Annual Enrollment Period

The Annual Enrollment Period is quickly approaching! Do you need help with your Prescription Drug Plan?

The Annual Enrollment Period:

Mid October through the first part of December is often referred to as “Open Enrollment Period” or “Annual Enrollment Period”. They go hand in hand, and here’s why.  During this time, you can not only make changes to your stand-alone drug plan, but you can also make changes to your Medicare Advantage plan (depending on which one you have).  We recommend having someone like us in your corner to assist you through these changes.  Our only requirement for this annual assistance is that you sign up with a Medicare Supplement or Medicare Advantage plan through our advisors.  If you do not currently have one of those plans through us, give us a call today and one of our advisors will be glad to help.  They can be reached at (877) 759-5760, option 1.    

The Annual Enrollment Period comes every year at the same time, beginning October 15th and ending December 7th.  Some clients are under the impression that the Annual Enrollment period is the only time you can change or get a Medicare Supplement.  This is not true. The good thing about Medicare Supplements is that you can change them anytime throughout the year.  This Annual Enrollment Period is only for making changes in a stand-alone prescription drug plan or a Medicare Advantage plan.

Part D Late Enrollment Penalty:

One very important thing to remember is, if you do not obtain a drug plan when you are first eligible, you could receive a late enrollment penalty which is assessed by the Centers for Medicare & Medicaid Services (CMS). The penalty is 1% for each month you go without drug coverage and will always be added to any drug plan or Medicare Advantage plan when you enroll. If you have employer coverage and are on Medicare, I encourage you to check with your employer’s human resource department to ensure the coverage that you have is considered creditable drug coverage.

How can our services benefit you?

The drug plans change every year, so you will need to review your plan annually to see what changes are approaching.  That’s where MWG Senior Services can help!  We offer a FREE service to all our Medicare Supplement and Medicare Advantage clients each year by helping to review your drug coverage to see what changes are being made for the upcoming year. The drug plans are so highly regulated and have so much information to take in, it is hard to know which way to go. We do all the work for you! Already have a supplement with someone else?  No problem!  Any of our advisors can help you look at supplemental options that could help you save some money!

Have questions or need help with your Medicare supplemental options Call MWG Senior Services at 877-759-5760 or email us at seniorservices@morganwhite.com.

When can I buy a Medigap policy?

Are you turning 65 soon?  You might find out that looking through Medicare options is like trying to put together a 1,000-piece jigsaw puzzle.  Fortunately, in this and upcoming blogs, we have selected some frequently asked questions to talk about in more detail.  

We hear this question all the time; “When can I buy a Medigap policy?”  The good news is you can buy Medigap (Medicare Supplement) at any time throughout the year and you don’t have to wait until October 15 – December 7.  The stipulation is, you might have to go through underwriting to qualify for a different Medigap policy. 

In this blog, we will outline:

(1) When you can purchase a Medigap policy without having to go through underwriting.

(2) What is underwriting?

(3) When you can change your Medigap policy if you aren’t happy with it. 

If you purchase your Medigap policy when you are first eligible for Medicare, you can purchase any policy sold in your state without having to go through underwriting.  This means if you have any health problems, you can purchase a Medigap policy at the same rate as a healthy person, if you purchase it within your open enrollment period.  Each person’s open enrollment period will start the first day their Medicare Part B is effective and it will last for 6 months. 

If you decide to change your Medigap policy outside of your open enrollment period, typically you will go through underwriting.  This means, if you have some health problems, the insurance companies could either deny coverage or charge you more due to certain health conditions.  Keep in mind, even though Medigap policies are standardized, the health questions are not.  So, just because you may not qualify for one carrier doesn’t mean that you will be turned down for another carrier.  Check with our advisors to see if there is an option that fits your needs. 

If you are about to lose your group health coverage, you might be eligible for Guaranteed Issue, which is another way you can purchase a Medigap policy without having to go through underwriting.  There are many different qualifications for a Guaranteed Issue period.  Please click here to learn more about your Medicare rights.

