Going on Medicare – What You Need to Do

Going on Medicare, or turning 65, is one of the largest insurance-related transitions one can have in their life. There is a lot to consider and certainly a lot of information out there about Medicare insurance plans. If you’re like most people, you’ll be inundated with paperwork and solicitations leading up to your 65th birthday – everyone wants to be your friend when you are turning 65!

Here are the five most important things to know when you turning 65 that will make that transition an easy one:

  1. First of all, in most cases, you’ll be enrolled automatically in Medicare A & B. Typically, Medicare sends you a red, white, and blue Medicare card 2-3 months before your 65th birthday. Medicare is always active on the first day of the month you turn 65 (unless your birthday is the 1st day of a month, in which case Medicare starts the 1st day of the preceding month).
  2. Medicare A & B provide good coverage, but there are some “gaps” in Medicare, which is why the majority of people have some other type of coverage – i.e. Medicare Supplements or Medicare Advantage. The “gaps” in Medicare are a couple of Medicare deductibles (Part A deductible = $1,132 and Part B deductible = $162), as well as an unlimited 20% that you are responsible for if you have only Medicare.
  3. There are two types of Medicare insurance plans and they work very differently. It is important to understand the differences. Medicare Supplement plans work with Medicare and pay AFTER Medicare pays. Medicare Advantage plans replace Medicare and pay INSTEAD of Medicare. Coverage varies greatly with these plans.
  4. Medicare Supplement plans are standardized – that is, each company is required to offer the same standard plans, so comparing them is easy to do and is a function of price and company rating. Medicare Advantage plans have a system of co-pays and deductibles that can vary considerably from one company to another. These plans are more difficult to compare because of this, as well as the added factor of having networks (Medicare Supplement plans can be used at anywhere nationwide).
  5. No matter who it is, it is to your advantage (and at no cost to you) to use a Medicare insurance broker, who can explain both types of plans and help you compare the options in an unbiased, centralized place.

To get more information about turning 65 or going on Medicare, you can view Medicare Supplement Insurance. To get quotes and comparisons for Medicare plans in your area, go to Medicare-Supplement.US.

Medicare Supplement Rates – What Determines Medigap Pricing

Medicare Supplement rates can vary greatly from one company to another. Although plan benefits are completely standardized by the Federal government, companies are at liberty to set their own rates and certainly do so. Because of this, you will find that rates can be as different as hundreds (even thousands) of dollars a year difference from one company to another.

If you are comparing Medicare supplement plan options, rates are the primary thing that you want to look at, simply because coverage is standardized. So it is of utmost importance that you understand, not only that rates do vary from one company to another, but why they vary from one company to another.

The easiest way to understand this is to look at a breakdown of what factors go into Medicare Supplement rate pricing:

  1. What Rating Mechanism the Company Uses to Set Rates. This is probably the most important factor to determining what a company will charge for their Medicare Supplement plans. There are three different rating methods: community-rated, attained-age rated and issue-age rated. Although rates with all three types of ratings will go up over time (contrary to what some companies or agents may try to tell you), some methodologies are thought to be more stable over time. Community-rated and issue-age rated, according to Medicare, hold their value more stable over time. In practice, though, I have found that, although the rating method has a large impact on initial Medicare Supplement rates, it is not a certain predictor of future rate stability.
  2. Administrative/Overhead Costs of the Company. Obviously, this factor comes into play, just like it would with anything. If a company does considerably more marketing, has more employees, etc. they are going to end up passing some of those costs on to the consumer. There is no real way to know this in advance, other than general observation, but as always, it is better to be with a larger, more stable company than a “fly-by-night” company.
  3. Marketing Goals/Factors. Companies set their own marketing/sales agendas. Some companies target certain areas, certain age groups, or certain plans in which they want to make their plans competitively priced. In some cases, you will find that companies set their prices at a high enough level as to make it obvious that they don’t want that business, due to it being what they deem to be an unhealthy or adverse risk for their company.

Overall, there are many choices when it comes to Medicare Supplement insurance. Although plans and companies have a large impact on what their rates are, ultimately the state departments of insurance approve all rates. Because of this, it is essential to your financial health and well-being that you get Medicare Supplement quotes from a variety of companies when comparing plans.

Medigap Plan G – The Smart Alternative to Plan F

Medigap Plan G is a smart alternative to Plan F. While many agents and agencies push Plan F primarily, Plan G is generally a better value if you do the math on the two options. When comparing Medicare Supplement plans, it is important to look at all the options and understand the plan differences. In doing so, you will see that there is only one benefit difference between the two plans – Plan F and Plan G. Understanding this benefit difference is the first step to comparing these two plans.

