicare supplement since they are used to supplement your original Medicare cover. In order to become eligible for the Medicare supplement plans, you should be enrolled in an original Medicare cover and you need to stay enrolled in the original Medicare even after getting the supplement plan.

Original Medicare and Medicare supplement plans work hand in hand. If you incur medical or hospital costs, the costs will first be catered for by the original Medicare cover and the Supplement plans will be used to cater for any additional costs that original Medicare could not meet. This is achieved through the deductibles, copayments and coinsurance.

Medicare supplement plans are also used to pay for doctors and hospitals that charge higher amounts than those approved in the Medicare cover. This is achieved through the excess charges benefits. This is a provision that gives more flexibility to policy holders who want to visit different hospitals and doctors to seek additional help.

Medicare supplement plans also work with Medicare Part D. Medicare supplement plans do not offer coverage for medications and drug prescriptions. Therefore, if you want to have a plan that will cater for your prescriptions, then you should combine your Medicare supplement plan with the Medicare Part D. This is to expand your health insurance coverage.

However, you should note that not all the Medicare covers work with the Medicare Supplement plan. If you have the Medicare Advantage plan, you cannot use the supplements plan to pay for any additional costs. You therefore are required to drop one of the covers and choose a more suitable combination. The only Medicare cover that works together with the Medicare supplements plan is the original Medicare and you have to make sure that you are enrolled in it to be eligible for either of the supplement plans.

An original Medicare cover on its own is not very effective. This is because there are some gaps in costs that will be left. It is therefore important to ensure that you supplement your original Medicare with one of the supplement plans to minimize the extra expenses that you have to meet on your own. Due to the unpredictable nature of medical emergencies, being comprehensive in terms of coverage is advisable.

Facts About Medicare Supplement Plans

Although Medicare Supplement plans have become a very popular issue of discussion, there are certain misconceptions which everyone needs to be in the know about. There are 4 facts about this insurance that need to be considered before signing up for a specific plan.

Fact # 1: The cost of Medicare Supplement Insurance vary from carrier to carrier – Although these plans are similar, no matter who you buy them from, the cost of your premium varies from one insurer to another. So be sure to evaluate several companies before you commit to buying. No insurance carrier is required to offer all 12 plans, so an insurance company can try to inform you about the plans they are selling, if another plan is what you actually need.

Fact # 2: No matter who you buy Medicare Supplementary Insurance, it’s the same coverage – this insurance covers the gaps in Medicare. This comprehensive 12-plan program, referred to as Part A through Part L, offers various levels of benefits and many private insurance carriers may offer one or more of them. Regardless of who you are referring to these plans, the coverage is the same. So if a company tells you that its plans have certain advantages over other companies, do not believe them.

Fact 3: Only one additional Medicare insurance is required – by law, you only need one additional insurance. You can easily close the gaps in your Medicare coverage by taking out Medigap insurance. So if Plan D meets your specific needs, you do not need to buy any additional plans. As it stands, according to the federal government, any attempt to sell additional plans to you is illegal.

Fact # 4: You’re the only individual who can enjoy coverage from Medicare insurance – you are covered by Medicare policy and no one else, not like conventional insurance plans which often consist of coverage for your wife or husband. Couples who are married need to buy individual policies if they are interested in Medicare coverage. So, should any private insurer try to tell you that you can sign up for a Medicare policy that will cover both of you, they are not up capable, so continue to evaluate other providers.

Who benefits from the Best 2020 Medicare Supplement plans?

The Government of United States has worked with private insurance carriers to develop Medigap supplementary insurance specifically for the disabled and the elderly, to provide them with comprehensive health care administered by the government. The key benefit is that Medigap helps patients pay for the additional costs that Medicare does not cover, such as: Co-insurance, deductibles and premiums.

Depending on the needs of the policyholder, some services may also be covered. In addition, cover is often granted (where applicable) as the deductible periods persist. Most importantly, and depending on the Medigap supplementary insurance that the consumer chooses, there may be additional benefits that are not covered by traditional Medicare insurance, although Medicare will continue to pay for approved healthcare costs.

Consult an independent insurance agent specializing in Medigap insurance to guide you through the process.

Remember, up to 80% of all Medicare hospital admissions, equipment and treatments are covered by the plan. The precise cost depends on whether you have only Part A or B. Your choice of the right Medicare Supplement policy will influence whether you are 100% covered.

