medicare open enrollment Archives - Page 3 of 3

Preparing For Medicare Open Enrollment: Important Documents

September is here, and with it will come important documents for Medicare’s fall Open Enrollment. Medicare Open Enrollment, which is also referred to as the Annual Election Period (AEP), occurs every year from October 15th to December 7th. During this period, you have the option to change your Medicare plan for 2021. In order to be better prepared, it is important to review the information that you will be receiving this month. Check your mailbox for the following important documents:

Medicare And You Handbook

the word medicare with words pertaining to medicare insurance around it — *You will receive a “Medicare and You” handbook that will explain the benefits, your rights, and available plans.*

If you are already enrolled in Medicare, you will receive a free 2021 Medicare And You handbook in the mail this month. The handbook will provide you with:

A summary of Medicare benefits
Your Medicare rights
Answers to frequently asked questions
Lists of available health and drug plans in your area. All plans have to cover the same benefits listed in the handbook, but costs and coverage rules will vary based on your area.

If you did not receive your handbook, you can call 1-800-MEDICARE and request a copy with information for your region to be mailed to you. You can also view the handbook online at medicare.gov.

Annual Notice Of Change

If you have a Part D prescription drug plan or a Medicare Advantage plan, then you should receive a notice called the Annual Notice of Change (ANOC) this month. The ANOC will list any changes that will be made to your plan in 2021 regarding your:

Rates What you can expect to pay for your copays, annual deductibles, and drug costs for 2021.
Covered Drugs- You will be able to look through the plan’s formulary and see what drugs are being added or removed from Part D formularies.
Provider Network– Check to see which doctors, hospitals, and other providers and pharmacies will be in your plan’s network next year. Be sure to pay attention to this as networks do change from time to time, and you might find that some providers have been added or removed.

The EOC along with he ANOC are 2 very important documents that will notify you of any changes in your plans and if your plan is leaving Medicare.

Evidence Of Coverage

The Evidence of Coverage (EOC) document that you will receive will give you an in-depth explanation of the benefits and out-of-pocket costs for your plan. Your EOC should come in the mail with your ANOC, or you can look at the document on your plan’s website. Your EOC will notify you of:

Plans that are leaving the Medicare program, so you can start searching for another plan for the new year.
The quality of performance of your current plan, if your current plan has received a low rating for 3 or more years in a row. This is so you can begin to look at other, better-rated plan options in your area.

Notice of Creditable Coverage

If you get your health insurance and drug coverage through an employer, then you will receive a notice of creditable coverage. This will inform you if your coverage is still credible, and if it is as good as or better than Medicare coverage. You will need this document as proof that you had credible employer-based health insurance, so that you do not get hit with a late enrollment penalty when you decide to switch to a Medicare Advantage or a Part D plan.

the word important in written on a purple paper with a red thumbnail on it Review these notices so that you are aware of any changes being made to your Medicare plan. If you find that there are changes that you are unhappy with, then you can start searching for a new plan before Open Enrollment begins.

Once you receive these important documents in the mail and begin reviewing your coverage, you might find that your current plan will no longer fit your needs. If it is time to change your coverage, then it is time to call EZ.Insure. Our agents are highly trained in Medicare and help you compare all of the options available for your financial and medical needs. We want to make sure that you have the best coverage and care, especially during these times. To get free, instant quotes, enter your zip code in the bar above. Or to speak directly to one of our licensed agents, call 888-753-7207.

Preparing For Medicare Open Enrollment: Getting Great Coverage For 2021

Medicare Open Enrollment Period (October 15 – December 7) is right around the corner, so it’s time to start reviewing your current plan. Is it working for you? If you’re not totally satisfied with your coverage, then you might want to look for a better plan that has everything you need and saves you money. One of the best ways you can get the best coverage for next year is to add a Medicare Supplement Plan to your Original Medicare plan.

calculator with the word cost on it with a hospital bed in the background and money below the calculator — *Healthcare costs are on the rise, and with Medicare only covering 80% of costs, the rest that you pay out-of-pocket can add up quickly.*

Why A Medicare Supplement Plan?

Medicare Part B only pays for 80% of your medical costs, leaving you to pay 20% of all of your bills out-of-pocket. 20% might not sound like a lot, but if you are living on a fixed income, living with a chronic medical condition, or need to see the doctor regularly, then those bills can really add up. A Medicare Supplement Plan will cover your 20% share, which can save you hundreds of dollars a year! All you have to do is pay a low monthly premium, and let your plan to take care of the rest.

