Tag Archives: Medicare Open Enrollment

Advantages of an Independent Medicare Insurance Agent

Again, I have completed all of my re-certifications for the upcoming AEP to continue being eligible to offer all of the Medicare Insurance plan types in Virginia.  This includes Medicare Supplement plans (Medigap), Part C Medicare Advantage Plans and Part D drug plans.  I have the re-certifications for all of the available Medicare Advantage plans and most Part D drug plans for the Central Virginia area as well as 7 of the most well-known Medicare Supplement plans.

It occurred to me what an advantage this is for clients and prospective clients who contact me with questions about enrolling in Medicare.  As an independent agent, I don’t work for any of the insurance companies, but am licensed, appointed and certified to represent the major Medicare insurers.  This means I can help people navigate through the many options available to them.  I become a one-stop resource instead of them having to contact multiple insurance companies one by one.  Without any bias towards any particular insurance company or type of plan, I help people find the best fit for them based upon their particular circumstances.  And, I don’t cost my clients anything.  You can imagine what they would get if they contacted an insurance company direct.

If you have questions about Medicare, contact David Higgs at David@ChoicesInMedicare.com or go to website: www.ChoicesInMedicare.com.

Medicare and HSA’s Don’t Mix

I recently have had several clients who had questions about their options regarding Medicare and how it affects their HSA.  An HSA (Health Savings Account) is a tax advantaged account designed to pay for qualified medical expenses.  Medicare rules state that contributions cannot be made to an HSA if someone has Medicare, either Part A or Part B.  Medicare rules also state that Medicare is considered primary coverage for employees who are on an employer health plan that work for a company with less than 20 employees.  These rules can all intersect for some people.

So, a couple of scenarios arise for people who have an HSA:

1. If they work for a company with less than 20 employees and are on the employer health plan, they should enroll in Part B to have primary coverage.  But, if they are on a qualified High Deductible health plan with an HSA, they can’t have Part A or Part B in effect.  So, these people will generally be best served by leaving the employer HSA plan and go to Medicare.

2. If they work for a company with 20 or more employees, they do not need to enroll in Part B because their commercial insurance carrier for their employer health plan is considered primary coverage.  Someone becoming eligible for Medicare, can delay Part A and B to remain on the employer HSA plan.  They will need to make sure that Medicare does not automatically enroll them in Part A.

If you have an HSA and accompanying qualified High Deductible health plan, think about your options as you approach Medicare eligibility.  If you have questions, you can contact David Higgs at David@ChoicesInMedicare.com or visit www.ChoicesInMedicare.com

Part D Drug Plan Penalty

In helping seniors select a Part D Drug plan (PDP), I find a lot of people are confused about the Part D Penalty.  In short, it is a penalty for those that don’t elect a PDP when they are eligible and don’t have other Creditable Drug coverage.  While Medicare will not require anyone to enroll in a PDP, they will assess a penalty of 1% for every month they didn’t have coverage.

For more info on what the penalty is and how it works, you can go to the link below that explains in more detail at Medicare.gov.

http://www.medicare.gov/part-d/costs/penalty/part-d-late-enrollment-penalty.html

For questions about selecting a Medicare Plan, call David Higgs at 804-972-4997 or email: David@ChoicesInMedicare.com.

 

ONLY TWO MORE WEEKS TO MAKE MEDICARE PLAN CHANGES!

ONLY TWO MORE WEEKS REMAIN FOR MAKING CHANGES TO YOUR MEDICARE PLAN.  WE ARE NOW IN THE OFFICIAL MEDICARE OPEN ENROLLMENT SEASON CALLED AEP WHICH RUNS FROM OCT 15TH TO DEC 7TH.  THIS IS THE TIME WHEN MEDICARE BENEFICIARIES CAN ENROLL, DROP OR CHANGE THEIR MEDICARE ADVANTAGE OR PART D PRESCRIPTION PLAN.  AS IT CAN BE OVERWHELMING TO COMPARE AND ANALYZE THE DIFFERENT OPTIONS, WE HELP AND AT NO COST TO THE CLIENT.  GO TO WWW.CHOICESINMEDICARE.COM.

Only 3 More Weeks to Make Changes in Medicare Coverages

ONLY THREE MORE WEEKS REMAIN FOR MAKING CHANGES TO YOUR MEDICARE PLAN.  WE ARE NOW IN THE OFFICIAL MEDICARE OPEN ENROLLMENT SEASON CALLED AEP WHICH RUNS FROM OCT 15TH TO DEC 7TH.  THIS IS THE TIME WHEN MEDICARE BENEFICIARIES CAN ENROLL, DROP OR CHANGE THEIR MEDICARE ADVANTAGE OR PART D PRESCRIPTION PLAN.  AS IT CAN BE OVERWHELMING TO COMPARE AND ANALYZE THE DIFFERENT OPTIONS, WE HELP AND AT NO COST TO THE CLIENT.  GO TO WWW.CHOICESINMEDICARE.COM.