There are several reasons why Plan G is a better value than many of the other plan options, which we’ve spelled out below:

  1. First and foremost, it is a better value, in most cases. The math is simple to do. The only benefit difference between Plan G and Plan F is the coverage of the Medicare Part B deductible. For 2011, this deductible is $162/year. Typically, you will the premium savings on Plan G to be approximately $15-20/month. In an example, if the premium savings is $20/month, then you would spend an extra $162/year (if you go to the doctor) in exchange for saving $240/year. It just makes sense.
  2. The second major advantage to having Plan G is that rates are historically more stable over time with Plan G than with many of the alternatives. The reason for this is simple to understand. Plans F and C, and several others, are required to be offered (by all companies) on a “guaranteed issue” basis when you are losing employer coverage or Advantage plan coverage. Because companies cannot underwrite those plans in these situations, the people on the plans are, on average, less healthy than people on some of the other plans, like Plan G, that are not required to be offered on a “guaranteed issue” basis in these situations. Less healthy people leads to more claims, which leads to larger and/or more frequent rate increases.

For these two primary reasons, you will find that Plan G is a great alternative to other plans like the Plan F. While many people will push for the Plan F, do the math yourself and make an informed decision. I believe you will find that Medigap Plan G is often the way to go. If you have any questions about which plan is right for you or if you want to get a Medicare Supplement quote, please contact using our website: Quotes from Medicare-Supplement.US .

Medigap Plan F – Is the Most Common Plan Right for You?

Medigap Plan F is, without a doubt, the most common Medicare Supplement plan available. It is also the most comprehensive – it covers everything that Medicare doesn’t cover so that you don’t have any out of pocket costs. While there are certainly other plans that will offer a lower premium, none compare in level of coverage to the Plan F. When comparing the various Medigap plan options, it is important to understand what each plan, including Plan F, covers, so that you can determine if it is right for you.

So, what exactly does Plan F cover? Well first and foremost, it covers “Basic Benefits” (all supplement plans do). This includes the 20% coinsurance that Medicare doesn’t cover under Medicare Part A and Medicare Part B. Basic benefits also includes your first three pints of blood needed each year and hospice Part A coinsurance (the 20% that Medicare doesn’t cover). Additionally, Plan F covers the skilled nursing facility coinsurance, which is the 20% that Medicare doesn’t cover, as well as both Medicare deductibles. The Medicare Part A deductible is $1,132/benefit period for 2011, and the Part B deductible is $162/year.

Medigap Plan F also covers the Medicare Part B Excess charges. This is not a common occurrence but can be problematic if you are going to a doctor that does not accept Medicare “assignment”. This means he doesn’t accept the Medicare-approved amounts for a service or procedure, and he or she passes on the “excess charges” to the patient. Plan F covers those charges. Plan F also covers foreign emergency travel, which is a good benefit to have for someone who travels abroad often.

Altogether, with a Plan F, in conjunction with your Medicare Parts A & B, you should not have any out of pocket costs at the doctor or hospital. With this plan, you have predictable out of pocket costs (just pay the premium and nothing else) over the course of the year.

That is the greatest advantage to the Medicare supplement F plan – it allows you predictability and reliability. That is why many people choose this plan; however, it is always good to look at your specific financial means and health needs to see which plan is right for you.

To get Medicare Supplement quotes and information, please contact us on our website.

Medicare Supplement Quotes – The Secure Way to Get Them

Medicare Supplement quotes are the best way to compare the various Medicare supplement plan options. There are many, many options for Medicare supplement insurance in each state, and different options are better in certain areas and for certain ages or situations. The best way to find out which plan or company is right for you is to compare all of your options and choose a plan based primarily on price.

So, why is price the most important thing? Well, put simply, the plans are standardized so there is no variation in coverage. A Plan ‘F’ with one company is the exact same thing as a Plan ‘F’ with another company. So, price is the only differentiating factor. Here are the steps to getting Medicare Supplement quotes:

  1. First and foremost, you must request them from an independent source, such as an independent Medicare insurance brokerage. An independent resource like this will give you quotes for a handful of the competitively priced companies for your age and zip code, so that you can compare them on your own time.
  2. According to http://www.webmediaeu.com/revitol-skin-tag-removal-cream-reviews/, you must give honest and complete information so your quotes can be run accurately. Now, this doesn’t include giving them every piece of personal information you have – for example, to provide quotes, they shouldn’t need your social security number, bank information, etc. To successfully run quotes, all that is needed is age, zip code, gender, and tobacco usage. This will be enough information to give you the information you are looking for. If the source you are using is asking for additional information that you don’t feel comfortable giving out, we recommend using a different source to get your quotes.
  3. Once you have the quotes, you can easily compare plans and companies. Are you on a Medicare Supplement currently? If so, you can compare a “like” plan to see if you would be able to save any money for equal coverage. If you are turning 65, or going on Medicare for the first time, you can use the standardized coverage chart to see what each plan covers. Then from there, you can choose a plan and compare rates using the Medicare Supplement quotes.