Healthcare and out-of-pocket costs are on the rise, so it’s better to be fully insured in case of an emergency or accident. Having a Medicare Supplement Plan means you won’t have to worry about setting money aside to pay any unexpected bills that you may accumulate.

There are 10 different types of Medicare Supplement Plans to choose from, with each plan offering different coverage and different prices, so you’re sure to find one that fits your financial and medical needs. Medicare Supplement Plans cover:

hundred dollar bills in a glass jar — *A Medicare Supplement Plan will cover the costs Original Medicare does not cover, which will save you hundreds of dollars.*

Medicare Part A and Part B deductibles
Skilled nursing facility costs after you run out of Medicare-covered days
Medicare Part A coinsurance and hospital costs (up to an additional 365 days after Medicare benefits are used)
Medicare Part B coinsurance or copayment
Part B excess charges
Part A hospice care coinsurance or copayment
Blood transfusions for up to three pints of blood

Some will cover:

Foreign travel emergencies (up to plan limits)

Another advantage to these plans is that there is no network, so you can go to any doctor or hospital that accepts Medicare assignment.

How To Add A Medicare Supplement Plan

silhouette of a person standing in front of 3 arrows pointing in 3 different directions — *You have different options during Medicare Open Enrollment Period to add a Medicare Supplement Plan.*

With Medicare Open Enrollment approaching, you’re probably getting a lot of information in the mail about your plan. If all of this has you rethinking your coverage, then now is the time to add a Medicare Supplement Plan. These are your options during this period:

If you currently have Original Medicare, you can choose to stay on your Original Medicare plan and add a Medicare Supplement Plan to fill the gaps. You may not be eligible for guaranteed issue, but the sooner you apply for a plan, the better.
If you are on a Medicare Advantage Plan, but are considering switching over to Original Medicare, then Open Enrollment is the best time – you’ll be able to add a Medicare Supplement Plan with guaranteed issue, meaning you won’t have to face the underwriting process.
If you’re enrolled in Original Medicare and your employer-based coverage is ending, you can choose to add a Medicare Supplement Plan for extra coverage.

The Medicare Open Enrollment Period is the time to look at all your options so you can save money in the coming year. You can choose to stay with Original Medicare, or consider switching from a Medicare Advantage Plan to Original Medicare while adding a Medicare Supplement Plan. A Medicare Supplement Plan will provide you with more coverage, while putting more money back into your wallet. This will ensure that you have great coverage next year, plus you’ll have peace of mind knowing that all you have to pay (aside from your Medicare Part B deductible) is one low monthly premium, and all of your medical costs will be covered.

If you want the best Medicare Supplement Plan from one of the top-rated Medicare Supplement companies, EZ can help. Our agents work with all of the top-rated Medicare Supplement companies, and we’ll compare all available plans in your area within minutes. We’ll find you the best plan with the most savings. To get free Medicare Supplement Plan quotes, enter your zip code in the bar above, or if you prefer to speak to an agent directly, call 888-753-7207. Our agents are ready to help you get the best coverage for next year!

Don’t Let These Medicare Mistakes Ruin Your Retirement!

Retirement. A simple word that has so much meaning to it. You have been working your whole life looking forward to the day you no longer have to work. Now that the time has finally come, you can begin enjoying the next phase of your life by traveling, relaxing, and checking things off your bucket list. However, there is one thing that you have to get done the right way before you can fully enjoy your retirement. Whether you’ve already enrolled in Medicare, or you’re planning on enrolling soon, you need to avoid these simple Medicare mistakes.

Not Signing Up On Time

piles of coins going up in range with a clock in the background — *You will need to sign up for Medicare Part B during your initial enrollment period or face a penalty.*

The first thing you need to think about when it comes to Medicare is enrolling at the right time. You will need to sign up for Medicare Part B during your initial enrollment period, which is the 3 months before you turn 65, the month you turn 65, and the 3 months after you turn 65. If you opt out of Part B without a valid reason, such as still being on an employer’s insurance, and don’t sign up during your initial enrollment period, then you will end up paying a penalty fee. This means that, when you eventually do sign up for Medicare Part B, you will have to pay an extra 10% in monthly premiums for every 12 month period that you did not enroll.

For example, if you opt out of signing up for Part B benefits for 2 years, then you will face a 20% penalty fee added on to your monthly Part B premiums. If you opt out for 4 years, then you will pay an extra 40%, and so on. In most cases, you will have to pay this penalty for as long as you have Medicare.

