Posted by J. Garrett Ball, Medicare specialist on March 4, 2010 under 2010 plans, Health care reform | 
Medicare Supplement rates have taken a hit in recent months for South Carolina, with several large companies announcing rate increases. Typically, your rate only increases on your policy anniversary date, so if a company announces rate increases to start on 5/1, for example, the increase affects your rate starting on your policy anniversary date (not on 5/1).
Although reasons for rate increases are complex - one of the main reasons is that most policies go up based on your age - this year’s increases are likely due to two major factors - Medicare changes and the economic climate. Medicare has increased the deductibles from 2009 to 2010, as well as making other changes that enlarge the ‘gaps’ that Medicare Supplemental plans cover. When the gaps that have to be covered are larger, the increased costs are passed on to the end-consumer. With the ongoing uncertainty as far as health care reform and its impact on future Medicare changes, this is something to keep an eye on in future years.
One final factor that is sure to be having an impact on Medicare Supplement companies is the recent influx of people from Medicare Advantage plans and employer coverage, moving over to Medicare Supplement plans. Because of the reduction in benefits/increase in costs with the Advantage plans for 2010, many of those people elected to go to supplemental plans. Also, because many people have lost their retirement health insurance benefits, they have had to elect supplement plans. In both situations, the majority of these people are in ‘Guaranteed Issue’ situations, which means the insurance companies are required to accept them despite any poor health conditions. Unhealthier people equals more claims, which in turn, equals higher rates.
If you are getting a rate increase and want to avoid it, chances are you can do so. Over 85% of people can save money on their Medicare supplement coverage by getting Medigap quotes and comparing supplement options to save money. Visit us at: http://www.securemedicaresolutions.com/medicare-insurance-quote.php to find out if you are in this 85% or the 15% that can’t.
Posted by J. Garrett Ball, Medicare specialist on February 2, 2010 under Uncategorized |
In the current economic climate, everyone wants to get more for less wherever possible. In most aspects of everyday life and finances, this is not a realistic possibility. However, with Medicare Supplement insurance, you often can actually get more (or at least the same) for less.
Medicare Supplements are Federally-standardized (since 1992) and each company is required to provide the exact same coverage plans. So, with that in mind, you can be assured that there is no variability in the coverage offered under a “like” plan or the way that plan is going to pay claims. Everything is standardized.
If you have a Medicare Supplement plan currently, you are likely in the 88% (SMS, 2009) of individuals who are eligible to save money on their supplement insurance for equal (or in some cases, higher) coverage.
The best way to find out if this is your situation is to get quotes online from a reputable brokerage that is going to provide a full, unbiased rate quote comparison. By getting this, you can compare all plans/companies in one place so that you can make an informed decision about the best option for you. In most cases, you will find that you can save money, and there is no reason not to do so. To get a Medigap quote from one Secure Medicare Solutions agent sent to you by email, go to Medigap Quotes or call toll-free 877.506.3378.
Posted by J. Garrett Ball, Medicare specialist on December 11, 2009 under 2010 plans, Medicare News, Part D, Rate Changes |
The Center for Medicare & Medicaid (CMS) recently announced the 2010 Medicare changes, which will have some affect on all Medicare beneficiaries. Despite the fact that there is no cost-of-living adjustment for Social Security for 2010 (for the first time in 20+ years), there are some significant changes to Medicare deductibles, plan premiums, etc that you should be familiar with.
- New Medicare Deductibles
This is the area that affects the largest number of Medicare beneficiaries. The Medicare Part A deductible is increasing from $1060 (2009) to $1100 (2010), and the Medicare Part B deductible is increasing from $135 (2009) to $155 (2010). For those that have Medigap policies, which cover these deductibles, you will not have increased out of pocket costs at the doctor or hospital, obviously. However, if you do not have a Medigap plan to fill in these Medicare deductibles, you will pay these higher amounts beginning in January 2010.
- Part B premium increase
In many cases, the Medicare Part B premium is NOT increasing for 2010. If you currently are paying the standard Part B premium (in most cases, deducted from your SSI check) of $96.40, your premium will likely stay the same.
However, if you are new Medicare Part B enrollee (as of 1/1/2010) OR if you have an income over $85,000 (individual) or $170,000 (married couple), you will likely pay a higher amount. For those new to Medicare Part B, the new standard premium is $110.50, which is a 15% increase from the 2009 Part B premium.
- Changes to Medicare Supplement plans
The Medicare Supplement (Medigap) changes do not actually take effect until June 1, 2010; however, when they do, they will provide some new options and mark the end to some old options. Some plans, such as Plan J, will not be available to NEW applicants, whereas two new plans, M and N, will begin (Medicare Supplement Plans M and N). For a full outline of the new standardized plan chart, visit Medicare Supplements chart.
- Changes to Medicare Part C (Medicare Advantage plans)
As you have probably already seen, if you are on a Medicare Advantage plan currently, the MA plans have changed a good bit for 2010. In most cases, premiums have gone up and there have been some reduction in benefits with some plans. Additionally, some of the major players in the MA marketplace have pulled out of the MA market. This is plan-specific and does not apply to all plans, but it makes it more important than ever to know what you have and know what else is available in your county.
