Mutual of Omaha Rate Adjustments

Mutual of Omaha Rate Adjustments

Mutual of Omaha is a great Company and is one of the three most popular choices for seniors when purchasing their Medicare Supplement Insurance. Mutual of Omaha has an A+ A.M. Best rating and has been offering Medicare Supplement Insurance since Medicare originated. However, when I search online for consumer reviews, Mutual of Omaha has somewhat of a recent bad reputation. I wanted to share my thoughts on Mutual of Omaha and try to explain why they have had a couple of bad years in reference to recent large rate increases.

In Washington, Congress is looking at the financial stability of Medicare. Both sides of the isle seem to agree that “over utilization” of Medicare by Medicare Beneficiaries is a problem. “Over utilization” refers to how often people go to the Doctor, Hospital, or other Healthcare Providers. The reason that this is a concern is because Medicare has to pay 80% for these Services, and Medicare really does not have much control how often a Medicare Beneficiary uses Medicare. Medicare has the right to decline a Service, but in general when a Service is medically necessary, Medicare approves it. Let’s look at a Medicare Beneficiary that has diabetes for example; said Beneficiary probably goes to the Doctor and receives lab work more frequently than a Beneficiary that does not have diabetes, well Medicare has to pay the 80% co-insurance every time.

Medicare Supplement Insurance: As we know, Medicare pays 80% co-insurance for Medical and Doctor Services. Therefore, most seniors purchase a Medicare Supplement Plan, also call Medigap. A short definition of a Medicare Supplement (Medigap): A Medicare Supplement Plan pays the deductibles and co-insurance (the 20%) that Medicare would normally charge the Medicare Beneficiary. The most popular (Though not usually the best value), is the Medicare Supplement Plan F. Medicare Supplement Plan F is the most comprehensive Medicare Supplement Plan that is offered, as it pays all of the copays and co-insurance that Medicare does not pay for Medicare Approved Services.

New Plan, Medicare Supplement Plan N: In June 2011, the Government / Medicare created a new Medicare Supplement Plan with the hope of reducing said “over utilization” of Medicare, this new Medicare Supplement Plan is called Plan N. Medicare Supplement Plan N is less comprehensive than the Plan F, the Plan N does not pay all of the deductibles and co-insurance that Medicare leaves behind. The Medicare Supplement Plan N has four out-of-pocket expenses that the Medicare Beneficiary is responsible to pay.

1)      The Medicare Part B Deductible, for 2014 this is an annual deductible of only $147.00.

2)      Up to a $20 copay for a Doctor Visit.

3)      $50 copay for ER Visit.

4)      Part B Excess Charges.

This blog post is not to recommend Plan N over Plan F, if you want to read about what I recommend please visit my website, www.SrHealthcareDirect.com.

The Copay within Plan N is the Point of Plan N: The idea is that if a Medicare Beneficiary with a Medicare Supplement Plan is required to pay a $20 copay to go to the Doctor, the hope is that it will reduce the “over utilization” of Medicare. See, when a person has Medicare and a Medicare Supplement Plan F, it does not cost the Medicare Beneficiary anything to go to the Doctor, or Hospital. The hope with Plan N, is that if a Medicare Beneficiary is sick, and it costs the copay to go to the Doctor, than maybe the person may not rush out to the Doctor, maybe they will wait a day or two to see if they can beat the sickness without going to the Doctor. (I could argue with Congress against idea of “over utilization” being a bad thing because in theory, it is cheaper to prevent then it is to treat, so wouldn’t someone that goes to the Doctor more frequently actually save Medicare money in the long run??? I digress)

What does this have to do with Mutual of Omaha? In June of 2011 when Medicare introduced the Medicare Supplement Plan N, Mutual of Omaha took a risk that turned out to me a mistake. Mutual of Omaha had the idea of not requiring any Medicare Beneficiary to medically qualify for the Medicare Supplement Plan N. I can only speculate that they were hoping that only healthy people would want the out of pocket exposure of the Plan N, but I cannot know for sure what their thought process was. Whatever they were thinking, it back fired. (And so was the guy that had this idea) Every sick Medicare Beneficiary that either only had Medicare or had a Plan F with high premium price had the option of joining the more affordable Plan N with Mutual of Omaha, and a lot of them did. Due to all of the claims that were associated with the Plan N, Mutual of Omaha discontinued offering the Plan N after about 8 months and 2 years of large monthly premium adjustments / increases followed.