Getting Taxed

If you’ve enrolled in Medicare, but still have money left in a health savings account (HSA), then beware of tax penalties. You can continue to use the money that is already in your HSA after enrolling, but if you contribute to your HSA while on Medicare, you will be subject to an income tax penalty on the amount you contribute. In order to avoid this penalty, you need to stop making contributions to your HSA 6 months before enrolling in Medicare.

Not Considering A Medicare Supplement Plan

Another mistake to avoid is assuming that everything is covered by Medicare, and that you don’t need a Medicare Supplement Plan. For example, Medicare Part B doesn’t usually provide much coverage if you travel overseas. So, if you are planning on taking advantage of your retirement and doing some traveling outside of the U.S., then it would be smart to consider getting a Medicare Supplement Plan.

A Medicare Supplement Plan will not only help pay for your Part B bills, but standard Medicare Supplement Plans C, D, F, G, M, and N also provide foreign coverage. These plans will cover emergency care during the first 60 days of your trip, and will pay about 80% of your bills. They will cover up to $50,000 in foreign medical bills after you meet your $250 deductible. This $50,000 coverage is available to you every time that you travel outside of the U.S. and its territories.

calendar with the date October 15 on it — Take the time during Medicare Annual Enrollment, which is every year from October 15 to December 7, to go over your coverage.

Missing Your Annual Period To Change Plans

Your plan’s coverage, costs, and benefits change from year to year. If you are enrolled in a plan, you may be tempted to stick with it and avoid the hassle of switching. However, this can cost you in the long run. Take the time during Medicare Annual Enrollment, which is every year from October 15 to December 7, to go over your coverage and make sure it fits your needs and budget. During open enrollment you can:

Switch to Original Medicare Parts A and B with or without a Part D plan from a Medicare Advantage Plan, or vice versa.
Switch from one Medicare Advantage plan to another.
Switch from one Medicare Part D plan to another.
Enroll in a Medicare Part D plan if you did not do so when you were first eligible, although a late enrollment penalty may apply.

The open enrollment period is a good time to look at all the plans in your area, find out what their premiums are, and calculate the share of costs. Make sure your pharmacy, hospital, and providers are within the new network if you do plan on switching. Review different Medicare Supplement Plans and see if there is a better fit for you.

Losing Your Medicare Supplement Plan

If you do decide to make a change when open enrollment comes around, make sure you know what you are getting – and what you risk losing. If you decide to switch to a Medicare Advantage plan, you cannot also have a Medicare Supplement Plan.

If you bought a Medicare Supplement Plan when you enrolled in Medicare, and then you decide to switch to a Medicare Advantage Plan, you will have to drop your Medicare Supplement Plan. Doing so means that you are at risk of facing underwriting, and if you have any pre-existing conditions then you can be denied coverage or charged more for your plan. The only time to avoid underwriting is when you first become eligible to sign up for Medicare, so be sure that you know what you are doing before you give up your Medicare Supplement Plan.

With there being so many Medicare Supplement Plans, comparing all of them can be time-consuming. EZ will provide you an agent to compare all the different Medicare Supplement Plans within minutes. They will go over all the plans with you, and advise you on which is the best plan for your health and financial needs. All of this will be done at no cost to you, that’s right, it’s free! Enjoy your retirement fully by saving more money. To get you free quotes, enter your zip code in the bar above, or to speak to an agent, call 888-753-7207. No obligation and no hassle!

Medicare AEP Is Over, What If You Missed It?

Every year from October 15 to December 7 is Medicare’s Annual Enrollment. This is the time you can switch from Medicare to Medicare Advantage, and vice versa. You can also change your Medicare Advantage or Part D plans.

*Just because Medicare OEP is over, does not mean you do not have other options to help you save money.*

Time flies and things happen, and before you know it, open enrollment has ended. You may have not gotten the chance to look over plans, change plans to meet your needs, or did not have enough time to research your options. But luckily if you missed open enrollment, there are still some options for you to choose from.

Medicare Advantage OEP

Beginning 2019, the Medicare Advantage Open Enrollment Period runs from January 1 to March 31 every year. During this period, you can switch Medicare Advantage plans, or disenroll from their Medicare Advantage Plan to Original Medicare. If you choose to switch back to Original Medicare, then you can enroll in a Part D prescription drug plan. Do some research to make sure whichever way to choose to go that the network covers your doctors.