If you have any questions or want to get your own set of quotes to compare to your current plan (if you already have one) or other plans you are considering (if you are going on Medicare), please contact us on our website: Medicare Supplements. We are happy to provide the information you request, by email, in an easy-to-understand format.

Medicare Supplement – The Wave of the Future

Medicare Supplement insurance is the wave of the future for those turning 65 in the next few years, including the Baby Boomers who are reaching Medicare eligibility starting this year. Here are the top three reasons why we believe Medicare Supplements are the wave of the future:

  1. First and foremost, they put a limit on your out of pocket exposure. What many people do not realize is that Medicare has no limit on out of pocket exposure. In other words, if you rack up a huge medical bill and have only Medicare insurance, you pay an unlimited 20%. There is no “cap” on what you would have to pay. The main thing that a Medicare Supplement plan does is to eliminate that unlimited amount and put a cap on your “exposure” to medical costs.
  2. Secondarily, they provide predictable out of pocket expenses. With a Medicare Supplement, you can know, in advance, your medical costs for the year, down to the penny. This is simply not possible with other types of health insurance or at other stages in your life. This kind of predictability and stability, especially when you are over 65, is priceless. Essentially, with most of the Medicare Supplement plans, you just pay the monthly premium then you have no additional out of pocket costs. Even on the plans that do have some deductibles or co-pays that are not covered, you can add those on to the premium to figure your total out of pocket costs for the year.
  3. The ever-increasing costs of medical care and treatment. Medical costs continue to skyrocket. What else can you think of that you don’t know the cost of something until it is completed. There is no “menu”, when going to the doctor’s office. You are dealing with your health and simply cannot base your decisions on price. However, these costs can be exorbitant and they are certainly continuing to rise. Medical inflation has generally outpaced inflation in other arenas by a good bit and most believe it will continue to do so. What this means is that you should seek to limit your “exposure” to this, when possible. A Medicare Supplement plan makes this possible.

Altogether, Medicare Supplement insurance allows you to limit your exposure, have predictable expenses, and avoid the ever-increasing health care costs. For these reasons, it is essential for those 65 and over to have some sort of Medicare supplement plan. If you want more information or Medicare supplement quotes, please visit our website to learn more.

Medicare Supplement Insurance Plans – The Surest Way to Avoid Catastrophe

Medicare Supplement insurance plans are the surest way to avoid financial catastrophe if you are over 65 and/or on Medicare. While most people agree that Medicare is good coverage, and it does cover most things, it is certain that you need something to fill in the “gaps” in Medicare coverage. That is where a Medicare Supplement insurance plan comes in.

Why You Need It:
“Original” Medicare is Parts A & B of Medicare. This is your hospital and doctor/outpatient coverage. With only Medicare, this covers approximately 80% of the charges at the doctor/hospital. There is no “cap” on what you would have to pay with the other 20%. So if you rack up thousands and thousands of dollars in charges, which is entirely possible when dealing with medical expenses, you would owe an unlimited 20%. For example, if you have a $100,000 surgery intended to do surgical robots, with only Medicare coverage, you would pay the Medicare Part A ($1,132) and B ($162) deductibles. Then, you would also pay 20% of the total Medicare-approved amounts – approximately $20,000. This is a rough example, but it gives you an idea of the need for Medicare supplement insurance plans, of course there are procedures which are not that expensive, for example the Fort Worth med spas with laser hair removal have affordable prices for this kind of procedures. When you want to have a high quality surgeon, I recommend Anurag Agarwal, M.D. due to his good records and experience. In addition, rhinoplasty in Washington DC, facelift and neck lift, eyelid surgery, brow lift and otoplasty, and laser skin treatments performed by a board certified facial plastic surgeon in Washington DC.

What Does It Cover:
On the contrary, if you have a Medicare Supplement plan to go along with your Medicare, your out of pocket expenses are greatly reduced. First of all, most of the plans pay the Medicare Part A & B deductibles (nearly all of the plans pay this deductible). Also, most of the standardized plans include coverage of the 20% coinsurance that Medicare doesn’t cover. Plan F, which is the most common and comprehensive Medicare supplement plan, covers everything that Medicare doesn’t cover so that you don’t have any out of pocket costs. This is the surest way to have predictable out of pocket costs if you are over 65 and/or on Medicare. To learn more about lasik eye surgery, visit lasikeye.surgery for more information.

So What Should You Do:
In order to have a Medicare supplement insurance plan, you must apply for coverage. You can do this through a Medicare supplement agent or directly through an insurance company. Scalp Aesthetics DC performs hundreds of scalp micropigmentation procedures each year. It is highly recommend, though, that you compare quotes from multiple companies so that you can make an informed, unbiased decision about which company or plan is right for you.

Contact us on our website if you want more information or want a Medicare Supplement quote chart by email.