Week 17: Review Your Medicare Supplement during AEP

This time of year is busy with Medicare’s Fall Annual Enrollment Period so we took a short break from The Weekly Wednesday but this week we are back! Medicare’s Annual Enrollment Period is going on now and ends December 7th; this is a great time to have your Medicare Supplement reviewed. If you are new to Medicare and did not know rates increase every year. It’s always a good idea to have your rate and coverage reviewed. To have your plan reviewed give us a call at 844.437.4253.  

Week 16: Part D of Medicare (Drug Coverage)

Now that the Annual Enrollment Period has begun it’s a great time to dive into the topic of Part D of Medicare. Part D is known as your drug coverage. Part D is an optional benefit offered through Medicare if/when you are eligible for Medicare. (You can get a drug plan as long as you have part A of Medicare) If you do not get a Prescription Plan when you sign up for Medicare you will possibly be penalized in the future when you do decide to sign up. The only reason you would not be penalized is if you have another Prescription Plan form a creditable place or if you receive extra help from a government program. When you go on to Medicare you are not required to purchase a prescription plan, but if you do not have creditable coverage and decide to sign up for Part D at a later date you will receive a permanent penalty of roughly 32 cents per month for each month you didn’t have coverage. Also Part D plans can only be purchased during your open enrollment period or during annual enrollment period.

If you are penalized you will be required to pay this as long as you have a Prescription Plan through Medicare. A Prescription Plan can be included with an Advantage Plan but must be purchased separately if you have Original Medicare or Original Medicare with a Supplement. 

Week 15: What to Know About AEP

The Annual Enrollment Period begins October 15th and this is when you can change government ran plans. If you have not heard of AEP or are new to Medicare you will soon know this period well. AEP begins October 15th and ends December 7th and is a period of time that occurs once a year. 
During this time you are able to switch from Medicare Part C, Medicare Advantage Plan, to Original Medicare Part A and B or vice versa. This is also the time to sign up for Part D which is your drug coverage or switch a Part D plan. This is also a great time to have your Medicare (Medigap) Supplement Plan reviewed but you can also have your supplement planned reviewed at any time not just during AEP. For more information or help give us a call at 844.437.4253 Toll-Free.

Week 14: Do You Know What to Pay for Part B and D?

Last week on the Weekly Wednesday we discussed Medicare and what all it covers and costs. To go more in depth on that topic we will be discussing Medicare Part B and Part D.

Part B has a monthly premium based on your income. The chart below will help you to break down what you can expect to pay for your monthly premium.


Part B also has an annual deductible of $185 (2019) that we discussed in last week’s Weekly Wednesday.

Part D which is also known as your drug coverage is also income-based. You can use the chart below to learn more about your monthly premium for your Part D.

For more information or understanding Medicare better give us a call at 844.437.4253.

Week 13: Understanding the Cost of Medicare

Meet Beth, Beth is 64 and turns 65 next month. Beth knows when she turns 65 she will be able to receive her Medicare. Beth isn’t too worried because she knows Medicare pays for everything just like her insurance with the company she just retired from did. Beth figures that she will not have to pay anything because it was taken out of her paycheck when she was working. Little does Beth know that Medicare DOES NOT cover everything and DOES have monthly payments.

If you’re like Beth and turning 65 soon you will want to keep reading as we explain what to expect. Medicare will have premiums, copays, and deductibles you will be responsible for. Medicare is not a free program once you have enrolled. Medicare also does not cover dental, vision, or long-term care. You will not have to pay premiums for your Part A as long as you worked at least 10 years. Your Part A will cover hospital visits, hospice, and some home health services. Your Part A does have a deductible of $1,364 (2019).

Part B of Medicare will cover your outpatient care and has a monthly premium of $135.50 (2019). Part B also has a deductible of $185 (2019). After meeting your deductible you will pay 20% of services. None of this covers your prescriptions which is where Part D comes in. The average cost for Part D in 2019 is $32.50 per month according to the Centers for Medicare and Medicaid Services. These are income based which we will get into in next weeks Weekly Wednesday!

It is a good idea to look into Medicare Supplement (Medigap) Plans to help you cover costs. A Supplement can help you cover out-of-pocket costs like your deductibles and coinsurance. Complementary Products can help you cover dental, vision, or hearing since Medicare does not. If you want to learn more about Medicare or Medicare (Medigap) Supplement Plans give us a call and talk with one of our Senior Insurance Specialist at 844.437.4253.

Week 12: Why Life Insurance and Why Now?

