Medicare Made Easy

Medicare Maze

Understanding your Options when it comes to Medicare Can Be Confusing!

MOST People enter the Benefits System of Medicare at age 65.   However there many that enter the Medicare Program after receiving Disability Benefits for 24 months.  That being said lets break it all down.

Brief History – Medicare was started back in 1965 and for the past 40+ years has help MILLIONS of people with their Medical Expenditures.  Most people during that time have purchased a Medicare Supplement “Med-Sup”, “Medigap” policy to supplement the benefits of Medicare. The 2 most Basic Parts of Medicare are as follows:

Medicare Part A: Hospital Insurance: “mostly expenses that are incurred as an INPATIENT”

Medicare Part B: Medical Insurance: Outpatient Care expenses, Doctor Care and OUTPATIENT Hospital Care

These are just a few of the items covered in each Category In 2006

Medicare Part D – Prescription Drug Coverage was introduced.  At this time there was some MAJOR Confusion that happened in the Market place.

The GREATEST Confusion was that Most did not understand that MEDICARE Part C “Medicare Advantage Plans” became another way to receive benefits.   Lets Break it all down:

There are Basically 2 ways to receive your Medicare Benefits:

Option 1: Original Medicare – You will use your Medicare Card and receive your Benefits under Part A (Hospital) and Part B (Medical).  Than you have the Option of purchasing a STAND ALONE Part D (Prescription Drug) plan that is offered through Private Insurance Companies.  You also have the option of purchasing a Medicare Supplement Policy that will help with the Medicare Approved portions not paid by Medicare Parts A & B.

Option 2: Access your Medicare Benefits through Part C (Medicare Advantage Plan) which some combine Part A & B and Includes Part D all in one plan.   The requirement to enroll in a Medicare Advantage Plan is as followed:  MUST be Enrolled in Medicare Part A & B and LIVE in the Service Area of the Medicare Advantage Plan.

 

ALWAYS seek professional advice from a Licensed Insurance Agent, preferably one that specializes in dealing with Medicare Related Products.  Great place to start is www.nahu.org website.  Here you can find an agent in your area that works in particular markets.  I also recommend that you deal with an agent thats works with Multiple Carriers.  This will allow you to get the best options available for your personal needs.

 

PS: If you ever have any questions, please feel free to reach out to me – 260-497-8200

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ACA – Rollout

HealthCare Exchange or Private Plans

October 1, 2013 starts the Initial Open Enrollment Period for the Affordable Care Act.  aka Obama-Care.  Hopefully this video will shed some light on your options.   Although information is still being released on a daily basis, I wanted to share some of the information that I have learned.  By NO MEANS is this to be construed as the official wording.  Please GET Informed and STAY Informed to this important program.   It will affect our LIVES forever.

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One place that I would recommend you use to find an agent is:  National Association of Health Underwriters.

 

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Changes To Health Care

As we get closer to the Enactment / Roll Out of the Health Insurance Exchanges, it really irritates me how people take HEALTH Insurance for Granted.

We forget that although we all may have ACCESS to Health Care in this country, Health Insurance has been the primary way it is paid for.   IT’S Not FREE and the very fundamental idea / understanding of Insurance is the spreading of risk between all parties involved. Kinda like the “Pay Your FAIR SHARE” concept.  The problem is, the very ones making these Rules and those in the Unions that Support them, Now are upset if when they hear they may have to participate in the Coverage Themselves.   Hmmmmm! Makes on wonder if they truly believe that its as good as they thought.

Let me share what I believe will hurt the system – Four PlansBronze, Silver, Gold and Platinum, Bronze being the lowest cost and Platinum be the Higher.

Would you expect the Bronze to have LOWER Coverage?

Would you expect those that are SUPER Healthy or Little Money to enroll in the Platinum?

What happens when they get sick and want to now buy the Platinum Plan?   Oh Wait, they will be able to make those changes each year with NO UNDERWRITING!

This folks is NOT Insurance!  It’s simply passing the cost off to somebody else!  This will drive the cost even higher than expected!

We don’t have a Health Insurance Problem here in this Country, we have a problem with priorities!

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