Medicare Advantage Plans are Changing

Medicare Advantage Plans are Changing

Obamacare includes some changes to the Medicare Advantage program:

  • Starting January 2014, Medicare Advantage plans will be held to a minimum loss ratio of 85%
  • Requires restructuring the funding levels to Medicare Advantage plans in order to reduce payments closer to traditional Medicare (i.e. remove the 14% “overpayment” to Medicare Advantage)

            1)  Congressional Budget Office estimates this will cut $145 billion over 10 years

           2)  The payment restructuring was designed to be implemented in 2011.

  • However, in 2012 CMS expanded “quality” payments to Medicare Advantage plans through a demonstration program (outside of Obamacare) that effectively mitigated most of the impact of the Medicare Advantage funding cuts from Obamacare.  The demonstration program is targeted to continue through 2014, at which time the additional bonus payments will end unless other measures are put in place.

MedicareBob™’s explanation:

Medicare Advantage Plans are receiving less money from the Government, therefore the insurance companies are going to have to do better with less money. I look for the smaller Medicare Advantage companies to either go out of business, or be purchased by one of the bigger insurance companies.

Examples: Care Improvement Plus has been purchased by United Healthcare, and Coventry has been purchased by Aetna.

What does this mean to people one Medicare Advantage Plans?

·         Less options

·         Less benefits

·         Maybe more of a monthly premium

The days of paying a $0.00 premium and receiving a rich Medicare Advantage Plan are ending soon. However, when you compare the benefits and premium of a Medicare Advantage Plan to an Employer or Private insurance Plan, Medicare Advantage Plans are still typically going to offer better coverage. Medicare Advantage Plans over the next few years should still offer good benefits for a low monthly premium.

 Robert Bache aka “MedicareBob™”

Cell Phone:1-800-525-0299

www.MedicareBob™.com

AARP Medicare Supplement Insurance

AARP Medicare Supplement Insurance.

Robert Bache aka MedicareBob™ discusses the added benefits that AARP Medicare Supplement Plans offer.

Medicare Advantage Plan PPO (Preferred Provider Organization)

Medicare Part D

Medicare Part D

Robert Bache aka MedicareBob™ answers questions about Medicare Part D.

CLICK ON THE QUESTION OR STATEMENT BELOW AND THE VIDEO WILL OPEN ON YOUR COMPUTER SCREEN.

 

Medicare Part D, How Medicare Part D works

Medicare Part D, When to Enroll into Medicare Part D

Obama Changes Medicare Part D

Medicare Part D, Extra Help

Medicare Part D, what do I pay?

Free Generic Drugs with Medicare Part D

Medicare Part D, How to get the best Part D Plan

How much is Medicare Part D?

Medicare Part D, What is the Donut Hole?

Medicare Part D, tips to avoid the Donut Hole

 

 

 

 

 

Medicare Beneficiaries are overpaying for their Medicare Supplement Insurance

WHY Medicare Beneficiaries are overpaying for their Medicare Supplement Plan?

 

A Medicare Supplement Insurance Plan is offered by private insurance companies to pay the hospital and medical bills that Medicare does not pay.

 

I believe people on Medicare are overpaying for their Medicare Supplement Plan for 3 reasons:

  1. People do not know that all Medicare Supplement Plans offer the same coverage.
  2. People do not know when they can shop for a lower premium.
  3. People do not know how to lower their monthly premium.

1) ALL Medicare Supplement Plans are federally regulated and offer the same exact coverage. Medicare Supplement Plan F is Medicare Supplement Plan F. It does not matter who your Medicare Supplement Insurance Company is, PLAN F IS THE SAME WITH ALL MEDICARE INSURANCE COMPANIES.

Please note, the same goes for all Medicare Supplement Plans, Plan G, Plan N, etc…

2) You can start paying less for your Medicare Supplement Insurance Plan “Right Now”. The Medicare Annual Enrollment Period of 10/15 through 12/07, only refers to your Medicare Part D and/or Medicare Advantage Plan. For your Medicare Supplement Plan, you have the freedom to shop and compare at any time of year.

 

3) It is easy to apply to lower your Medicare Supplement Insurance monthly premium. Most Medicare Supplement Insurance Companies have developed a “Telephonic Application”. This makes it really easy to submit an application to lower your monthly premium.

 

“MedicareBob™” and Senior Healthcare Direct can help. We are 6 licensed insurance agents that are licensed in over 40 states. We are unique because we are approved and appointed with over 35 Medicare Supplement Insurance Companies, Aflac, Aetna, AARP/United Healthcare, Anthem Blue Cross Blue Shield, Cigna, Mutual of Omaha, etc…) It is our job to make sure that our Clients are always paying the best price for their Medicare Supplement Plan.