Mutual of Omaha appears to have corrected this: Mutual of Omaha had larger rate increases than normal in 2012 and 2013 which appears to have stabilized their book of business. For 2014 they are back to being competitive, and the future looks bright and stable as Mutual of Omaha is having industry average rate increases for the Plan F and actual rate decreases in some states for the Plan G. (This is the first reference of the Plan G in this blog post, but if you read my blogs or watch my videos then you know that Plan G is my favorite Supplement Plan and offers the best value most of the time).

Summary: Mutual of Omaha made a mistake in 2011, and their Policyholders had to pay for it. However, moving forward Mutual of Omaha appears to have a good and stable outlook.

Please feel free to call my office, 1-855-368-4717 or me directly with any questions pertaining to Medicare, 1-800-525-0299.

Robert W. Bache aka “MedicareBob™”

President / Producer

Senior Healthcare Direct

Direct Toll Free: 1-800-525-0299

Company Toll Free: 1-855-368-4717

www.SrHealthcareDirect.com

Learn more about Robert aka “MedicareBob™”

www.MedicareBob™.com

https://www.seniorhealthcaredirect.com/medicarebob/

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Physicians United Plan

The State of Florida is seeking to dissolve Physicians United Plan (PUP).

Florida is looking to dissolve the local Medicare Advantage health insurance company.

Health News Florida is reporting, The Florida Department of Financial Services filed a petition in Leon County Circuit Court to place the Orland-based plan into receivership because it is insolvent. The company’s May financial statement reported assets of $92.4 million while liabilities amounted to $105.3 million.

Florida’s commissioner of insurance regulation, “PUP’s insolvency poses a serious danger to the financial safety of the policyholders, subscribers, claimants, creditors and citizens of the state of Florida.”

Physician’s United is a Private health insurance company offering Medicare Advantage Plans to Medicare Beneficiaries in the following Florida Counties: Brevard, Broward, Hillsborough, Lake, Marion, Miami-Dade, Martin, Orange, Osceola, Palm Beach, Pasco, Pinellas, Polk, Seminole, Sumter, St. Lucie and Volusia.

This news is in line with a Blog / Video that I posted last year, “Is Obamacare going to destroy Medicare Advantage Plans?”. Click here to watch video:

The Affordable Healthcare Act is cutting funding to Medicare Advantage Plans, as mentioned in last years blog I wrote, “I believe that the smaller insurance companies will either be purchased by a larger insurance company, or go out of business”, Robert Bache.

PUP is an example of  a Company going out of business because it ran out of money. It is reported that in April, PUP’s leaders acknowledged that the company needed $30 million in capital by June 3rd to avoid liquidation. Obviously, they were not successful in getting the capital and now that State of Florida has asked for automatic liquidation on July 1.

What does this mean to PUP Policyholders?

We are not sure, however the most likely scenario that will occur is:

Policyholders will receive a letter from CMS (Centers of Medicare Services) stating that they are losing their Plan and will have 63 days to find a new Plan. To see what Plans are available please call Senior Healthcare Direct toll free, 1-855-368-4717.

Robert W. Bache aka “MedicareBob™”

President / Producer

Senior Healthcare Direct

Direct Toll Free: 1-800-525-0299

Company Toll Free: 1-855-368-4717

www.SrHealthcareDirect.com

Learn more about Robert aka “MedicareBob™”

 www.MedicareBob™.com

https://www.seniorhealthcaredirect.com/medicarebob/

Please “Like” Senior Healthcare Direct on Facebook:

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Oklahoma

Oklahoma Medicare Supplement Plan F Quotes

Oklahoma Medicare Supplement Plan F Quotes:

Company
Monthly Rate*
Equitable Life & Casualty Insurance Company $101.25
Old Surety Life Insurance Company $101.47
Oxford Life Insurance Company $102.18
American Retirement Life Insurance Company $105.76
Omaha Insurance Company $108.75
Central States Indemnity of Omaha $112.33
Heartland National Life Insurance Company $112.56
Combined Insurance Company $112.75
Philadelphia American Life Insurance Company $113.74
Manhattan Life Insurance Company $114.75

*Rates are for Plan F, lowest non-smoking female, age 65 in the state of Oklahoma

Robert W. Bache aka “MedicareBob™”

President / Producer

Senior Healthcare Direct

Company Toll Free: 1-855-368-4717

Get your quote!

