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 Bounce house for sale 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 Advantage Disenrollment Period

When can I disenroll from my Medicare Advantage plan?

Are you unhappy with your Medicare Advantage plan?  Did you know that the Medicare Advantage Disenrollment Period (MAPD) is January 1st – February 14th every year?  If you are unhappy with your plan, you can disenroll during this time and return to Original Medicare (you cannot switch to another Medicare Advantage plan at this time, but you can enroll in a Part D stand-alone drug plan).  If you miss this period, your next opportunity to change your plan is during the Annual Enrollment Period which is October 15th – December 7th of each year.

But before you disenroll, we recommend that you speak with someone to see if a Medicare Supplement is right for you.  Keep in mind that most people will have to answer health questions, but there are some that may qualify for a Guaranteed Issue period which would eliminate the underwriting process.

We want to help you make an informed decision!

If you would like additional information, please give us a call at 1-800-800-1397 ext. 1397 and mention that you read our article on the Medicare Insurance Finders blog.  We will take care of you just as we would our own family.  We look forward to speaking with you soon!

 

Alabama Medicare Supplement Plans

If you are reading this article most like you are shopping and trying to understand more about Alabama Medicare Supplement Plans.  So if you are not looking for basic information, rates, insurance companies offering this coverage or the best ways to compare these plans you can stop reading and go back to the Medicare Insurance Finders website.

To get started you need to know that Alabama Medicare Supplement Plans are standardized meaning that insurance companies offering plans must follow the basic set of plan design (set into law in the Medicare Modernization Act of 2010).  Below you will see a brief chart outlining these plans.

Alabama Medicare Supplement Plans

Medicare Supplement Insurance Outline of Coverage

Alabama Medicare Supplement Plans – Rates

Since these plans are all standardized and you can see the benefits listed above with the different companies, you should know that rates are an important factor when choosing a plan.  Even Medicare states in the Choosing a Medigap Booklet that you should compare insurance rates because there is no difference between a Plan F with one company or the other.

Alabama Medicare Supplement Plans have pretty competitive rates.   Some states like Conneticut and Florida have rates starting in the $200 range per month for an individual turning 65.  However, Alabama starts at the $100 per month range which is much more affordable.  Visit our Medicare Quote Engine to compare rates online.

Am I required to go to a specific doctor?

Alabama Medicare Supplement Plans do not require you to go to a specific doctor or hospital.  They allow you to see any doctor in the country that accepts Medicare – which is the largest network across the country.

We recommend several quick things to lower your rates and make sure you purchase the best Medicare Supplement available in your area:

  1. Consider a Plan G over a Plan F – lower rate increases statistically
  2. Compare Rates through the MEDICARE QUOTE ENGINE
  3. Speak with someone who knows which companies are prone to give rates increases.

Call us at 1-877-936-2991 if you need help finding an Alabama Medigap Policy!