Facts That You May Not Know About Medicare

More than 50 years ago, the federal government launched programs to help Americans afford health services called Medicare and Medicaid. Since both programs contain many variables, they can be a bit complex. To give you an idea of ​​how the coverage works, here are six facts you may not know about Medicare:

  1. Medicaid and Medicare offers many of similar services, but for various categories of people. Medicare offers services to persons over 65 years and with other conditions, while Medicaid is a program for low-income Americans aimed at financial need. The government continues to develop and expand programs to adapt to ever-changing health conditions.
  2. Medicare coverage consists of four parts. Each one covers various types of medical expenses. If you examine Medicare, you may find the term “original Medicare” written somewhere. This term is referring to what is now known as Part A and Part B plan.

Medicare Supplement Plans 2020

  • Part A is that part of medical insurance that includes inpatient hospital stays, care facilities, hospice facilities and sometimes home health care services. Depending on your situation, you may be automatically included in Parts A and B, or you may need to register.
  • Part B includes doctor visits, permanent medical equipment, home health services, qualified prevention services, and other related costs.
  • Part C (Medicare Advantage plans) provides Part A, Part B and usually prescription medicines from private insurers. You must be registered for Part A and Part B before you can obtain Part C coverage.
  • Part D covers the outpatient prescription medicines for private insurers. You must be registered for Part A or Part B before you can enjoy Part D coverage.
  1. Everyone can sign up for 2020 Medicare supplement plans. There are three different times when you can sign up for Medicare Parts A and B:
  • Initial Registration Deadline: Once you are 65, you can sign up on both sides of your birthday month within three months.
  • General registration deadline: If you do not sign up during the first registration phase, you have the option to enroll every other year between January 1st and March 31st.
  • Special registration deadline: You can start Medicare at any age if you have a legitimate condition. Qualifying conditions may include disability, certain cancers or end-stage diseases. At the end of the first enrollment period, you may be able to enroll in Medicare during a specific enrollment period if you choose a qualifying event, such as: For example, if you move away from your existing coverage or lose coverage from an employer.
  1. Medicare is not free for many of us. While Part A does not receive a monthly bonus, if you have paid Medicare tax for at least 10 years, you have to pay for deductibles and coinsurance, except you are eligible for assistance. For example, the deductible for 2016 is $ 1,288 for each benefit period, with different co-insurance depending on length of stay. The Part B premium will cost $ 104.90 per month in 2016. Premiums may be higher for beneficiaries with incomes above certain thresholds.
  2. Original Medicare works without caps and networks. As far as Original Medicare is concerned, there are no networks to be concerned about. You can go to any doctor or hospital that accepts Medicare, even outside your home country.

Does Your Health Care Plan Take Care Of You?

Does Your 2019 Health Care Plan Take Care Of You?

Are you getting the best from your health care? Yes, Obamacare or health care reform or is now law and a tax. This means that everyone has opportunities to protect their family or try to protect their families. Health reform has, in my opinion, helped many people who could not get cover, but it will come with a high price tag.

Some companies that had great insurance programs also had to rethink strategies when it comes to covering you. Why? Well, if insurance companies are financially more at risk, they had to spread their risks. This leads to rising premiums for healthy people. Well, you may think so, but it must be affordable. This is true if you only have the required coverage, and the fact is that the deductibles are increased.

Feeling as if you were left in the cold?

I talked to many people, and they thought they were covered, but after talking to them, they were of the opinion that they were not. When they looked at the co-payments and deductibles, many felt that just having the general illness that a family would have or the broken bones, they were out in the cold and financially affected.

I was also told that they feel like they are insured. They say that too many insurance policies are required. I understand that. A recent Harvard study shows that 80% of people live from paycheck to paycheck. So, if the insurance does not cover them financially, they ask themselves what they can do. Taxes and insurance are devouring wages.

 

How do I protect myself?

Let’s talk about insurance for just a second. Property and causality (house and car typical) pays mortgages and car companies to protect the assets. Well, sure, your car insurance can pay medical expenses from someone you have an accident with, but often you are not on the list of coverage to help you. Even if your car insurance has medical plan for you, they still pay hospitals and doctors.

Then you have a life insurance. Who will pay for it? Well, definitely not you, unless you have a policy that you pay for when you reach a certain age. But it will pay for your final expenses and any extra will go to your beneficiary.

Then you have Major Medical. Is that to help you? No! They are treated and then the doctors and medical institutions are paid. As mentioned above, you have additional costs that your insurance does not cover.

The last one is disability insurance and if you have an unfortunate situation, this is money that will be paid to you. However, the government will not allow full income protection. Could you survive a percentage of your salary, especially if we saw the statistics from 80% live paycheck to paycheck.

We also have statistics that 60% of the bankruptcies are due to medical problems and 77% of these people had a large health insurance.

I know that sounds like there’s no hope, but there it is. Just as with Medicare, you can find ways to supplement your insurance. Most supplementary insurance will send you money for the livelihood of your family if you are injured or have illness.