 

For more information, or to shop your Medicare Supplement Price, please contact “MedicareBob™”

Robert W. Bache aka “MedicareBob™”

Bob@MedicareBob™.com

Senior Healthcare Direct

Toll Free: 1-855-368-4717

www.MedicareBob™.com or www.SrHealthcareDirect.com

 

AARP Medicare Supplement Plans

AARP Medicare Supplement Plans

 

Whether you agree or disagree with AARP’s political stands, the AARP Medicare Supplement Programs have some added bells and whistles.

 

NOTE: AARP is not the insurance company, United Healthcare is.

 

AARP Medicare Plans offer two value added services:

  1. Silver Sneakers Program, you receive a FREE gym membership at participating gyms.
  2. EyeMed, is a vision discount program. You pay only $40.00 for routine eye exams. Plus you save 30% on prescription glasses and up to 20% on contact lenses.

AARP Medicare Supplement Plans also offer:

  • 5% Household discount off of the monthly premium price
  • $2.00 monthly discount off of the monthly premium price for choosing EFT
  • 6 month rate guarantee
  • Community rating

My favorite thing about AARP Medicare Supplement Plans is that AARP does not require a member to “re-apply” to switch Plans. For example, if you have a Plan N and you want to upgrade to a Plan F, AARP is one of the only Companies that will let you do this without medically qualify.

 

AARP is one of the insurance companies that I represent, if you would like to get your quote, or enroll (I am one of the only Agents approved to perform “telephonic enrollments” with AARP), please contact me.

 

Robert W. Bache aka MedicareBob™

1-855-368-4717

Bob@MedicareBob™.com

www.MedicareBob™.com

 

Robert Bache, “MedicareBob™” is the owner of Senior Healthcare Direct. Senior Healthcare Direct is a fully telephonic Medicare Insurance Agency that is licensed in 36 states.

MedicareBob™’s Principles:

  1. Education
  2. Options
  3. Customer Service

Medicare Part D “Extra Help” with paying for your Medications

2013 Requirements to receive Medicare Part D  “Extra Help” with paying for your Medications:  

Must be enrolled in:

  • Medicare Part A
  • Medicare Part B
  • Medicare Part D

Annual Income Requirements:

  • Individual: $17,235
  • Married Couple: $23,265

Your Assets (Medicare refers to this as your “resources”)

Individual: $13,000

Married Couple: $26,580

Resources that are counted towards your amount:

  • Money in Checking and Savings Account
  • Stocks
  • Bonds

Resources that are NOT counted towards your amount:

  • Home
  • One car
  • Burial Plot or up to $1,500 for your burial expenses
  • Furniture and other personal belongings.

To see if you qualify for any Medicare Part D “Extra Help” with paying for your medications, click below.

Click here: APPLY NOW

If you have any additional Medicare questions, please e-mail me: Bob@MedicareBob™.com

Robert W. Bache AKA MedicareBob™

1-855-368-4717 or 727-643-0219

www.SrHealthcareDirect.com

www.MedicareBob™.com

Please like me on Facebook: https://www.facebook.com/MedicareBob™?ref=hl

Medicare Supplement Rate Adjustment in NE

American Continental Insurance Company (ACI) has received approval for a rate adjustment on Medicare Supplement policies currently available in Nebraska.

What You Need To Know:

  • A 6% rate increase is approved for all currently marketed (open block) plans, effective July 1, 2013.
  • ACI Medicare Supplement plans offer a 12-month rate guarantee.

For affected policyholders, the rate increase will become effective on the policyholder’s next Policy Anniversary Date that occurs on or after July 1, 2013.

Robert W. Bache

1-855-368-4717

MedicareBob™

Bob@MedicareBob™.com

Medicare Advantage or Medicare Supplement, which is better for me?

Medicare Advantage or Medicare Supplement, which is better?

They are both good, there is no wrong answer.

Summary of Medicare Advantage Plan:

Low monthly premium
HMO/PPO means you can only go to certain Doctors and Hospitals
“Pay as you go”, you will have copay’s for Medical Services: Doctor visits, Hospitalization, Lab Work, Advanced Imaging, etc…

Is a Medicare Advantage Plan right for me?

If you are comfortable with having a list of Doctors/Hospitals/Facilities, and you do not mind be required to pay a copay every time you use your Plan, than yes, a Medicare Advantage might be a good fit for you.

Summary of Medicare Supplement Plan:

Flexibility, you can go to any Hospital/Doctor/Facility that accepts Medicare
Predictable, Medicare Supplement’s pay what Medicare would normally charge you
An additional $80 to $140 monthly premium

Is a Medicare Supplement Plan right for me?

Not so healthy person: Yes, you will save money by purchasing a Medicare Supplement Plan.

Healthy person: Would you consider the additional monthly premium a cost of living or a waste of money?

Waste of money: Then you are not a Medicare Supplement type of person…
Cost of living: I am 65 or older, things happen…

I am able to discuss this better through my video blog and or on the phone.