Medicare Special Enrollment Period, SEP

If you missed the open enrollment period, you can qualify for Medicare Special Enrollment Period. Here are the circumstances to qualify for SEP:

- Moved out of plan’s service area

- Lost employer-based health insurance

- Used to be eligible for Medicaid and now you are not

- Your plan is ending its contract with Medicare

Moving back to US after living outside of the US

5 Star Plans

In 2010, the Health care Reform Law created a star rating system for Medicare Plans. One star being poor, and 5 stars being the best. Every fall the ratings are updated for these plans. Beneficiaries can enroll in a Medicare Advantage 5-star plan once a year from December 8 to November 30th.

Medicare Supplement Plans

Medicare Supplement Plans can help you pay for Medicare Part B bills that may be hard for you to pay. These plans are sold by private insurance companies, and you can always consider buying one as long as you are 65 years old. There are 10 different supplement plans to choose from, some covering more than others. If you consider buying one outside of the Medicare Supplement Open Enrollment Period (the 6 month period beginning the month you turn 65), then you may be subject to paying more for pre-existing conditions.

Another option you can take is to ask your doctor for the generic, cheaper brand of the precritions you take.

Change Your Drugs

If you missed the chance to find a better plan to cover your prescriptions, then you can always talk to your doctor about cheaper drug options. The Medicare Modernization Act requires that Medicare offer at least two drugs in each category class. What this means is that you can talk with your doctor and ask to take the alternative drug that costs lower.

Missing the Medicare open enrollment period can cause a lot of stress. EZ.Insure offers agents within your region to help you and answer any questions you may have. Our agents are highly trained to provide you the best option for your needs. The agents will provide you with Medicare Supplement quotes from top carriers in your area, and even help you sign up at no cost. To get quotes, enter your zip code in the bar above, or to speak to an agent directly, email replies@ez.insure, or call 888-753-7207. Do not worry if you missed the OEP, we can help you get on the right track.

The Annual Open Enrollment Period Is Almost Over!

The end of the Medicare Annual Enrollment Period is right around the corner. From October 15 through December 7, Medicare beneficiaries have the ability to decide if they like what they have, or if they would like to switch. If you have what you want then great, but if you are not satisfied with it, or looking to save more, it is best to do your research and make a decision soon. After December 7, you will not be able to make any changes, or add a Medicare Supplement or Advantage plan.

*During Medicare Annual Open Enrollment, you have different routes to choose that best fits your needs.*

Review Your Coverage

You will be provided with a handbook for next year’s coverage for Medicare. Take a look at the coverage, prices, and benefits. If you are not happy, or think you may need more benefits, then looking into a Medicare Supplement of Advantage plan is important. You can compare the different plans and see which one will help you the most. But you can only add these plans during the annual enrollment period.

The same goes for your Medicare Advantage or Supplement plans, you will receive an Annual Notice of Change for your plan.

Changes You Can Make

Once you make any change to your current insurance, it will take effect on January 1st. So what can you do during this period? You can:

Join a new Medicare Advantage Plan or Part D Plan
Switch between Original Medicare and Medicare Advantage.
Buy a Medicare Supplement Plan depending on where you live.

Research Your Options

Researching the different plans, and comparing the coverage and prices is a lot of work. You do not want to miss out on a great deal by overlooking or not doing enough research. Overlooking plans will cost you, but we will avoid that from happening. EZ.Insure compares plans of over 20 insurance carriers in your region. We compare all the plans and prices for you within seconds, and provide you with the information so you can choose the best option.

To receive instant quotes, you can enter your zip code in the bar above, or you can contact one of our highly trained agents. You will be given your own personal agent to work with, and not have to worry about jumping around agents. Your advisor will gather information and provide you with all of the plans available to you within your area. No obligation or fee. It is all done at no cost to you. Call 855-220-1144, or email us at replies@ez.insure to get started. Let us take care of you, the research, and the sign up process, for free!

Medicare Coverage VS Medicare Supplement Coverage

Medicare is the federal health insurance program for people who are 65 or older. When you enroll in Medicare, it is important to understand how it works and whether or not you will need a Medicare Supplement plan to go with it. Once you pay your deductible, Medicare covers only 80% of your Part B expenses, leaving you to pay the rest. Medicare Supplement is an insurance plan that is sold by private companies. Medicare Supplement plans help pay for the 20% of the Medicare Part B costs which is left for you to pay.

Original Medicare, and Medicare Supplement plans cover different healthcare. It is important to go over each program, and what they offer in order to determine if a Medicare Supplement plan will benefit you.

