Medicare enrollees are generally more likely to experience mental health issues. In fact, about 1 in 5 elderly citizens suffer from some form of mental disorder. Thankfully, Medicare provides coverage for counseling which can make support more accessible. Mental health programs and services exist to diagnose and treat mental health needs. As a Medicare beneficiary,…
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Rating Methods For Medicare Supplement Plans
Original Medicare does not have an annual limit on out-of-pocket costs, and 4.5 million Medicare recipients are expected to spend more than $5,000 each on out-of-pocket health care costs in 2023. This lack of financial protection, combined with the fact that Original Medicare doesn’t cover all medical costs, has led to a lot of people…
Medicare Tax: What You Need To Know
Medicare tax is a federal payroll tax that contributes to Medicare funding. All U.S.-based workers are required to pay Medicare tax on their wages. In accordance with the Federal Insurance Contributions Act (FICA), the tax is grouped together. When reviewing your paycheck, the Medicare tax and Social Security tax may appear as a single deduction…
Medicare Supplement Plan N vs. Plan G: Which Plan Is Better?
If you are a Medicare recipient or are about to become one, you may have noticed that Original Medicare (Parts A and B) does not cover all of your medical costs. Therefore, you will likely need a Medicare Supplement Plan to help cover out-of-pocket expenses. The good news is, you have plenty to choose from,…
What Is A High-Deductible Medicare Supplement Plan?
Medicare Supplement Insurance fills in the "gaps" left by Original Medicare by paying for things such as copayments, deductibles, and coinsurance. A high deductible choice is available with some Medicare Supplement policies. The premiums for high-deductible Medicare Supplement Plans are lower than those for regular plans, but the coverage threshold is higher. If the premium…
What is Medicare Supplement Plan Underwriting?
Medical underwriting is a process health insurance companies use to decide how risky you are to insure and how much your premium should be. If you’re eligible for Medicare and want to also add a Medicare Supplement Plan to your Original Medicare coverage, the private insurance company you choose may require you to go through…
Reasons to Work With A Medicare Agent
You can technically enroll in Medicare and Medicare products on your own. You can do all your own research on Medicare, Medicare Advantage, and Medicare Supplement Plans. Or you can look into all of the providers available. You can even search for quotes for these plans on your own. However, is this the best way…
Medicare Supplement Plan G vs Plan F
Original Medicare, which is made up of Medicare Parts A and B, pays for a portion of the health care services you may need. However, it does not cover the cost of everything, and you may have to pay some things out of pocket. Thankfully, Medicare Supplement plans can help with this. These plans fill…
Medicare Supplement Vs. Medicare Advantage
Part A (hospital insurance) and Part B (medical insurance) pay for a lot of your healthcare needs, but they are not able to cover everything. Before your insurance kicks in, you'll have to pay a deductible. After that, you'll have to pay other fees, like coinsurance, which is a percentage of certain costs. Also, Original…
How To Maximize Your Medicare Budget
Medicare is an essential program for seniors over 65, however, many of its benefits are underutilized or misunderstood. Consider the annual “wellness” visit. During which a physician will assess your health risks, take your blood pressure and other routine measurements, test for cognitive impairment, and provide personalized health advice. It’s Free! Nonetheless, a surprising number…
Most Common Medicare Mistakes
Medicare is the nation’s health insurance program for seniors 65 and older. It also provides coverage for younger people who meet specific eligibility criteria. Medicare Parts A, B, C, and D cover a large variety of your major medical expenses. It’s a great program but it can be difficult to read through all of the…
Medicare Myths Debunked
Your Initial Enrollment Period (IEP) is an important time if you're considering your Medicare options. It’s natural that everyone has their own opinions regarding Medicare and the best coverage. While advice from family and friends can be helpful, when it comes to Medicare, there are a lot of myths passed around. Maybe you’ve come across…
Everything You Need To Know About Premiums & Deductibles
There are a lot of moving parts involved in health insurance. As well as a lot of terminology to learn in order to understand your plan and its costs. Two of the most important terms to understand are premiums and deductibles. These are the two out-of-pocket expenses associated with your health insurance plan that will end…
Will Medicare Cover Your Home Health Care?
Americans spent more than $129.1 billion on home health services in 2022. With home health care being so expensive it’s important to have all of the facts. For example, if you’re on Medicare and the need arises for home health care, will you be covered? What services will be covered? What won’t be covered? All of…
What You Need To Know About Medicare Lifetime Reserve Days
If you’re a Medicare beneficiary, it’s important to be aware of the potential costs of a hospital stay so you can plan accordingly. While Medicare Part A generally covers your hospital stays, including your room, nursing care, meals, medications etc., it only covers this for 90 days. So, what if you need to be in…
Medicare Part B Premiums to Drop 3% Next Year
The government has finally announced the new standard monthly premiums for Medicare Part B. And after all the speculation about rate hikes, rates will actually be decreasing a little bit next year. Not only that, but the annual deductible for Medicare Part B will also be lower next year. With many Medicare beneficiaries struggling with…
What is Medicare Silverscript?
Even if you are covered by Medicare Parts A and B, you might find that you still need additional coverage for your prescription medications. So, like many Medicare beneficiaries, you might be looking at Medicare Part D for help, specifically Medicare Silverscript, which offers the most affordable prescription drug coverage on the market. With the…
Have Pre-Existing Conditions? Your Guide to Getting a Medicare Supplement Plan
Having a pre-existing condition used to be a serious problem for people looking for health insurance. Fortunately, the passage of the Affordable Care Act in 2010 changed that for people purchasing private insurance. But what about Medicare beneficiaries? Medicare Parts A and B cover anyone who paid into these programs, but what about Medicare Supplement…