CLICK HERE TO SEE MEDICARE’BOB’S VIDEO BLOG

Call Me, Robert W. Bache Toll Free: 1-855-368-4717 or Cell: 727-643-0219.

Obamacare Changes Medicare Part D

Obamacare Changes Medicare Part D:

Medicare Beneficiaries that have high drug costs now, are very familiar with what is referred to as the, “The Donut Hole”.

Coverage Gap or “Donut Hole”: Once a Medicare Beneficiary and the Part D Plan have spent $2,970 on prescription medications, the Beneficiary’s cost increase.  Obamacare is requiring Medciare Part D Plans to pay more during the “Donut Hole”.

Obamacare has already started to increase what each Medicare Part D Plan is required to pay when the Medicare Beneficiary reaches the “Donut Hole”.

Below is a chart of what has happened and what is expected to happen through 2020. As you will see, in 2020, the Medicare Part D Plan will pay 75% of each brand name medication, and the Beneficiary will be required to pay only 25%.

The table below shows the percentage of what a Medicare Beneficiary is and will pay through Medicare Part D due to Obamacare.

YEAR

Brand

Generic

2012

50%

86%

2013

47.5%

79%

2014

47.5%

72%

2015

45%

65%

2016

45%

58%

2017

40%

51%

2018

35%

44%

2019

30%

37%

2020

25%

25%

 

Example:  For a brand name medication that costs the $200.00.

PAST 2012: Once the Medicare Beneficiary entered the “Donut Hole”, the person had to pay $100.00 for a 30 day supply.

PRESENT 2013: This year when the Medicare Beneficiary enters the “Donut Hole”, they pay$95.00 for a 30 day supply.

FUTURE 2020: When a Medicare Beneficiary enters the “Donut Hole”, the cost will only be $50.00 for a 30 day supply.

 

Posted by Robert Bache aka MedicareBob™ 05/14/2013.

Medicare Part B Preventive Services

Medicare Part B (Medical Insurance) covers:

Related resources

2013 Medicare Supplement Rate Increases

May 2013 Rate Change Summary

By Robert Bache on May 1, 2013

Medicare Supplement Rate Changes
May 2013

Company

Effective Date

Ave. Increase

Comments

Aetna Life Insurance Co.6/1/2013(28.4%)Iowa
American Continental Insurance Co.6/1/2013(0.2%)(20%) – 10%; Varies by state
Avera Health Plans, Inc.7/1/201316.8%South Dakota
Bankers Fidelity Life Insurance Co.6/1/20136.8%Illinois
BlueCross BlueShield of North Carolina6/1/20130%North Carolina
Central States Indemnity Co. of Omaha6/1 – 7/1/20135.4%4% – 8%; Varies by state
Colonial Penn Life Insurance Co.1/1/20139.2%Maine
Continental General Insurance Co.1/1/20137%New Hampshire
Continental Life Insurance Co.6/1/20137.7%6% – 9.2%; Varies by state
Equitable Life & Casualty Insurance Co.1/1 – 4/1/2013(0.3%)(12.2%) – 8.7%; Varies by state
Everence Association Inc.4/1/20133.9%2.1% – 5.7%; Varies by state
Family Life Insurance Co.5/1/20136.5%5% – 15%; Varies by state
Heartland National Life Insurance Co.4/1/20136.4%South Carolina
Humana Insurance Co.7/1/20134.9%0% – 8.9%; Varies by state
Liberty National Life Insurance Co.1/1/20130.4%Pennsylvania
Medico Insurance Co.5/1/20138%0% – 9%; Varies by state
Mutual of Omaha Insurance Co.5/1/20135.2%0% – 15%; Varies by state
Pekin Life Insurance Co.3/1/20138%Indiana
Philadelphia American Life Insurance Co.5/1/20136.4%Alabama
Physicians Mutual Insurance Co.6/1/20136.7%0% – 9%; Varies by state
Royal Neighbors of America6/1 – 9/1/201310.3%(7%) – 26.4%; Varies by state
Standard Life and Accident Ins. Co.3/15/20134.7%Maryland
State Farm Mutual Automobile Insurance Co.3/1/20130%(8%) – 5.8%; Varies by state
State Mutual Insurance Co.3/1 – 7/1/201312%9% – 15%; Varies by state
Sterling Investors Life Insurance Co.6/1/20137.4%7% – 9%; Varies by state
Thrivent Financial for Lutherans3/1 – 5/1/20132.3%0% – 5.5%; Varies by state
United American Insurance Co.2/15 – 4/15/20132.3%(10%) – 18.4%; Varies by state
United World Life Insurance Co.5/1/20136%Kansas
UnitedHealthcare Insurance Co.6/1/20132.2%Texas
USAA Life Insurance Co.4/1 – 6/1/20139.5%0% – 33.6%; Varies by state