- Changes to Medicare Part D
The Medicare Part D premiums have changed, in nearly all cases, for 2010. In doing so, the plan that was good for you in 2009, may not be as good for you in 2010. Again, this is plan-specific, and the only way to get an accurate picture of how this affects you individually is to do an analysis of your current plan against other options.
Overall, the changes to Medicare for 2010 will be disconcerting to some, causing an increase in out of pocket costs. However, for those with a Medigap plan and who stay on top of their Part D coverage to ensure they have the best possible plan for their unique situation, the impact of these changes can be minimized.
For a full analysis of options available to you, visit Medicare Insurance Quotes.
Posted by J. Garrett Ball, Medicare specialist on November 4, 2009 under 2010 plans, South Carolina Medicare Advantage plans |
Although it may make things more difficult for those who are on Medicare Advantage plans and those who work with them, the annual 45-day enrollment period is what we have to work with. And, this year’s AEP is nearly here.
The 2009 period (for the 2010 plans) is expected to be especially interesting, as there are at least 4 major Medicare Advantage companies pulling out of the Medicare Advantage marketplace completely. This represents hundreds of thousands of customers nationwide that have to find a new company/plan. These individuals also have a special right to purchase a Medigap plan, if they so choose, which they would otherwise have to qualfiy for medically by answering medical questions. However, due to the involuntary loss of their current Medicare Advantage plan, these individuals can choose either a Medicare Advantage or Medigap plan of their choice, with no pre-existing condition exclusions or ability to be turned down.
There are some very good Medicare Advantage plans still in South Carolina for 2010, despite many changes overall to the plans, which has led the aforementioned plans to drop out completely and other plans to raise premiums and/or reduce benefits.
To get information about the 2010 South Carolina Medicare Advantage plans or get quotes, visit South Carolina Medicare Quotes.
Posted by J. Garrett Ball, Medicare specialist on October 15, 2009 under 2010 plans, South Carolina Medicare Advantage plans |
South Carolina Medicare Advantage plans for 2010 are beginning to be released. Despite much concern among seniors that there will not be any more good choices for the privatized version of Medicare, there appears to still be some South Carolina Medicare Advantage plans that will be advantageous to South Carolina seniors.
As always, Medicare Advantage plans may be a good option for you if you cannot afford a Medicare Supplement, qualify medically for a Medicare Supplement, or if you are in very good health with few medical expenses.
The 2010 South Carolina Medicare Advantage plans feature plans with premiums starting at $0. Many of these plans include prescription drug coverage, dental insurance and vision/hearing insurance also.
If you have had Medicare Advantage in the past, or have it now, this is the perfect time to compare your options. As you have probably seen (or will see soon), a good number of the plans are either leaving the Medicare Advantage program altogether or greatly increasing premiums. What was a good option for 2009 may not be a good option for the upcoming year.
To compare options and get information on the plans that are available in your specific county, visit South Carolina Medicare Insurance Quotes. For faster service by email, please enter “MA” and your county of residence in the “Comments” box. We will get back in touch with the relevant information about the plans in your area within 24 hours (usually within one hour!).
Posted by J. Garrett Ball, Medicare specialist on October 12, 2009 under 2010 plans, South Carolina Medicare Advantage plans |
The 2010 South Carolina Medicare Advantage Annual Coordinated Election Period (AEP) is near. It begins November 15 and lasts through December 31.
Because of the significant changes that have been made to the Medicare Advantage program for 2010, it is more important than ever to do a full comparison of your options in order to make an informed decision on which plan would be best for you in 2010.
If your current plan is changing, either premiums or benefits, as most are, the probability is high that you will be able to find another plan that better meets your specific health and benefit needs.
As you may already know, Medicare Advantage plans are a privatized version of the government’s Medicare program that covers some things not typically covered under traditional Medicare. The benefits (and premiums) on these plans range greatly from company to company and from county to county.
To access Secure Medicare Solutions Medicare Advantage information / quotes system, and get the customized information sent to you, visit South Carolina Medicare Advantage.
Posted by J. Garrett Ball, Medicare specialist on September 28, 2009 under Health care reform, South Carolina Medicare Advantage plans, South Carolina Medicare Supplements |
With the already-set and anticipated changes to the Medicare Part C Medicare Advantage program for 2010, Medicare Supplement plans in South Carolina and nationwide are bracing themselves for what they expect to be an “onslaught” of new customers to the Medicare + Medicare Supplement marketplace.
South Carolina Medicare Advantage plans are expected to see increases in premium of $40-70, on average, for 2010, as well as reducing some of the benefits that they have provided in the past. In addition, the days of the $0 premium Medicare Advantage plans are, most likely, gone (or almost gone). Medicare Supplement companies are expecting, and rightfully so, that many of these people will find themselves searching for Medicare Supplement plan options to replace their Medicare Advantage plans.
With Medicare Advantage plans increasing in premium to levels of some of the lower tier supplement plans, plus having more cost-sharing (i.e. co-pays and deductibles), most companies and those in the industry project that the supplement plans will be a more viable option for this Medicare enrollees in 2010.
