Health Insurance Exchange

The Affordable Care Act is underway with a launch date of the health insurance exchange to be kicked off in October of 2013.  This launch date is not when the actual insurance programs will take place but the Open Enrollment period for a January  2014 start date.

Several questions we have received is will my Medicare Supplement have to be purchased through the exchange?  What is an exchange?  A Health Insurance Exchange is simply a marketplace for individuals to go and purchase insurance.   These exchanges will be operated by each state but they may be operated by the state itself, the federal government, or by partnerships.   Continue reading

Extended Care (Skilled Care) Services of Medicare

Over a million Americans each year are denied access to Extended Care (skilled care) services of Medicare, if they were not classified as “admitted” when they go to the hospital.  We are well aware of the problem, but clients seldom are.  CMS has come down hard on hospitals for “upcoding” to admitted status to receive a higher payment for their services, than they would if they were coded as observational status.

Sometimes we overlook important matters like this, but one gentlemen , Lance of a Midwest state, has experienced this situation.  Lance got a call from the daughter of one of his Med Supp policyholders describing exactly what is being discussed.  Lance took the time to carefully interview his client’s daughter, and forwarded the conversation to me.  Lance gave permission that this information could be shared and we are doing so because I think his work is so well done, and so complete, that you will be able to utilize it should such a situation develop for you. Continue reading

Medicare Supplement Insurance Plan F

The Medicare Supplement Insurance Plan F is the most popular Medigap plan available.  The coverage is the most comprehensive of any plan, and it allows you to go to any doctor or hospital in the country that accepts Medicare.

During your Open Enrollment Period there are No Health Questions for any Medigap Plan available in your state.  In guaranteed issue periods, the Medicare Supplement Insurance Plan F still has no health questions where other plans like a Plan G has health questions during these guaranteed issue periods. Continue reading

Medicare and Business Owners

Medicare and Business Owners costs Analyzed by Medicare Insurance Finders.  Recently  our organization was featured in a Press Release that broke down the real expenses business owners face when pondering leaving the group health insurance plan to switch over to Original Medicare.  Read below to see the summary of the press release and a clickable link to the webpage. Continue reading

Supplemental Insurance – What I should have known!

Lets start with a little story one of our clients told us that they learned the hard way about supplemental insurance.  This is a true story but it happened just a year or two ago and we felt it deserved the opportunity to be told as a warning to others about the pitfalls of not enrolling in supplemental insurance when first eligible. Continue reading

Low Cost Health Insurance Rates

Most Americans want low cost health insurance and have problems affording health insurance costs of $10,000 plus a year for a family.  Also individuals on Medicare and a fixed income are doing everything they possibly can to lower their premiums with Medigap Insurance or Medicare Advantage Plans.

Whatever stage of life you are in it is easy to understand that you want and need low cost health insurance.  Health insurance is a must these days with most doctors requiring insurance to get an appointment.  Seniors are now facing doctors offices that do not accept the Medicare Advantage Plan they enrolled in.  Others are learning that doctors are not taking any new patients.  So the question is what can I do to find health insurance rates that are affordable for my budget? Continue reading

Medicare or Group Health Insurance

When you are still working but approaching the age of 65 and trying to choose Medicare or Group Health Insurance it can be complicated and a little confusing.  Each individual’s situation is different and needs to be evaluated.  It does not take a rocket scientist and by the time you finish this article you can sit down with a calculator and a computer and see what your best options are.

Let’s start by saying if you are going to continue working past 65 and will be staying on the group health insurance plan do not enroll in Medicare Part B.  One, you will lose your Open Enrollment Period (No Health Questions – For Any Plan), which is the first 6 months that you are enrolled in Part B and are over the age of 65.

Two, this will cost you an additional $100 per month minimum when you do not need these benefits with your group health insurance plan already in place.  There are one or two scenarios I would disagree with what I just said:

  1. You are extremely sick and need all the coverage you can get.
  2. Medicare is primary (under 20 employees) and/or your group health insurance doesn’t cover much and has a high deductible/out of pocket (over $2,500) Continue reading

Medicare Insurance Plans

It is time to compare Medicare insurance plans!  Did you know the average person saves over $500 per year when comparing health insurance plans?  Seniors who review rates every three years on their Medicare Supplement Insurance will save between $15,000 – $20,000 over their lifetime.  That is a lot of money saved just by reviewing health insurance quotes.  Medicare Insurance Quotes Click Here! 

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Medicare Part F

There are several “Parts” to Medicare but a commonly used term “Medicare Part F” is actually not a Part of Medicare.  This term is in reference to a Medigap Plan F, which supplements Medicare and fills in the gaps that Medicare leaves for the beneficiary to pay. The four parts of Medicare are Part A through Part D, each cover a different portion of your healthcare costs.

  1. Medicare Part A – Hospital Insurance
  2. Medicare Part B – Medical Insurance
  3. Medicare Part C – Medicare Advantage Plan
  4. Medicare Part D – Prescription Drug Plan Continue reading

Observation vs Inpatient

Observation vs Inpatient: Who foots the bill for rehabilitation services?  You may know that Medicare covers certain services in a skilled nursing facility (SNF) for up to 100 days, but do you know the requirement for Medicare to pay?  If you do not, it could cost you thousands of dollars.

So what’s the secret?  In order for Medicare to pay for rehabilitation in a SNF, you must be admitted as an inpatient to a hospital for no less than three days.  Seems simple enough, right?  This is where we need to look further into the different statuses for a hospital stay.  Continue reading