The Annual Election Period or Open Enrollment Period as people know it is approaching quickly. Down below you'll find a downloadable copy of our Annual Newsletter. If you are a client of ours, you should receive one in the mail with an updated calendar. The video to the left is a quick summarization [...]
Health coverage for Medicare beneficiaries is provided by Medicare Part A, B, D and supplemental insurance plans. Medicare generally pays 80% of "approved" hospital and medical expenses and 75% of Prescription drugs costs. You must be enrolled in Medicare Part A, B & D to receive these benefits. The key word, however, is "approved." So [...]
The Two-Midnight Rule: Inpatient vs Observation Status In 2013, CMS (Medicare) promulgated the “Two-Midnight Rule", a controversial rule that costs Mississippi's Medicare beneficiaries a lot of money. This rule established time rather than medical conditions as a determining factor for whether or not a person should be admitted as an inpatient. It gives [...]
The Medicare Part B premium will increase from $104.90 to $121.80 in 2016, but the Hold Harmless provision in the Social Security Act exempts most people from the increase because there will be no cost of living adjustment in social security next year. People who have to pay a higher premium because of their income and people who [...]
Medicare supplement insurance plans , also known as Medigap, are standardized Insurance plans specifically designed to work with Original or "Traditional" Medicare. Choosing your Medigap plans help you customize your Medicare plan. You can choose the Medigap and Part D prescription plan that best fits your needs and your budget. Being able to customize your plan is an [...]
Each year Medicare Part D plan sponsors make changes to the plan premiums, copays, tier rankings and formularies. There may also be changes in quantity limits and step therapy requirements. You should receive a letter from your plan informing you of the changes for the coming year. If you are not sure of what to [...]
Traditional Medicare is a fee for service health insurance plan for people over 65 and with certain disabilities. Fee for service means the health care provider is paid a fee for the healthcare service. Traditional Medicare allows you to use any doctor or hospital that accepts Medicare. There are deductibles, copays and the 20% which [...]
Medicare open enrollment is also called the Medicare Annual Election Period. Medicare open enrollment is October 15th through December 7th. During this time, you can make changes to your Medicare Plan. Medicare plans are your primary Medicare plan like Traditional Medicare or Medicare Advantage, or Part D prescription coverage. Medigap plans are not [...]
If you will be turning 65 soon, it’s time to learn about Medicare. You will be getting mail about Medicare plans from every insurance company you’ve ever heard of and some you haven’t. Although it’s very stressful, it is very important for you to learn enough about Medicare to make the right decision about which [...]
