Medicare Part D: The $.76 Price Drop

Medicare Recipients: Are You Ready for the Annual Enrollment Period?

Health care costs remain one of the top concerns for seniors and retirees across the country. Questions regarding Medicare coverage and decisions regarding Medigap Insurance coverage are things that most Americans over the age of 65 (and those approaching 65) have to deal with.
Retirement Planning for Seniors
With news swirling around about the future of Medicare, many people were excited to here of the coming drop in the cost for the Medicare Part D drug plan:

“The government-subsidized prescription plan will cost seniors an average $30 a month in 2012, down from $30.76 this year.” (from the Los Angeles Times)

Many believe that the coming decrease is directly linked to Medicare’s use of generic prescription drugs and the competition that can cause between pharmaceutical companies. Because of this competition inherent in the prescription drug market, it’s unclear if other aspects of Medicare coverage will see a similar decrease. Coverage pertaining to hospital stays and general care don’t generally experience the type of bidding and underbidding that occurs when pharmaceutical companies are involved.
Open Enrollment MedicareAs we wait to see exactly how this decrease will affect the future of Medicare, it’s important to point out that, at least for some, the changes to Plan D will have a positive effect:

“The other good Part D news is how many people in the infamous
“doughnut hole” are getting some relief from the 50 percent discounts on covered name-brand drugs (and 7 percent on generics) that took effect this year. Through June, nearly 900,000 people had used the discounts, a number that will increase as the months pass, and each had saved $517 on average.” (from the New York Times)
While we celebrate any savings for seniors, we realize that this doesn’t change the fact that Medicare still doesn’t offer the full range of coverage that some seniors need, which is why we continue to tell seniors to learn about all of the Medigap (Medicare Supplemental Insurance) options available to them.

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The Future of Medigap Insurance

What is Medigap?  How Does it Fit into Your Future Financial and Health Care Plans?

Best Medicare Supplemental Insurance

Future is Bright with Medigap Insurance

As we’ve said before (and no doubt will say many times again), standard Medicare insurance plans simply don’t offer enough coverage for many seniors across the United States. In order to cope with the perceived shortcomings of Medicare insurance, many seniors turn to Medicare supplement insurance plans, also known as Medigap. Like Medicare, Medigap coverage offers a number of options, so seniors have the opportunity to find a plan that suits their specific health needs and financial situation.While Medigap plans continue to serve as a major source of health care coverage for American seniors, questions about the future of Medigap seem to go hand-and-hand with questions surrounding the future of Medicare. As a senior, or as one who is quickly approaching retirement age, it’s crucial to stay informed about decisions that are being made now and proposals that are on the table that could directly affect Medicare and Medigap health care coverage. Congress (“super” or otherwise) are looking at a range of options for cutting the Federal Budget, and without fail, Medigap and Medicare always seem to come up in discussions. However, there are a number of groups and individuals speaking out and telling Congress to leave Medigap alone. If you haven’t been following the debates and the discussions in Washington, we figured we’d give you an overview just so you can know how things stand as of now.

Medigap “On the Table”

As the “super committee” meets to try to figure out how to reduce the nation’s deficit, several members of Congress and lobbyists are turning their eyes toward Medicare supplemental insurance. A recent article on Reuters, RPT-Limits on supplemental U.S. Medicare plans eyed, highlighted some of the current feelings on the subject held by Washington insiders:

“‘This one is clearly on the table,’ said a lobbyist who has been following “super committee” deliberations on ways to trim federal budget deficits by at least $1.2 trillion over 10 years. But super committee Democrats are unlikely to vote to saddle retirees with new out-of-pocket expenses if Republicans refuse to embrace tax increases for the wealthy.”

While the Reuters article somewhat paints this as a purely political topic, it’s important to point out that there are members on both sides of the aisle who want to leave Medigap (and Medicare) relatively untouched.