To compare prices of different Medigap policies and carriers available in your state, click here.

Now that you know you don’t have to wait until October 15 – December 7 to make changes to your Medigap policy, and you know a little more about changing your Medigap (Medicare Supplement), please don’t hesitate to give us a call at (877) 759-5760 or send us an email at seniorservices@morganwhite.com with any questions you may have pertaining to your specific situation.  Be sure to mention you heard about us through our blog!  Have a great day! 

Source:  Medicare.gov

Turning 65?

Are you turning 65 soon? Are you looking for some answers on what you need to do first to take full advantage of your Medicare options?   We have outlined some simple steps to help you navigate the Medicare maze.  Let’s take a look at what path you might want to take.  Please remember, if you have any questions at all we are just a phone call away. 

We hear this question a lot, “How early should I start looking at my Medicare options?”  We always tell our clients that it is never too early to start educating yourself about Medicare.  You will be bombarded with calls and mail about 6 months before your 65th birthday, which can be pretty overwhelming.  We would recommend finding a knowledgeable advisor at least 4-6 months in advance so you can get the conversation started.  If you are looking for someone to help you navigate the Medicare maze, give us a call at (877) 759-5760 or email us at seniorservices@morganwhite.com.  We would love to help with any questions that you might have. 

Once you are eligible for Medicare, you will need to sign up and drop your Marketplace Health Insurance so that it stops when your Medicare coverage starts.  Most of the time, it is more beneficial for you to sign up for Medicare during the first 3 months of your Initial Enrollment Period.  Doing so could help you avoid late penalties.  Keep in mind, you will not be eligible for premium tax credits or other savings for your Marketplace plan once your Medicare Part A coverage starts.  If you received tax credits to subsidize your Marketplace plan premium, and/or you received these tax credits after your Medicare Part A coverage started, you might have to repay the credits or savings you received when you file your taxes.  

Enroll in Part A of Medicare.  If a person isn’t automatically enrolled in Medicare they can sign up for Part A once their Initial Enrollment Period begins.  This starts 3 months back from the month you turn 65, includes the month you turn 65, and ends 3 months after the month you turn 65.

Decide whether you would like to sign up or delay Part B.  If you do not have creditable coverage through your employer, you would need to enroll in Part B during your Initial Enrollment Period.  If you have creditable coverage through your employer, you can delay Part B.  If your coverage is not considered creditable or you do not have any other coverage, if you don’t sign up for Part B when you are first eligible, you may have to pay a late enrollment penalty for as long as you have Part B.  If you have retiree coverage, you will likely need to be enrolled in both Medicare Part A and Part B to receive full benefits. 

Compare your Medigap options available in your area.  To compare prices of over 19 different Medicare Supplements located in your area, click here.   You will be able to view rates specific to you! 

Let us help you take the guessing game out of what to do to prepare for turning 65 and becoming eligible for Medicare!  We are more than happy to set up a free consultation with one of our Senior Market Advisors that are licensed Insurance agents ready to answer any questions you might have.  Give us a call at (877) 759-5760 or send us an email at seniorservices@morganwhite.com.  Be sure to mention that you heard about us through our blog.  Have a great day!

Source:  Medicare.gov

Medicare Supplement Plan Comparison

Medicare Supplement Plan Comparison

If you’ve found this article, chances are you are doing your homework on your Medicare Supplement plan comparisons. Look no further! We developed a tool for you to use to show instant rates in your area so you can compare all of the Medicare Supplement plans. You can find this tool by clicking HERE.

We call this tool our Medicare Supplement Quote Engine and you’ll be able to see all of the Medicare Supplement plan comparisons from multiple carriers for plans A – N. Once you submit your information, you’ll be able to see all of the plans and rates. We will call you to go over your options and answer any questions.

One of the reasons our clients love us so much is that after we get your Medicare Supplement in place, we will also assist you in finding a Part D prescription drug plan that is most cost effective for you. We have a team in place to help you with your Medicare Supplement options and another team in place to help you with your Part D.