You can get more quotes for Medicare Supplement Plans in Oklahoma.

Is Medicare Supplement Plan G Better then Medicare Supplement Plan F?

Is Medicare Supplement Plan G Better then Medicare Supplement Plan F?

Medicare Supplement Plan G often offers a better value compared to Medicare Supplement Plan F. Medicare Supplement Plan F is still the most popular Medicare Supplement Plan in 2014, but really Medicare Supplement Plan G should be! Medicare Supplement Plan F fills in all of the gaps to Medicare Part A and Part B. Medicare Supplement Plan G offers the same coverage with only one difference, you are required to pay the Medicare Part B Annual Deductible. The Medicare Part B Deductible is only $147.00 for 2014.

On average, the Medicare Supplement Plan F is priced around $25.00 more per month. Why pay the insurance company $300 more per year just so to have the insurance company pay your $147 deductible. Instead, choose Medicare Supplement Plan G and save $300 – $147 = $153.00.

My goal is simple:

  • Educate you about all of our Medicare options.
  • Help you Shop and Compare all of those options.
  • Customer Service: When you call me, I call you back!

CLICK HERE TO GET YOUR MEDICARE SUPPLEMENT QUOTE

SUMMARY:

Plan G: Fills in all of the gaps to Medicare except the Medicare Part B deductible, which is $147.00 per year.

  • Medicare Part B Deductible which is only $147.00 for 2014
  • No copays
  • Any Doctor / Hospital that accepts Medicare

I represent all of the top Medicare Supplement Companies, I save you money by helping you shop.

CLICK HERE TO WATCH A SHORT VIDEO ABOUT MEDICARE SUPPLEMENT PLAN G

 

Robert W. Bache aka “MedicareBob™”

President / Producer

Senior Healthcare Direct

Direct Toll Free: 1-800-525-0299

Company Toll Free: 1-855-368-4717

www.SrHealthcareDirect.com

Learn more about Robert aka “MedicareBob™”

www.MedicareBob™.com

https://www.seniorhealthcaredirect.com/medicarebob/

Please “Like” Senior Healthcare Direct on Facebook:

https://www.facebook.com/MedicareBob™?ref=hl

Twitter: @MedicareBob™ #MedicareSupplementPlanG

Arkansas

Arkansas Medicare Supplement Rates

Arkansas Medicare Supplement Rates Increase effective May 1st 2014

American Continental Life Insurance Company / Aetna:

  • A 5% rate increase has been approved for all currently marketed (open block) plans, effective May 1, 2014.
  • American Continental Life Insurance Company / Aetna Medicare Supplement plans offer a 12-month rate guarantee.
  • For existing policyholders, the rate increase will become effective on the policyholder’s next Policy Anniversary Date that occurs on or after May 1, 2014.

MedicareBob™ Review: A 5% rate increase is not bad, this is one of the reasons that I recommend American Continental Life Insurance Company / Aetna to my clients for their Medicare Supplement Plan.

There is no reason to overpay for a Medicare Supplement Plan. All of the Medicare Supplement Plans offer the same exact coverage, the only difference is the monthly premium price.

Example: AARP Medicare Supplement Plan might charge $125.00 for the Plan F and Blue Cross Blue Shield might only charge $105.00 for the same Medicare Supplement Plan F. The only way to ensure that you are always getting the best value for your Medicare Supplement Plan is shop your Medicare Supplement Plan’s price verse all of the other Medicare Insurance Companies in Arkansas.

If you live in Arkansas, and if you want to see how much money you can save on your Medicare Supplement Plan CLICK HERE to see which Medicare Insurance Company is offering the best value for your Medicare Supplement Plan in Arkansas.

My name is Robert Bache, I am a Medicare Supplement Insurance Broker licensed in Arkansas. I represent over 24 Medicare Supplement Insurance Companies that are all competing for your business. Call Senior Healthcare Direct at 1-855-368-4717 for current Arkansas Medicare Supplement Rates.

You can get more quotes on Medicare Supplement Plans in Arkansas.