Medigap Advocates

Medigap insurance plans have found advocates in a number of sectors. Of course, there are those in the health care industry that see Medigap as a necessary source of health care seniors that should be left alone, and there are seniors across the country who agree. One of the most vocal groups in the support of Congress “keeping their hands off” Medicare supplement insurance is the National Commission of Insurance Commissioners (NAIC):

“The National Association of Insurance Commissioners is urging a special congressional deficit-cutting committee to reject potential changes to Medigap coverage that could disrupt markets and encourage new litigation.

“Any changes that affect in-force policies would be unprecedented, NAIC President and Iowa Insurance Commissioner Susan Voss and other executive board members warned in a letter to Sen. Patty Murray, D-Wash. and Rep. Jeb Hensarling, R-Texas, co-chairs of the Joint Select Committee on Deficit Reduction. Medicare recipients could be denied a benefit “for which they have already paid, in many cases, for years,” the NAIC leaders wrote.” (from Insurance News Net)

 

Again, it’s important to stay up-to-date on the moves Congress is making regarding Medigap insurance, as those moves could change the cost and the level of healthcare coverage you receive.
A qualified Medigap professional can walk you through any recent changes and any potential changes to Medigap. This will give you an idea as to whether or not Medigap coverage makes sense for you, and if it does, which Medigap plan is the best choice to cover your needs.

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The Administration Talks Medicare Supplement Insurance

Seniors, is it your right and responsibility to stay informed!

medigap white houseWe continually urge our readers to stay up-to-date on the latest government policies that could affect seniors directly. Knowing where our government reps stand on Medicare, Medicare supplement insurance (Medigap plans), and healthcare in general is crucial, regardless of where you stand or what your party affiliation might be. We as seniors must stay informed. It’s the only way to know what our options are and how we might be affected in the future.

Recently, in a White House press briefing, Secretary of the Treasury, Tim Geithner, spoke directly about Medigap policies and how they might play into future budgetary changes:

“There are a number of provisions in here that will mean that beneficiaries will have a different set of incentives. Right now, if you’re on Medicare and you take a Medigap policy to protect you for first-dollar coverage, the extra cost that comes from that is completely distributed through the system. We’re saying it ought to be built into the premium you pay. We have extra deductibles phased in. We have co-payments on post-acute care — that means home care services.”

“This is serious stuff. It’s not the kind of stuff you would choose to do if you weren’t tightening your belt. But we do it in a fair way. We say it’s not going to affect people who are currently retired; it’s going to affect new retirees, and it will take effect after 2017. You look over 20 years, very substantial savings.” (from White House Press Briefing)

We have said it before, and we will say it again. Regardless of what side of the political debate you’re on, it’s crucial that you stay informed and that you’re aware of where government officials stand on the future of Medicare and Medigap Insurance, as well as the decisions they are making that could directly affect your healthcare coverage.

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Medicare Insurance Beneficiaries Pay Too Much for Medicare Supplement Insurance

Most Medicare Insurance Beneficiaries Pay Too Much for Medicare Supplemental Insurance

The majority of Medicare Insurance beneficiaries who have Medicare Supplemental Insurance pay more than they need to for the exact same coverage.Medicare and Medical Health Insurance

The truth is, Medicare Supplemental Insurance plans are standardized in most states*. This means that no matter which company that a Medicare Insurance recipient chooses for their Medicare Supplemental Insurance, the coverages will be the same from company to company. Save Money on Medicare Supplement Insurance

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Compare Medicare Supplemental Insurance Rates and Plans from Multiple Companies Instantly.

Medicare Supplemental Insurance for Less
Save up to $800 per year or more on Comprehensive Medicare Supplemental Insurance Plans without Pushy Salespeople Invading Your Home.
Call Today (888) 875-4463

Click Here to Compare Medicare Supplemental Rates!

