Medicare Supplement and Advantage Insurance Quotes

Changes in Medicare Supplements Coming

admin — Wed, 03 Jun 2009 15:04:11 +0000

In June 2010 there will be a major reorganization of the Medicare supplement plans that are available. Several of the plans are scheduled to be discontinued and there will be a couple of new options. Also a new hospice benefit will be added and the preventative care and at-home recovery benefits will be eliminated.

However, the bigger issue is that with the reorganization companies will be allowed to start new books of business. That means new rates for everyone. We don’t know at this time how that will affect current rates. Right now the time frame we have been given is that sometime around the first of the year all of the new rates should be released.

We will try and let you know as soon as we hear.

Medicare Advantage Plan Changes

admin — Wed, 06 May 2009 16:19:19 +0000

Both Coventry and Wellcare announced yesterday that they were not going to renew their private fee for service contracts with Medicare in 2010. They both noted that the combination of reduced payments from Medicare and costs associated with meeting the network requirements in 2011 made this segment unattractive.

However, Coventry indicated they were pleased with the performance of their Medicare part D plan.

We expect these types of announcements to continue from many companies as a major consolidation occurs next year in the Medicare advantage system. Don’t be surpised if there are only a few Medicare advantage providers that offer plans next year and it looks like HMO plans will dominate.

The Future of Medicare Advantage

admin — Tue, 31 Mar 2009 01:07:13 +0000

The Obama administration took a shot at the Medicare advantage program last month by announcing plans to institute a bidding process for the Medicare advantage reimbursement payments. Although the details are very unclear, this process is expected to dramatically cut payments to insures which would ultimately be seen in either higher premiums to beneciaries or lower coverage.

Estimates are over 11 million Medicare participants receive their Medicare benefits through the Medicare advantage system. It’s hard to imagine that this would pass in it’s current form with AARP being a major seller of these plans and also a strong lobbying force in congress right now.

This was also a shock to many of the major Medicare advantage insurers stocks as expectations prior to this budget release was that cuts would be implemented over several years.

None of this budget proposal has been passed yet, so it’s a long way off before this fight is final.

Loren

End of Open Enrollment

admin — Fri, 13 Mar 2009 16:40:03 +0000

We are rapidly approaching the end of this year’s open enrollment period and we just received some clarification on the enrollment requirements. Most of our Medicare advantage companies are telling us that the forms need to be in our office by March 31st, not just signed by that date. So make sure you plan for mail time when filling out the forms. Of course if you have any questions call our office at (800) 330-6595.

Loren

Medicare’s Open Enrollment

admin — Thu, 19 Feb 2009 03:53:06 +0000

We are fast approaching the end of the open enrollment period for Medicare advantange plans. From January 1 to March 31 Medicare allows you to join switch or drop your Medicare advantage plan provided you met certain requirements.

In general, this means you can’t switch or join a plan with prescription coverage unless you already have a prescription plan. In addition, you can’t drop prescription coverage or Medicare Medical savings plan during this time period.

What type of switches are allowed is often a point of confusion with our clients. Call the office at (800) 330-6595 to discuss your available options.

Loren

Finding a Doctor

admin — Thu, 05 Feb 2009 21:32:03 +0000

Medicare insurance is increasingly becoming localized. It used to be Medicare plus a supplement was the only option for seniors and individuals on disability. Because of that, nearly all doctors offices and hospitals used to accept Medicare insurance.

This is no longer the case. With the creation of the Medicare advantage program and the decline in reimbursement rates from original Medicare, we are finding that many providers are either declining to add new patients on Medicare or even dropping their Medicare patients entirely.

In addition, we have heard from several providers, that they are concerned that many of the advantage plans do not have contractual requirements. Because of this, they limit their patients options to just a few HMO advantage plans.

Lastly, we are finding Medicare insurance preferences vary even within states. What is accepted in one region as common insurance, does not necessarily mean that is the best option in another region of the same state.

It is now more important than ever to check with your doctors office and local hospital to determine what plans they are accepting.

Loren

Medicare Advantage vs. Medigap

admin — Thu, 22 Jan 2009 02:01:21 +0000

One of the questions I get all of the time is “What type of plan should I choose, a Medicare advantage plan or Medicare supplement?” This can be a very difficult question to answer.

In general, our clients seem to fall into two categories. Clients who are more concerned about the plans coverage and clients who are more concerned about the monthly premium.

For most counties, if you want a plan that provides full coverage, a Medigap plan F,G or J usually offer the best rates. If you are most concerned about the monthly premium, the advantage plans offer the lowest rates.

I believe each person has to evaluate their budget, health situation and personal preference to determine the best plan for their situation.

If you need help discussing the pros and cons of the various plans….call us.

Loren

Medicare Open Enrollment Ending

admin — Mon, 22 Dec 2008 05:11:01 +0000

As the Medicare open enrollment is coming to an end. We have some quick obervations to some frequently asked questions.

Medicare part D is getting more complicated not less. Although we had high hopes coming into this sign up season that the number of plans would shrink, this has not been the case. In fact, it has become more important than ever to check you plans formulary. Which prescriptions you are taking matters more than ever in determining which plan to choose.

Medicare Advantage plans are still popular. Despite the contraversial nature of these plans, most Medicare participants who are contacting us about these plans seem to be satisfied. It is important to check you plans coverage as there has been changes in some of the major plans, but overall the clients we have talked to want to remain in the advantage plan system.

The best way to get complete coverage is still a Medigap plan. With those changes in coverage nearly all of the Medicare advantage plans now require significant co-payments if you use the services. Because of this, individuals who are seeking no co-payments or deductibles are still usually purchasing a Medicare supplement policy.

Switching Medicare Advantage Plans

admin — Fri, 31 Oct 2008 00:40:06 +0000

Since we are coming up on the open enrollment period for Medicare advantage plans, I thought it would be a good idea to quickly review the rules for switching Medicare Part C plans. During November 15th to December 1st, you may switch or enroll for the first time in any Medicare Advantage plan provide you live in the plans service area (generally this would be your county.) The only health question you must answer is do you have end stage renal disease.

In addition, from January 1st to March 31st you may also have the option of switching and/or enrolling in a new Medicare Advantage plan. This can depend on if you are enrolled in a Medicare prescription plan, and if you are changing that prescription plan, so check the Medicare rules prior to enrolling.

Loren

Medicare Part D Update

admin — Tue, 21 Oct 2008 20:54:53 +0000

Although it’s not a surprise, it appears that for 2009 there will be no company that offers coverage for brand name drugs in the coverage gap. There are still several companies that offer coverage for generics in the coverage gap, but generics are usually very inexpensive anyway. The good news is the initial coverage limit was raised to $2,700 for most companies, but it appears there is little relief for those individuals on high-priced name brand prescriptions. We still don’t have enrollment kits for 2009 in yet, but we hope to receive them by the end of the month.

Loren Camp - President