Our clients have found that our team approach benefits them the most. Instead of having one person you can call, you have an entire team that has your back when it comes to Medicare. If you’re new to Medicare and are in your Open Enrollment period for Part B, all of the plans are available to you with NO health questions! If you’ve been on Medicare a while and you’re looking for a lower rate, we will go through health questions with you in order to find a carrier that would best suit your needs.

Got questions?

If you need assistance, we are here to help you navigate the Medicare maze! Just give us a call at (877) 759-5760, option 1. Our advisors are ready to answer all of your questions. You can also email our team at seniorservices@morganwhite.com if you prefer. We look forward to hearing from you soon!

Where do I find the best Medicare Supplement Rates?

Odds are you are reading this article because you want to find the best Medicare Supplement Rates available!  Can’t say I blame you, with coverage being standardized among insurance companies it makes it much easier to compare these Medicare Supplement Plans.   These policies can not have different benefits from one company to the next so comparing plans really comes down to the price and the company’s financial stability.

Compare Medicare Supplement Rates

So now that you know the importance of comparing Medicare Supplement Rates let us explain the best way to compare the plans.

  1. First of all you will need some basic information to look up rates accurately.  This is your date of birth, zip code of residence, gender, and tobacco preference in most states.  These are factors that are required with about 95% of the companies across the country to get a quote.
  2. You want to go to a website or agency that has numerous plans or insurance companies available.  It is a lot of work to go to 15 different companies to get quotes one by one, so we recommend using this quote engine to compare plans all at once.  Compare Medicare Supplement Rates
  3. Spousal Coverage – you may benefit from lower Medicare Supplement Rates if you and your spouse apply together.  Some carriers offer a 7% discount if both spouses are with the same company.  Mutual of Omaha, United of Omaha, Manhattan Life, and others offer this benefit.

When you go to the website referenced above you will be asked some basic questions and then you will have quotes displayed with up to 25 insurance companies in some states.  The plan automatically defaults to the Plan F while showing you the lowest prices at the top.   You can compare different plans “A – N” on the side using the drop down option.

If you have problems accessing quotes feel free to call the toll free number 1-877-936-2991.  We hope you enjoyed this article and we feel certain that following this advice will result in the lowest Medicare Supplement rates available.

Medicare Supplement Rates

Medicare Supplement Plans

Omaha Insurance Company Medicare Supplement

Omaha Insurance Company Medicare Supplement plans are one of the most sought after Medigap policies in the country right now.  Many people like them because they are part of Mutual of Omaha, who is known for their customer service and expertise in the Medicare market.  You can compare their Medicare Supplement Rates through our Medicare Quote Engine.

Omaha Insurance Company Medicare Supplements

Omaha Insurance Company is a part of Mutual of Omaha.

Omaha Insurance Company Medicare Supplement Plans

Like all companies in the Medicare market, plans are standardized so benefits can not vary from one company to another.  However, rates can vary greatly.  As mentioned above it is important to compare rates before choosing a policy because even Omaha Insurance Company Medicare Supplements are not competitive in every zip code.

When you compare plans they will be automatically sorted by the most popular Medicare supplement plan “The Plan F”.   However, you can choose the drop down on the right side to see if there are any other plans that you are searching for.

How To Compare Plans

There are several things to know when comparing Omaha Insurance Company Medicare Supplement Plans or any other company for that matter.  Below they are laid out in a simple numerical format:

  1. Rates – the rates are the most important factor because you are comparing apples to apples. 
  2. Insurance Company Financial Stability – choose an insurance company that has a positive rating with AM Best.
  3. Consider the Plan G – the plan G has lower rate increases across the country on average.  Primarily because it is not a “Guaranteed Issue Plan” which means in most situations people do have to answer health questions to choose this plan.  This creates a healthier group of individuals on the plan which means lower rate increases.