 

Cost of Medigap Insurance

As far as health insurance is concerned, one can never go too far in choosing the perfect supplement insurance plan before asking about the premium for Medigap insurance. It’s just the way to find the best insurance policy; you need to balance costs with coverage to find the plan that suits you best. And given the many health care issues, the right supplementary insurance is becoming increasingly critical.

So, let’s come to the most urgent question about the cost of Medigap insurance; How do you know if the policy you are considering is also the best policy for you?

  • The first thing to consider is the coverage you need. How much deductible meets your needs? Do you often travel abroad and need insurance while on the move? Need extra coverage for prescribed medications? How often do you go to the doctor for examination? All of these questions can help determine the scope you need from your preferred policy. Of course, frequent visits to the doctor means that a higher deductible is favorable to your situation so you want to choose a plan that satisfies this need.
  • Now that you have an idea of ​​what you need, you should study the different Medigap plans to see which ones better meet your needs. All in all, there are currently around 11 Medigap plans on offer, each with subtle but significant differences. If you need help, you can always call your state health agency to speak with a representative who can break down the details of each plan for you. If in doubt, ask specific questions so they can be answered as short as possible.
  • Now you can consider Medigap insurance. While all insurance companies offer the same Medigap plans, you may be surprised to know that costs vary from company to company. This is because each company uses different pricing methods and is likely to be influenced by government conditions that eventually determine the cost of the premium. It is advisable that you consider and examine at least 5 different offers for a specific plan in order to get a better understanding of the different costs of Medigap insurance from company to company before coming to a final decision on what is best for you.
  • With a list of offers on hand, everything is based on preference. Remember, the cost of Medicare supplementary insurance varies from company to company, but within that, you can also see learn about the different rates from one year to another. Company A may be rated lower in Year 0, but the increase year-over-year may eventually lead to higher spending levels. You want to get to know these nuances as a guiding principle when deciding.

The cost of Medigap insurance is crucial to choosing the right plan, but it must be closely aligned with the plan coverage. Take the time to follow the process as described so that you have a more systematic approach to choosing the right Medigap plan for you.

Get a medicare 2019 advantage plan at www.medicareadvantageplans2019.org

Counting Down To Retirement

As you approach retirement, you need to worry about the upcoming changes. Why not you calm down by taking steps to take your new financial reality into your hands? In addition to working with a financial advisor to manage your financial affairs, you should actively engage with the tasks you can handle to ensure a smooth transition to retirement.

Here are three recommended activities that you should complete during the year leading up to your last day of work:

  • Keep your expenses under control. Your retirement habits will go a long way in determining if you have enough to feel comfortable in the coming years, and your lifestyle after leaving the workforce should be in line with your retirement income. Get your calculator and list your planned expenses carefully. Identify recurring and predictable costs for utilities, housing, groceries and other necessities. Include leisure money and plan the unexpected.

Consider simulating you retirement years by following your planned retirement budget for several months and make the necessary adjustments as needed. It is usually most realistic to assume that your material and discretionary retirement expenses do not change drastically.

  • Have a date with Social Security. Plan accordingly, if you want your social benefits to be used immediately. The Social Security Administration suggests that you apply for benefits three months before you start getting them. This includes your Medicare benefits that affect your healthcare costs. Research and meet with your financial adviser to understand how your retirement age affects the benefits you receive so that you can make an informed choice. Also, consider how your social security check can be influenced by other income, taxes, and a working or non-working spouse. Keep in mind that in most cases it makes sense to wait until you reach the age of 70 to gain benefits.
  • Balance your investments. Evaluate your allocation of assets and reorganize your portfolio if you want to reduce risk and save capital. Depending on your goals and your comfort in the event of potential volatility, you should divest high-risk stocks and shift assets into safer, slow-growing investment vehicles. Liquidity can be more important in retirement, so consider moving your money into more liquid savings. Work closely with your financial professionals to determine your risk tolerance and discuss what is appropriate for your personal financial goals and situation.
  • Get a 2019 advantage plan at www.medicareadvantage2019.org/

Once you pass the age limit, you can do three things in the first three months to get off to a good start.

  • Start on the right path to stay on course. Start your retirement with the smart habit of carefully monitoring your expenses and income. With electronic banking, investing and billing, it’s easier than ever to keep an eye on your dollars. Most banks offer online banking with budgeting tools that allow you to see at a glance where your monthly expenses are. If, during the first few months of retirement, you find that your expenses are significantly higher or lower than you expected, visit your financial adviser again and see how you can adjust your monthly balance.
  • Update your will and insurance. Now that your life circumstances have changed, check your will and insurance policies. Are your beneficiaries up to date on these contracts? Will your will be completed? You may find that the type and amounts of insurance you have are different than what you need now.