What difference would it make when setting your monthly budget if you could keep an extra $10-$70 a month while increasing the benefits of your Medicare Supplemental Insurance (Medigap) Coverage? How would you feel if you knew for a fact that you had comprehensive Medicare Supplemental Insurance (Medigap) to supplement Medicare Insurance and weren’t paying more than you need to?

  • Save as much as $800 per year or more on Medicare Supplemental Insurance.
  • No Agent Will Come to Your House.
  • Have Comprehensive Medicare Supplemental Insurance (Medigap) – and pay less than you would for your current Medicare Supplemental Insurance Plan.
  • Never pay a penny for Medicare Insurance Approved Doctor or Hospital Costs.
  • Go to ANY DOCTOR or ANY HOSPITAL in the UNITED STATES to use your Medicare Supplemental Insurance.
  • Never ask permission from your insurance company or bother with referrals, PPO, HMO or Private Fee for Service Networks.

You choose where you think you can receive the best care and Medicare Your Medicare Supplemental Insurance (Medigap) Plan will pay the bill on all Medicare Insurance approved charges.

No need to call 20+ Supplemental Insurance Companies.  We do the shopping for you!

Why Shop Around for Medicare Supplemental Insurance

Why do the majority of Medicare Insurance Recipients spend too much for their Medicare Supplemental Insurance? It’s simple, they don’t shop around.

All Medicare Supplemental Insurance Companies Offer the Same Plans.

The simple truth is that in most states, Medicare Supplements are standardized by government regulators in how they supplement your Medicare Insurance. What that means is that whether you get an AARP Medicare Supplement, a Blue Cross Blue Shield Medicare Supplement, a Loyal American Medicare Supplement, a Mutual of Omaha Medicare Supplement or a Medicare Supplement from any other company that offers Medicare Supplemental Insurance, they are under the same requirements for what policies and provisions they are allowed to offer. The standardized Medicare Supplemental insurance policies offered in most states are lettered A-L.

Though Supplemental Insurance Companies can choose which of these Medicare Supplemental Insurance Plans they wish to offer, the coverages for these standardized Medigap Plans are the same from company to company. This is because they are standardized by regulators. However, though the coverages are the same, the prices differ dramatically from one Medicare Supplemental Insurance Company to another.

Shopping Around Multiple Medicare Supplements Saves Money

Unfortunately, most Medicare Insurance recipients do not shop around for the best Medicare Supplement rates and unnecessarily pay hundreds of dollars more than they should for the exact same coverage. Yet by shopping aroundmultiple Medicare Supplemental Insurance Companies, Medicare Insurance recipients can save hundreds of dollars per year for themselves and their families.

Here’s a hypothetical example that reflects how we save thousands of Medicare recipients money on their Medicare Supplemental Insurance. Due to privacy concerns, none of the rates or premiums mentioned here are actual rates from an actual Medicare Supplemental Insurance Company nor is the person mentioned real. This story is clearly a hypothetical situation that illustrates how we help people save money on Medicare Supplemental Insurance and make wise healthcare decisions every day.

Mary, who is a female age 65, becomes eligible for Medicare Insurance and begins shopping for the best Medicare Supplemental Insurance Plans and Rates. She receives information from several Medicare Supplemental Insurance Companies on Medicare Supplement Insurance Plan F.

She receives information in the mail on Medicare Supplemental Insurance Plans from two different Insurance Companies. The first company could offer her a Plan F at a monthly premium of $175 per month and the second company had a premium of only $158 per month.

Would Mary not be foolish to take out a Medicare Supplemental Insurance Plan J for $175 per month when she could get the exact same Medicare Supplemental Insurance Rate of $158? Why would she want to throw away $17 every month?

Mary, however, was not satisfied. She realized that by purchasing Medicare Supplements from any company would offer her the same coverage on her doctor and hospital bills as the same Medicare Supplement Plan from any other company. So she decided she wanted to save as much of her Social Security earnings as possible. So since the coverage was the same from one Medicare Supplemental Insurance Company to any other Medicare Supplemental Insurance Company, she wanted to get rates on Medicare Supplements from every company that could offer her this identical Medicare Supplemental Insurance Coverage.