If you need help finding the right Omaha Insurance Company Medicare Supplement contact us at 1-877-936-2991.

Medicare Supplement Plan F vs Plan G

Everyone is familiar with the Medicare Supplement Plan F.  So today we wanted to do a comparison of the Medicare Supplement Plan F vs Plan G.  Plan F is the most popular plan in the market while other studies have shown that the Plan G is the most cost effective plan available.  Below are some facts that show why you should consider the Plan G over the Plan F.

Medicare Supplement Plan F vs Plan G Benefits

The only difference in benefits is that the Plan G does not cover the Part B Deductible ($147 in 2013).  Like the Plan F all other services that are Medicare approved are covered.

Why would I not want a Plan F with better benefits?

After reviewing years of comparisons of these Medicare Supplement plans all across the country it is proven that the Plan G will see smaller rate increases than the Plan F.  There are numerous reasons for these rate increase variables that are a little long for this article, but we will be glad to explain these to you over the phone if you would like to talk.

What is the difference in Medicare Supplement Plan F vs. Plan G premium? (Ex: 69 female in Central Mississippi)

There are many different companies that provide insurance rates but our quote engine at www.medicareinsurancefinders.com will allow you to compare the difference in premiums in minutes.

  • A Rated Carrier – Plan F: $119.37 per month
  • A Rated Carrier – Plan G: $105.12 per month
  • This is a difference of $14.25 per month or $171 per year for a $147 benefit.  Typically this spread will grow over the years due to rate increases which will save you more money in the long haul.

What are the negatives of Plan G?

The only difference of the Plan F vs. Plan G is the Part B Deductible ($147 in 2013).  In our eyes the only negative is paying too much for a Part B deductible; however, you will be responsible for $147 deductible throughout the year if you go to the doctor’s office.  After that deductible is met, it covers 100% like the Plan F.

We recommend comparing the Medicare Supplement Plan F vs Plan G when you become eligible for Medicare so that you do not pay unnecessary premiums.

Medicare Supplement Plan F vs Plan G

Medicare Coverage in a nutshell.

Lower Medigap Rates

If you are looking to lower your current Medigap Rates or purchase a policy with lower Medigap Rates we have a strategy for you.  As of 2013, the Plan F Medicare Supplement is the most popular Medigap policy sold.  However, it is also the plan that receives the highest rate increases across the country as well.

Why Does Plan F get higher rate increases?

The Plan F receives higher rate increases since it is a Guaranteed Issue Plan (no health questions) and because it is what most people enroll in when turning 65.  Then several years later when the rates have increased they are unable to switch due to health conditions.

If you are thinking, “Aren’t all plans guaranteed issue when your turn 65?”  All plans are guaranteed issue when your turn 65 this is called the Open Enrollment Period.  However, there are several plans (A, B, C, F) which are guaranteed issue in situations where someone is losing coverage.  An example would be if John Doe at the office retired at 69 after having a heart attack.  He could get the Plan F without any health questions even if he enrolled in Part B when turning 65.

So how do we protect ourselves from getting these rate increases?

Lower Medigap Rates

Medicare Insurance Finders and MWG Senior Services recommends choosing a Plan G Medicare Supplement to keep your rates down for the long haul.   These plans have lower rate increases than most plans and will typically be 10% – 15% cheaper than the Plan F at your initial purchase price.

PLAN F vs. PLAN G Rates

A prominent Medicare Supplement Company released their rate increases today (April 13, 2013) for their Medicare Supplement Plans in North Carolina. The Plan G received a 7.9% rate increase while the Plan F received an 18.3% rate increase.

The insurance company is one of the 20 largest health insurance companies in the world and is an “A” rated carrier.  This shows that financial strength does not mean that the insurance company will not give large rate increases.  This is why we recommend the Plan G to lower Medigap rates.