 

Choosing The Right Medicare Supplement Policy

You will soon be eligible for Medicare if you you are getting to the age of 65, and you will have to make some decisions. In the event that you are not yet covered by Social Security, your 65th birthday should be the time to apply for original Medicare should (three months before or 3 months after your 65th birthday month).

The Original Medicare consists of Part A, which is usually free, and Part B (health insurance), which usually requires a monthly cost of $ 100 per person (it will be more if your income exceeds certain thresholds) , Medicare is covered by Medicare Part D, which is applied for over the same period but independently of Original Medicare.

However, Medicare supplement plans for 2019 can be quoted at www.bestmedicaresupplementplans2019.com/    Given that most people are likely to need more medical care as they grow older, it makes sense to consider Medicare Supplement Plans, also known as the “Medigap”.

Here are some important points to know about Medigap insurance:

  • Private insurance companies sell these policies. Its purpose is to cover expenses that are not paid for by traditional Medicare, including co-payments, co-insurance, deductibles, and medical benefits outside the United States.
  • You can only buy Medigap policies when you sign up for Part A and Part B.
  • If you plan to buy a Medigap policy, you should do so during your first open registration period. This begins on the first day of the month in which you are at least 65 years old and enrolled in Medicare Part B. From this point on, you will have a six-month window where you can choose any Medigap policy, regardless of pre-existing conditions. Insurance companies must charge you a standardized rate and cannot refuse you because of your illness, provided you sign up for the six-month period. In addition, you must renew your insurance coverage every year, regardless of your state of health.
  • Medigap policies that are sold after January 1, 2006 may not contain prescription drugs. If you wish to take prescription medication, you can subscribe to a Medicare Prescription Drug Plan (Part D) offered by private companies approved by Medicare.

Private insurance companies offer Medicare supplementation, but the types of coverage are standardized. Each Medigap policy must comply with certain federal and state laws.

However, you can choose a specific Medigap policy that meets your needs. These plans are marked with a letter system (Plan A, Plan B, Plan C, etc.). Any insurer offering a plan under any of these categories must provide the standard coverage level set for this category.

Normally, the plans cover co-insurance or co-payments that you have to pay for as part of your Medicare coverage. Other benefits vary depending on the type of plan you choose. The plan you select may or may not include:

  • Nursing care
  • Hospice care
  • Travel abroad
  • Deductible for services otherwise covered by Part A or Part B.

You can decide what kind of coverage is right for your needs. As a rule, the more comprehensive the coverage, the higher the premiums. If you are looking for a Medicare supplement plan, look for ways to find out if you have access to plans that may include long-term care, hearing aids, and vision or dental care.

 

Worried About Enough Money For Retirement?

“Will I have enough money to live comfortably for the rest of my life?”

That’s the burning question that many are asking themselves today.

Will you? If you are concerned and worried, stay awake at night and worry silly, you probably do not have enough money in the bank to retire. What can you do differently?

There are a few things you can do before you retire, or even after you’ve retired from your 40-year plan to enjoy those ever-changing golden years.

Let me help you by making some suggestions on where to start.

Social security is one of the most important decisions that Americans make as they approach retirement, as the age of entitlement can have a significant impact on lifelong benefits and overall pension security. Social security plays a key role in the retirement income of many people.

Do you know when to start using your benefits to optimize your income over the long term?

Science has been awesome and we all live longer. Will you be able to pay your health for the rest of your years? Medicare pays only 80%. What about the other 20% of medical bills? If you fall behind, can you recover?

There are 2019 Medicare supplements plans that cover the entire remainder of the bill that traditional Medicare does not cover. There are many companies that offer them and they are all different in terms of pricing.

Are you the type who has to stay busy? What will you do with all your newly found freedom? This may not be such a problem if you have saved or your earning plans are all in place. But what if you are so tightly calculated that it is even difficult to have lunch with the ladies?

Do you need additional income? It’s all about money, right? Damn, but it’s true.

There are many ways to supplement your income, whether before or after retirement. There are resources of all kinds for almost everyone! It’s just a question of where your interests are and what your time and energy might be.

No matter what stage of life you are in, whether you’re in your 40s, 50s or later, you should be aware of some of the possibilities that you have to be prepared for no matter what comes. Rest assured, to sleep better at night, you have to live a balanced life. This is a special time – it’s your golden years.

To become a member and sign up for one of these Medicare plans, start searching for programs online in your area. You should ensure that the company you use announces its fees in advance and that you read the terms and conditions on the website thoroughly – you do not want to be embarrassed with unexpected cost.

It is also important to review the credentials of the company you are using to ensure that they have a rigorous employment process when they commit dentists to conducting procedures. Make sure you know what treatments are included in your current plan and that you choose the best one for your needs.