Coupled with the sharp increase in the last two years of companies dropping retiree insurance, the last two months of this year are projected to be the busiest ever for Medicare Supplement enrollments.
With this information in mind, if you plan to disenroll from a Medicare Advantage plan this enrollment season (or, even if you are changing to a new plan), it is advisable to get an early start on doing so. Companies, agents and Medicare itself are expected to be very busy this enrollment season. Below are a couple of resources if this situation applies to you:
Posted by J. Garrett Ball, Medicare specialist on September 17, 2009 under Part D |
Medicare Part D is easily the most confusing and troublesome part of Medicare. From the varying co-pays to the “donut hole” to the way that plans can change their formularies in the middle of the year, it can be very frustrating.
One of the frustrating aspects of the program for many seniors is the once-a-year enrollment period (Nov. 15-Dec. 31). This is the only time of year (unless you are aging in to Medicare or in a special enrollment period) that you can sign up for a new plan or drop an old plan. This short period of time, coupled with the fact that it falls around the holidays, can make this a hectic time for seniors wishing to re-evaluate your Medicare Part D drug coverage.
Secure Medicare Solutions has developed a solution to this dilemma to ease the pain and headache of comparing, selecting and enrolling in a Medicare Part D drug plan.
The Medicare web site (http://www.medicare.gov) offers a way to compare all of the plans in your zip code based on your specific medications. While it would be nearly impossible to get all of the formularies from the companies and do this yourself, the web site synthesizes all of the information in one place so you can have a ready reference of what your co-pays would be with specifc plans (based on your current medications).
If you are reading this and you are an existing customer (Medicare Supplement or Medicare Advantage) of Secure Medicare Solutions, we perform this analysis for you at no charge. This is a once-a-year service to you. Please either email Garrett directly with your medications or contact us on the Medicare Insurance Quotes form, putting “Part D” in the “Comments” box. You will need to also send your medications and dosages so that we can perform the analysis for you.
If you are NOT a current customer of Secure Medicare Solutions, but you would like to take advantage of this offer, we can help. Please contact us the same way as was listed above - on the Medicare Insurance Quotes form, putting “Part D” in the “Comments” box. We will be happy to help you re-evaluate your current coverage and the 2010 plans once they are released (usually October/early November).
Posted by J. Garrett Ball, Medicare specialist on August 28, 2009 under Medicare insurance news, South Carolina Medicare Advantage plans, South Carolina Medicare Supplements |
South Carolina Medicare Supplement policyholders often ask me about the Medicare Supplement Open Enrollment period, thinking that it takes place at the end of the year (November-December). However, Medicare Supplement Open Enrollment is not a once-a-year occurrence. It occurs only when someone is turning 65 or first signing up for Medicare Part B - NOT each year on an annual basis.
In other words, you can change or add a Medicare Supplement plan at any time during the year, not just during a once-a-year period. Many people do elect to evaluate their options once a year at the end of the year; however, this is not the only time that you can do it. In fact, you are likely to get more attention from the company or broker you are dealing with if you evaluate/change plans in the middle of the year.
Many people get confused about this, in part, because South Carolina Medicare Part D does have a once-a-year Annual Election Period (AEP), and it is November 15-December 31 each year. Also, the Medicare Advantage plans, the privatized version of Medicare, do also have enrollment/disenrollment restrictions, which include a certain times of the year for you to enroll or disenroll from those plans.
Maybe the best time of all to review your South Carolina Medicare Supplements coverage is whenever your rates change. Since coverage is Federally-standardized, there is never any reason to pay more than the bottom-line price for your supplement insurance.
Posted by J. Garrett Ball, Medicare specialist on August 24, 2009 under General, Medicare News, Medicare insurance news, South Carolina Medicare Supplements |
For South Carolina Medicare enrollees, there are many resources through which you can get answers to your questions, obtain information about your benefits, and evaluate your current coverage. We’ve compiled a few of those resources below with links to the corresponding web sites:
- South Carolina Medicare Insurance - Medicare in SC - This is the home page for Secure Medicare Solutions, which is a leading, independent resource for Medicare and Medicare insurance information in South Carolina. At the site, you can research information about your South Carolina Medicare Supplements coverage or South Carolina Medicare Part D information.
- South Carolina Medicare Minutes - South Carolina Medicare Minutes is an independent blog and reference for all things related to South Carolina Medicare and Medicare insurance. The blog has frequent updates about things of interest to those who have Medicare in the Palmetto state.
- Medicare.gov - The Official U.S. Government Site for People with Medicare - Medicare.gov is the official government Medicare site. This site give you information about how the various parts of Medicare work overall, how they work with one another, as well as information about how to sign up for the various parts of Medicare.
- Center for Medicare Advocacy - This is an independent site with unbiased information about Medicare and how it works. You can get the answers to a lot of frequently asked questions on this site.
- Garrett Ball - EzineArticles.com Expert Author - This is the main site for EzineArticles.com, which is a leading, human-reviewed article site, which compiles qualified articles from expert authors from around the world. Garrett Ball, who has been given the designation of expert author, writes articles particularly about South Carolina Medicare Insurance, which can be found on his author home page.