Compare Plan G Medicare Supplement Rates

How should I compare Plan G Medicare Supplement rates?  There are several ways to compare these plans and we have listed them below:

  1. Go To the Medicare Supplement Quote Engine offered by Medicare Insurance Finders to get quotes in your zip code.  These rates are displayed online for you to see – it is not a lead form that has agents from all over the country calling you. 
  2. Call 1-877-936-2991 to speak with a certified Medicare Supplement Advisor that can help you Lower Medigap Rates and provide you with southern hospitality.
Lower Medigap Rates

Providing advice on Medicare Supplements for individuals with health issues

Gerber Medicare Supplement

Gerber Medicare Supplement Insurance is offered in many states across the country.  In order to find out if they are offering plans in your state you can click on Medicare Supplement Rates and you will be directed to our Medicare Quote Engine.

Gerber Insurance Company has been around for over 100 years.  They are a prominent name in the insurance industry and are a household name because of the baby products they have offered for years.  Most everyone who reads this article will not only know who the insurance company is but will probably have also eaten their baby food as well as fed their children Gerber Baby Food.

It was a very good idea for this company to begin offering Gerber Medicare Supplements.  They are trustworthy, well known and are a household name that is easy to relate with.  Medigap Insurance is a standardized product so it is not like they are offering plans that have better or worse benefits than other carriers.  They never have to worry about being the “lesser of two companies”.

GERBER MEDICARE SUPPLEMENT INSURANCE

Gerber Medicare Supplement plans must follow the same state and federal laws that other Medicare Supplement companies have to follow.  An easy to outline of coverage is laid out below:

Gerber Medicare Supplement

Medicare Supplement Insurance Outline of Coverage

Medicare Supplement RATES

Gerber Medicare Supplement Rates are not as competitive as they were several years ago when they hit the market.  They still provide excellent customer service and guaranteed renewable benefits; however, if you are looking to pay the least for your Medicare Supplement Insurance our advisors can help you compare plans.

Call 1-877-936-2991 to compare Medicare Supplement Plans today.  Our advisers have years of experience in the senior market and our company has been in business for over 25 years.  We are here to help provide you with excellent benefits.

Mutual of Omaha Medicare Supplement

Looking for a Mutual of Omaha Medicare Supplement? If so you have come to the right place!  Whether you heard about Mutual of Omaha through: the TV show Wild Kingdom, their support in the PGA Golf Tournament, or several people on your street that have a Medigap insurance policy with them we can offer our services in helping you find the best plan for your needs.

Mutual of Omaha Medicare Supplement

Mutual of Omaha is the second largest Medicare Supplement insurer in the country. Not only does the “Mutual of Omaha Group” own several insurance companies such as United World, United of Omaha and Omaha Life Insurance Company, they also take risk and administer for many other Medigap insurance companies like Gerber Life Insurance, Forethought, and others.

The Mutual of Omaha Medicare Supplement is a very attractive product.  Their company provides great customer service, quick claims payment and are lenient on their underwriting questions compared to most insurance companies.  They also provide very attractive rates for individuals turning 65, but understand that companies do issue rate increases and in attained age states your rates will increase even if the company does not give a “Rate Increase”.

Medicare Supplement Rates – Mutual of Omaha

Medicare Supplement rates are an important thing to compare prior to choosing a plan.  As in any of our articles we state that plan benefits are the same amoung insurance companies – it basically comes down to price.  So compare Medicare Supplement Rates and make sure you are not overpaying on your health insurance premiums.

Mutual of Omaha Medicare Supplement Application

As with all Medicare Supplement applications you can enroll by a standard, paper application.  However, Mutual also provides an online application to their clients which is very impressive!  It allows an agent and consumer to take an application over the phone and have it electronically submitted to the company and processed normally within 3 days.  This past week, we had one issued within 1 day – it was an Open Enrollment case so this is not a normal thing.

Mutual of Omaha Medicare Supplement

Mutual of Omaha Online Application – Medicare Supplement Insurance

For help comparing Medicare Supplement Insurance please contact Medicare Insurance Finders at 1-877-936-2991.