You don’t always hear a lot about Life Insurance until you lose a parent, spouse, or loved one and must deal with the financial aspect of death as you grieve. No one wants to think of someone close to them or themselves eventually passing. We don’t normally like to deal with something until we have to but in this instance planning for tomorrow, today is the best choice. Your family will thank you as they have to make hard decisions after losing someone and financially they will be covered because you planned for them.

The average funeral cost ranges from $7,000-$9,000. A funeral is the third largest expense for a family. By planning early you will not only help your family but you will have peace of mind knowing you have taken care of final costs. By answering the hard questions now your family won’t have to later. There is no medical exam required to purchase a plan and your premium will remain the same with no increases. By purchasing a Whole Life Insurance Policy now, you can guarantee one thing your loved ones won’t have to worry about during this hard time. Give us a call today and we can help you on your way to protecting you and your future! 844.437.4253 Toll-Free

Week 11: National Life Insurance Awareness Month

Welcome back to the Weekly Wednesday!

September is National Life Insurance Awareness Month and a great time to plan your future for your loved ones by getting a Life Insurance Policy. Life Insurance can help provide your loved ones with peace of mind. Not only is your family left grieving after a loved one’s death but potential funeral costs, debt, or health-care bills. When you decide to get Life Insurance you won’t be asking yourself why you bought it but why you didn’t buy it sooner. The younger you are when you buy Life Insurance the more you can save on the expense. Answer the hard questions now so your family doesn’t have to later.

Give us a call at 844.437.4253 Toll-Free for more information!



Week 10: Medicare Supplement or Medicare Advantage Plan (Part C)

Welcome back to the Weekly Wednesday!

You may wonder what the differences are between Medicare Supplement (Medigap) Plan and a Medicare Advantage Plan (Part C).

Medicare Supplement Plans fill in the gaps Original Medicare leaves and a Medicare Advantage Plan (Part C) takes over your Original Medicare (Parts A and B).

A Medicare Supplement Plan doesn’t have networks you can go to any hospital or doctor in the US as long they accept Medicare. With a Medicare Advantage Plan, you have networks, and if you choose a provider outside of your network, you may be responsible for 100% of the charges.

Your Medicare Supplement cannot be cancelled as long as your premiums are being paid. However, Medicare Advantage Plans are approved yearly and can be dropped.

When it comes to Prescription Drug Plans (Part D), you can purchase some Medicare Advantage Plans (Part C) that include Drug Coverage; they are called MAPD’s. But, with a Medicare Supplement Plan, you will need to purchase this coverage separately.

Week 9: Medicare Advantage Plan

Hello and welcome back to our Weekly Wednesday!

This week we will briefly discuss Part C of Medicare (Medigap), also known as a Medicare (Medigap) Advantage Plan. There are three main types PPO, HMO, and PFFS. Part C of Medicare (Medigap) actually replaces both your Part A and B of Medicare (Medigap). Therefore, if you are on an Advantage Plan you will have similar gaps as Original Medicare (Medigap). 

On a Medicare (Medigap) Advantage Plan you will have roughly a $250-300 a day deductible in the hospital the first five days. You will also pay roughly 20% of all your medical bills and pay as high as $6,700 inside your network. Medicare (Medigap) Advantage Plans also have co-pays that are included in your max out of pocket. Lastly, they have networks and depending on what type of plan you have you will pay the full cost of care outside of your network. However, an Medicare (Medigap) Advantage Plan does include some vision and dental coverage, as well as most plans, offer drug coverage. These plans can only be bought during your Open Enrollment Period or the Annual Enrollment Period.

Week 8: Medicare Supplements

Hello and welcome to another Weekly Wednesday! 
Last week we explained Medicare (Medigap) and how it works. Well, remember we talked about those gaps in coverage, this week; we are going to tell you one way to fill those gaps. A Medicare (Medigap) Supplement is sold on the private market and designed to help you fill the gaps in Medicare (Medigap). There are several different types of plans out there, but the most common are F, G, and N so we will focus on those. 
As we talked about last week your Part A (Hospital) has a $1,364 (2019) deductible. Most supplements will take care of your deductible. Then as you, remember Medicare (Medigap) only covers 80% of your outpatient bills (Part B Medical) leaving you with the remaining 20%. Well, guess what! The supplement will cover that for you as well. None of the supplements have networks; as long as they accept, Medicare (Medigap) they will accept the supplement no matter the company. From this point, the supplements vary a little and are a building block.
Plan F: What we call the Cadillac Plan, you won’t see a medical bill on this plan.

Plan G: Part B deductible $185 yearly.

Plan N: $20 co-pays, Part B Deductible $185 (2019) yearly, and excess charges.
Give us a call today, 844.437.4253 Toll-Free!

We’d love to explain the plans to you in more detail and find the one that works best for you!