Ohio Medicare Supplement Insurance

Ohio Medicare Supplement Insurance

Medicare Supplement Plan N offers the best overall value in Ohio. Medicare Supplement Plan N offers the same coverage as Medicare Supplement Plan F, except for the following gaps:

  1. You are required to pay the Medicare Part B Deductible. (which is only $147.00 in 2014)
  2. You will have a $20 copay per Doctor Visit. ($20 is the most, even for a specialist)
  3. You will have a $50 copay for an ER visit. (This is waived if your admitted and then it pays the same as Medicare Supplement Plan F)
  4. Part B Excess Charge. In Ohio, Doctors/Providers are not allowed to charge Part B excess charges.

NOTE: Plan N has lower annual premium increases compared to Plan F.

Plan F or Plan N, which is the better choice? . Let’s look at an example:

65 year old Male in Erie County:

The top Plan F pricing: $133.96 (USSA)

Now the top Plan N pricing: $95.03 (CIGNA)

I am not “Anti-Plan F”, but we all know that all of these premiums increase every year. If you add in the fact that you will typically have to medically qualify to switch Medicare Supplement Plans in the future, why would someone not start with a Medicare Supplement

If you have any questions about Ohio Medicare Supplement Insurance, call Senior Healthcare Direct at 1-855-368-4717 or get your quote!

P.S. I also help with Medicare Part D.

I represent all of the top Medicare Supplement Companies, I save you money by helping you shop.

You can get more rates on Medicare Supplement Plans in Ohio.

U.S. on high alert for the possible spread of chikungunya virus

U.S. on high alert for the possible spread of chikungunya virus

The possible spread of chikungunya, a mosquito-borne illness, has put public health officials in the U.S. on high alert as the disease spreads throughout the Caribbean. Experts are concerned because the strain is being spread by Aedes aegypti, a mosquito common in the southern U.S. and South America, which could become more prevalent and cause local transmission. The CDC has reported only imported cases of the disease in the U.S., Canada and Brazil, but still advised clinicians to be vigilant in detecting symptoms such as fever and intense muscle and joint pain.

Medicare Prescription Drug Costs, 4 Ways to Lower Your Costs:

4 Ways to Help Lower Your
Medicare Prescription Drug Costs

Are you a person with Medicare who’s having trouble paying for prescription
drugs? Joining a Medicare Prescription Drug Plan may help, even if you have to
pay a late enrollment penalty.
There are other ways you may be able to save. Consider switching to drugs that
cost less. Ask your doctor if there are generic, over-the-counter, or
less-expensive brand-name drugs that could work just as well as the ones
you’re taking now. Switching to lower-cost drugs can save you hundreds or
possibly thousands of dollars a year.
You can also help lower your Medicare prescription drug costs by:
1. Exploring national and community-based programs that might offer
assistance (like the National Patient Advocate Foundation or the National
Organization for Rare Disorders) that may have programs that can help with
your drug costs. Get information on federal, state, and private assistance
programs in your area on the Benefits Check Up website, benefitscheckup.org.
The help you get from some of these programs may count toward your true
out-of-pocket (TrOOP) costs. TrOOP costs are the expenses that count toward
your Medicare drug plan out-of-pocket expenses—up to $4,750 for 2013.
These costs determine when your catastrophic coverage will begin.
2. Looking at State Pharmaceutical Assistance Programs (SPAP) to see if
you qualify. SPAPs in 22 states and 1 territory offer some type of coverage
to help people with Medicare with paying drug plan premiums and/or cost
sharing. Find out if your state has a State Pharmaceutical Assistance Program
at Medicare.gov/pharmaceutical-assistance-program/state-programs.aspx
or calling 1-800-MEDICARE. SPAP contributions may count toward your
TrOOP costs.

3. Looking into Manufacturer’s Pharmaceutical Assistance Programs
(sometimes called Patient Assistance Programs (PAPs)) offered
by the manufacturers of the drugs you take. Many of the major drug
manufacturers offer assistance programs for people enrolled in a
Medicare drug plan. Find out whether the manufacturers of the drugs
you take offer a Pharmaceutical Assistance Program by visiting
Medicare.gov/pap/index.asp or calling 1-800-MEDICARE
(1‑800‑633‑4227). TTY users should call 1-877-486-2048. Assistance
from PAPs isn’t part of Medicare Part D, so any help you get from this
type of program won’t count toward your TrOOP costs.
4. Applying for Extra Help paying for your Medicare prescription drugs.
If you have Medicare and have limited income and resources, you may
qualify for Extra Help paying for your prescription drugs. To apply for
Extra Help, contact Social Security at ssa.gov or by calling
1-800-772-1213. TTY users should call 1-800-325-0778.
If you need help finding resources, like the ones described above, call your
State Health Insurance Assistance Program (SHIP) for free personalized
counseling to people with Medicare. Get their phone number by visiting
Medicare.gov/contacts, or calling 1-800-MEDICARE.