Rather than having to search for and contact many different Medicare Supplemental Insurance companies that offer Medicare Supplement Insurance Plans, she simply visited Medigap360.com and requested a multiple Company Medicare Supplement rate analysis. When she received her Medicare Supplement Insurance rate analysis she realized that she could get Medicare Supplemental Insurance Plan F coverage for only $125 per month from another reputable company that had not solicited her through the mail.

Mary got Medicare Supplemental Plan F Coverage for less money. She was able to get a Plan F for $396 less per year than the best price she had found before on Medicare Supplement Plan F from other companies.

Getting her Free Medicare Supplemental Rate Analysis really helped Mary supplement Medicare for a lot less money every month. And it only took a few minutes. Since Mary is on a fixed income, she was happy to save every dollar she could. And not only did she save money, but she was able to get one of the most comprehensive Medicare Supplemental Insurance Plans available that allows her to go to any doctor or hospital she chooses.

  • Are you Paying Too Much for Medicare Supplemental Insurance?

  • Are you Getting the Maximum Amount of Supplemental Insurance Coverage Possible to Supplement Your Medicare Insurance?

The Medicare Supplemental Plan F Difference

Medicare Supplemental Plan F offers comprehensive Medicare Supplement coverage. And now Medicare Supplement Plan F is available at lower rates than other plans – even though it offers all of the same coverage of many other plans plus additional benefits. In fact, it covers 100% of all 8 Gaps left by the Medicare Insurance Plan alone:

The 6 Gaps in left by Medicare Insurance Coverage Alone:

All are 100% Covered by Medicare Supplemental Plan F

  • Basic Benefits: This includes: Part A Co-Insurance ($256 per day in days 61-90 and $512 per day in days (91-150) plus an Additional 365 Lifetime Reserve Days at 100% Coverage
  • Part B Co-Insurance (Generally 20% of Outpatient Expenses)
  • Pint Blood Deductible
  • Skilled Nursing Co-Insurance: Coverage from day 21-100 not covered by Medicare
  • Part A Deductible: $1068 upon hospital admission possibly charged once every 61 days
  • Part B Deductible: $135 calendar year deductible for outpatient expenses
  • Part B Excess Charges: The difference between what Medicare Approves and what your doctor actually charges if he doesn’t accept assignment.
  • Foreign Travel Emergency: For coverage when traveling outside of the United StatesThey are all 100% covered by Medicare Supplement Insurance Plan F!

The Medigap360 Difference

At Medigap360 we have been specializing in Medicare Supplemental Insurance since 1984. We pride ourselves in helping Medicare Insurance recipients to save more of their Social Security earnings for themselves and their families while maintaining comprehensive health coverage for the lowest Medicare Supplement Insurance Rates possible. To date, we’ve helped over 10,000 clients save money on their Medicare Supplemental Insurance.

We do this by providing you the most up to date and comprehensive information on Medicare Supplemental insurance Rates from multiple companies. We provide this information to you free of charge and without obligation.

By using Medigap360, gone are the days where you need a Medicare Supplemental insurance agent to come to your house just to pitch you on what he or she wants to sell you. We provide you the information you need to save as much money as possible without sacrificing medicare insurance coverage. And of course, if you need to talk to one of our licensed Medicare Supplemental Insurance Specialists, we are only a phone call away.

Don’t give more of your hard earned Social Security dollars to a Medicare Supplemental insurance company than you need to. Request a multiple company Medicare Supplemental rate analysis today with no obligation.

To learn more about Medicare Supplemental Insurance plans and coverages and how they supplement Medicare Insurance visit our Medicare Supplement Insurance Learning Center or call one of our Medicare Supplemental Insurance specialists today.

For faster service, please have your Medicare Insurance Card and information on your current Medicare Supplemental and Medicare Insurance available.

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