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 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!

 

Florida Medicare Supplement Plan

If you are wanting to explore and compare Florida Medicare Supplement Plans you have come to the right place.  Medicare Insurance Finders specializes in educating people on their insurance options while providing online rates with over 25 insurance companies across the country.

Find the Best Florida Medicare Supplement Plan

The question to ask is how can you find the best Florida Medicare Supplement Plan available without paying an arm and a leg?  There are several suggestions that can help you find excellent Medigap coverage while choosing a cost effective plan and we will cover those below: Continue reading

Oxford Life Medicare Supplement

Oxford Life Insurance Company was recently affirmed at a B++ (GOOD) rating by AM Best Company,the largest rating agency in the United States.  Oxford Life is a part of U-Haul international, Inc. North America’s leading household moving and storage company.  So if you are wondering if purchasing an Oxford Life Medicare Supplement plan I would say that the company has pretty good business experience and will be around a while.

Oxford Life Insurance Company also owns Christian Fidelity Life Insurance Company out of Dallas, Texas.  However, Oxford Life is located in Phoenix, AZ.  Both of these companies focus their insurance efforts on serving the senior insurance markets.  Oxford Life Medicare Supplement plans may be their most well known senior market product, but they have also diversified into the annuity business. Continue reading

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.

Medicare Plans in North Carolina

As you may already know Medicare plans vary in every state across the country. Medicare Plans in North Carolina have better priced options than most states with their Medicare Supplement plans starting around $100 a month.

Medicare Plans in North Carolina

  1. Medicare Supplement Policies or Medigap Plans provide supplemental coverage to Original Medicare.  These plans fill in the gaps (deductibles, copays, and coinsurance) that Medicare does not cover.  These plans are standardized which means every insurance company has to provide the exact same coverage (Plan F is the most popular plan).
  2. Medicare Part D Prescription Drug Plans provide help in covering your prescriptions.  These plans can vary greatly and are not standardized so make sure to compare formularies and limitations before enrolling in a plan.  A Senior Market Advisor at Medicare Insurance Finders can help assist you with this.
  3. Medicare Advantage Plans take over the administration of your Medicare benefits.  In other words, Medicare Advantage Plans will pay the providers their Medicare fees for service but under their negotiated agreements.  MA plans can sometimes include prescription drug coverage and at times can be $0 premium.  However, there are deductibles, coinsurance, co-pays and a common $5,000 + out of pocket maximum per year.

North CAROLINA MEDICARE SUPPLEMENT RATES

Medicare Insurance Finders specializes in Medicare Plans in North Carolina.  We provide the #1 Medicare Supplement Quote Engine in the market.  Our rates are updated monthly and provide the most competitive Medicare Supplement Plans all across the country.

As mentioned in most of our articles rates are the most important factor when it comes to Medicare Supplemental Insurance.  Below are the rates for Medicare Plans in North Carolina.

Medicare Plans in North Carolina

Medicare Supplement Insurance

How to Proceed

If you are wanting to move forward with advice or enrollment about our North Carolina Medicare Supplement Plans, please call us at 1-800-800-1397 option 6.  We will help guide you to the best Medicare Supplement Plan available for your needs.

Health Insurance Plans

At Medicare Insurance Finders, we offer health insurance plans to individuals on Medicare.  With over 25 insurance companies and products in 47 states our Medicare Quote Engine will provide you with instant quotes to the insurance coverage you need.

Medicare Supplement Plans are standardized which makes comparing plans easy.  In a nutshell, each company has to offer the same coverage for a Plan F Medigap plan.  So Mutual of Omaha Medicare Supplements are the same as AARP plans.  This should help you see that price is a big factor in determining which plan you choose.  Unlike traditional health insurance plans where you can choose deductibles and co-insurance options that may not allow you to compare apples to apples.  Medigap Insurance has 10 plans which you can choose from.

The most popular Medicare Supplement Plan is the Plan F.  This coverage picks up all the deductibles and coinsurance that Medicare leaves for you to pay and all the billing is handled electronically with Medicare and the insurance company so you do not have to handle the claims process.

Health Insurance Plans

As mentioned above, Medicare Supplements are not like traditional (under age 65) health insurance plans.  These plans are not affected by the Affordable Care Act (Obama Care) so there will not be any drastic changes in 2014 either.

Medicare Supplement Plans – Outline of Coverage

The below chart shows the outline of coverage for Medicare Supplement Insurance.  Remember these plans are only for individuals that are on Medicare.  They “supplement” or “fill in the gaps” of Original Medicare.  That do not work with a Medicare Advantage Plan and by law they can not include Part D Prescription Drug Coverage.

Health Insurance Plans

Medicare Supplement Insurance Outline of Coverage

If you have questions about your coverage options please contact a Medicare Supplement Advisor at our office by calling 1-800-800-1397 option 6.  Also our main website Medicare Insurance Finders has many different articles about health insurance plans available.

How to purchase Medigap insurance?

It’s kind of funny how most people throughout their whole life have an HR director telling them what their options are for insurance benefits.  Then when you turn 65 and begin a whole new type of health insurance, you are expected to know How to Purchase Medigap Insurance!  

Most likely you are used to having one option through your employer and here is the premium you will be required to pay take it or leave it.  Well Medigap Insurance is not the same.  Medigap Insurance is a supplemental insurance plan that fills in the gaps of Original Medicare (Parts A & B).   In other words, once you have Medicare there are deductibles, coinsurance and co-pays that you are responsible for – Medigap plans covers these expenses. Continue reading