SEE IF YOU CAN SAVE NOW: CLICK HERE

 

Shared by:

Robert W. Bache aka “MedicareBob™”

President / Producer

Senior Healthcare Direct

Direct Toll Free: 1-800-525-0299

Company Toll Free: 1-855-368-4717

www.SrHealthcareDirect.com

Luzerne County Pennsylvania Medicare Supplement Insurance

Luzerne County Pennsylvania Medicare Supplement Insurance

Medicare Supplement Plan N offers the best overall value in Pennsylvania. Medicare Supplement Plan N offers the same coverage as Medicare Supplement Plan F, except for the following gaps:

  1. You are required to pay the Medicare Part B Deductible. (which is only $147.00 in 2014)
  2. You will have a $20 copay per Doctor visit. ($20 is the most, even for a specialist)
  3. You will have a $50 copay for an ER visit. (This is waived if your admitted and then it pays the same as Medicare Supplement Plan F)
  4. Part B Excess Charge. In Pennsylvania, Doctors/Providers are not allowed to charge Part B excess charges.

Agents want to sell you Plan F because it is easy to explain and agents make the more money selling Plan F over Plan N. Lets look at an example:

Pricing for a 70 year Non-tobacco male that lives in the zip code 18222:

The top three Plan F pricing:

  1. Stonebridge Life: $153.14 per month
  2. Manhattan Life: $156.50 per month
  3. Philadelphia American: $157.31

***Companies you have heard of: Cigna: $160.64, Humana: $165.26, Aetna: $168.66, Mutual of Omaha: $170.77.

Now the top three Plan N pricing:

  1. United Healthcare $108.07
  2. Philadelphia American: $110.12
  3. Manhattan Life: $110.25

***Companies that you have heard of: CSI: $111.08, Cigna: $111.34, Aetna: $120.25, Humana: $120.36.

I am not “Anti-Plan F”, but we all know that all of these premiums increase every year. If you add in the fact that you will typically have to medically qualify to switch Medicare Supplement Plans in the future, why would someone not start with a Medicare Supplement Plan N in Pennsylvania?

Take a look for yourself, CLICK HERE FOR A FREE QUOTE:

Also, please call me and I would love the opportunity of being your Luzerne County Pennsylvania Medicare Supplement Insurance Agent. (DIRECT PHONE LINE: 1-800-525-0299)

P.S. I also help with Medicare Part D.

I represent all of the top Medicare Supplement Companies, I save you money by helping you shop.

Robert W. Bache aka “MedicareBob™”

President / Producer

Senior Healthcare Direct

Direct Toll Free: 1-800-525-0299

Company Toll Free: 1-855-368-4717

Discover what is the best Medicare Supplement Plan in Pennsylvania.

 

 

Pennsylvania Medicare Supplement Plan N offers the Best Value

Hello Pennsylvania,  I am Robert W. Bache. I own Senior Healthcare Direct and I really can help you.  I am the best option to help you because I am licensed and approved with all of the major Medicare Insurance companies, so I can help you understand your Medicare options and help you shop for the best value.

My goal is simple:

  • Educate you about all of our Medicare options.
  • Help you Shop and Compare all of those options.
  • Customer Service: When you call me, I call you back!

In Pennsylvania the Medicare Supplement Plan N is often the most cost-effective Medicare Supplement Plan. Plan N pays all the big bills that Medicare would normally charge you, and has a lower premium than Plan F and Plan G.

Plan N: Fills in all of the gaps to Medicare except.

Deductible: $147.00 annual

$20 copay for Doctor visit (you will never pay more than the $20 even for a Specialist)

$50 copay for ER (Waived if your admitted, and then pays all hospital bills)

Any Doctor and/or Hospital that accepts Medicare

 I represent all of the top Medicare Supplement Companies, I save you money by helping you shop.

CLICK HERE TO GET A FREE QUOTE

Robert W. Bache aka “MedicareBob™”

President / Producer

Senior Healthcare Direct

Company Toll Free: 1-855-368-4717

Discover what is the best Medicare Supplement Plan in Pennsylvania.