How Medicare Works:

Every year, you must pay a set amount, a deductible, for your health care before Medicare pays its share. You can sign up for Part A and/or Part B insurance, but most people have both. You pay a monthly premium for Part B. Medicare only covers 80 percent of Part B services, leaving you with the other 20 percent to be paid out of pocket. Depending on your medical needs in a given year, that 20 percent gap can become a large financial burden.

For 2017, the Medicare Part A deductible is $1,316 a year, while Medicare Part B’s yearly deductible is $183. Once you have paid your deductible in health bills such as physician visits, outpatient hospital services, and covered medical equipment, then Medicare will pay cover the rest up to 80% for Part B, and 100% for Part A.

Medicare covers wellness visits every month. — *Medicare will cover annual wellness visits once a month.*

What Medicare covers

Medicare benefits are divided into two parts, Part A and Part B.

Medicare Part A (Hospital Insurance) — covers inpatient hospital care, skilled nursing facility care, short-term nursing home care, hospice care, and some home health care. (100% of your costs for up to 60 days in a hospital or up to 20 days in a skilled nursing facility.)
Medicare Part B (Medical Insurance) — covers annual wellness visits every month, ambulance services, orthotics and prosthetics, medical equipment, and mental health care. (80% of costs covered by Medicare.)

What Medicare does not cover

Annual physical exams except other than one annual wellness visit
Health care you get while traveling outside of the United States (Very limited exceptions)
Hearing aids, and most hearing exams
Long-term nursing home care for more than 100 days
Acupuncture, naturopathy, etc.
Most eyeglasses
Most dental care

Prescription drugs are not covered under Parts A and B, but it will cover some drugs in certain cases like immunosuppressive drugs for transplant patients, and oral anti-cancer drugs. For prescription drug coverage, you should consider signing up for stand-alone Medicare Part D plan.

How Medicare Supplement Works:

There is a monthly premium for your Medicare supplement plan, and in return, the plan pays most of your expenses not covered by Medicare parts A & B. For example, if you have a $4,000 ambulance bill and have already met the yearly Medicare Part B deductible, Medicare Part B will pay 80% of the bill. This leaves you to pay the 20% that us left, $800, out of pocket. But if you have a Medicare Supplement plan that covers Part B copayments and coinsurance costs, then it will pay the $800 remaining.

The Medicare Supplement Open Enrollment period is the six-month period that starts on first day of the month that you are 65 and enrolled in Medicare Part B. During the open enrollment period, you can enroll in any Medicare Supplement plan offered in your service area with guaranteed issue. This means that insurance companies are not allowed to deny you or charge you more due to pre-existing conditions. There are many different types of Medicare Supplement plans to choose from, and they vary in levels of coverage and cost.

What Medicare Supplement covers

Medicare Supplement covers nurse care and Part B excess charges. — *Medicare Supplement will cover nursing facility costs after you run out of Medicare-covered days.*

In general, all Medicare Supplement plans cover at least part of:

Medicare Part A and Part B deductibles
Skilled nursing facility costs after you run out of Medicare-covered days
Medicare Part A coinsurance and hospital costs (up to an additional 365 days after Medicare benefits are used)
Medicare Part B coinsurance or copayment
Part B excess charges
Part A hospice care coinsurance or copayment
Blood (first 3 pints)

Some will cover:

Foreign travel emergency (up to plan limits)
Part B deductible

Two Medicare Supplement plans (Plan K and L) include an out-of-pocket limit. Once you have reached a certain amount spent on Medicare-covered services, the Medicare Supplement plan will cover 100% of the costs for the rest of the year.

What Medicare Supplement does not cover

Medicare Supplement policies generally do not cover:

Long-term care (care in a nursing home)
Routine vision or dental care
Hearing aids
Eyeglasses
Private-duty nursing.
Prescription drugs

Looking for more details or help?

There are roughly 10 different types of medicare supplement plans on the market, and they all vary in coverage and cost. Figuring out which plans are best for you can be hard, but we are here to help. If you would like to gather more information on Medicare and Medicare Supplement plans, one or our highly trained agents are ready to help.

You can start by simply entering your zip code in the bar above to get a quote, or you can contact us by email at Replies@Ez.Insure or call 855-220-1144. There is no hassle and no obligation. We will help you answer any questions, go over all of your plan options, find the Medicare Supplement plan most suited for your needs and budget, and even help you sign up if you’re ready. No hassle necessary! We work on your time and do not hound you with calls like the other guys.