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.

Michigan Medicare Supplement Rates

This article will be straight forward and explain how to get Michigan Medicare Supplement Rates in quick and hassle-free manner.  First of all, understand that Medigap plans supplement Medicare – they are not Medicare Advantage Plans which take over the administration of your Medicare coverage.

Michigan Medicare Supplement Rates

Prior to looking up rates you will need several basic pieces of information in order to compare plans.  Date of Birth, Gender, Zip Code, and Tobacco preference are the three items that are required with 90% of the Michigan Insurance companies.  Now there will be health questions for the coverage unless you are in your Open Enrollment Period or Guaranteed Issue Period, but the health questions are not extreme so it is at least worth considering prior to writing it off because you don’t feel you are healthy enough.

So if you are wanting to compare Michigan Medicare Supplement Rates whether you live in Detroit or Grand Rapids this is an easy want to get some quotes.  Go to www.medicareinsurancefinders.com and fill in the information on the side of the screen.  The box to fill out looks like this:

Michigan Medicare Supplement Rates

Hassle Free Rate Comparison

Once you have filled in this information and confirmed on the next screen you will see rates with over 30 insurance companies in the state.  Another good thing is that you can compare rates in 47 states across the country in less than 1 minute.

What do I do now?

Once you compare rates you should ask yourself if you are paying too much for your current plan!  These plans are standardized and the coverage between companies is the same which means that if you are paying $30 or more per month over what you are quoted on the Medicare Supplement Quote Engine you could be saving over $360 per year…. We see huge savings every day and really recommend taking less than 2 minutes of your time to look at what is available.

If you see you like a plan that is available and would like to see if you qualify call us at 1-877-936-2991.  We help people every day who are in their Open Enrollment Period or just need help comparing their current policy.  We would love to help you in order to make sure you have the best Michigan Medicare Supplement Rates available!

 

Affordable Health Insurance

Affordable health insurance for those 65 years or older.  It is the time of the year to compare Medicare insurance plans and also to enroll through the federal and state exchanges.  We are going to give you some ways to compare plans and also some tips on the best way to compare insurance plans.

Affordable Health Insurance

Let’s start by understanding that affordable health insurance has a different meaning to different people.  So you may think a plan is affordable that is $400 per month and I may think that an affordable plan is $100 per month.   It is not that either one of us are right it is simply a matter of opinion.

As of October 1, 2013, the Affordable Care Act put in place health insurance that is available to all Americans.  This means that no matter what pre-existing condition, what income, what state or any other factor you can apply for health insurance and can not be turned down.  This is assuming that you are a legal citizen and are in compliance with the law.

As of October 15, 2013, many Medicare beneficiaries will begin comparing their Part D (prescription drug plans) and Part C (Medicare Advantage plans) to see what is the most cost effective plan for 2014.  Many of these plans are considered affordable; however, a lot of American are disagreeing about the under age 65 plans.

Affordable Health Insurance – Medicare Supplements

We recommend going to the Medicare Supplement Quote Engine also known as the Medicare Insurance Exchange around here.  This quote engine works in 47 states and will compare plans in less than 2 minutes without having to put in your social security number and other information that is irrelevant to getting a quote.

If you are not computer savvy we recommend you call 1-877-936-2991. One of the advisors are there and can help you compare plans.  They will need to know some basic information to compare plans.

Under Age 65 – Health Insurance Plans

The best way to compare plans through the federal exchanges is to go to www.healthcare.gov. This website will allow you to choose your state and compare plans.  The negative of finding affordable health insurance through this site is that it is not a smooth process.  Currently they are experiencing a lot of computer glitches and overloading from people coming to the website to compare plans.

Affordable Health Insurance

The Federal Health Insurance Exchange – Affordable Care Act

Before enrolling in a plan we recommend you make sure you understand the health insurance policy.  There are going to be different levels of benefits labeled by Bronze, Silver, Gold and Platinum.  These represent the coverage amounts.

One other thing to understand is that some insurance companies may not be represented on the federal exchange but their policies are available through private exchanges.

We wish you luck in finding affordable health insurance and if we can be of any assistance please contact us at 1-877-936-2991.

 

When to apply for Medicare Supplement Insurance?

Are you wondering when to apply for Medicare Supplement Insurance?  The Medicare and You booklet, published by the Centers for Medicare and Medicaid Services, states that the best time to enroll in a Medicare Supplement Plan is during your Open Enrollment Period.  Unlike Medicare Part C & D, the Open Enrollment Period for Medicare Supplements is the first 6 months after you reach 65 and are enrolled in Medicare Part B.

Why is it so good to apply during this time?

The reason you want to apply for Medicare Supplement plans during this time frame is because you do not have to answer any health questions. This means that any pre-existing condition is covered with no waiting periods.  Also you can apply with any of the companies you choose – you are not funneled to the high risk pool.

When to Apply for Medicare Supplement Insurance?

There are different time frames in which applying for insurance is crucial.  As mentioned above there is the Open Enrollment Period for Medigap Insurance.  There are also guaranteed issue rights.   Without going into too much detail here, there are 7 different time frames when you can enroll in a supplemental policy with no health questions outside of your first 6 months with Medicare Part B.

Some examples of these guaranteed issue rights are: losing group coverage, losing MA coverage, insurance company going broke, or you were lied to or misled into enrolling in a plan.  You may be saying, “that’s great, but now what do I do and I how do I prove I am in one of these guaranteed issue time frames?”.

  1. You have to know when to apply for Medicare Supplement Insurance.  An application must be written within 63 days of losing coverage or one of the guaranteed issue rights happening.
  2. You will receive a letter from the company notifying you that your coverage was cancelled or Medicare Advantage plan will no longer be offered.  This will be required when applying for a Medicare Supplement.  Submit with your application, if you do not have your letter at the time submit the application but it will not be approved until the letter is received.

When to apply for Medicare Supplement Insurance is important since there are time restrictions. If you need help navigating these time frames call us at 1-800-800-1397.

When to apply for Medicare Supplement Insurance

When to apply for Medicare Supplement Insurance

Buy Medicare Supplement Insurance

If you are looking at different insurance supplemental insurance options for Medicare and want to make sure you buy Medicare supplement insurance correctly the first time you have come to the right place.  Medicare Insurance Finders will provide you with the top 5 tips for purchasing Medicare Supplement Insurance. Continue reading