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MedicareBob

Author: Robert W. Bache

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This is MedicareBob, a Podcast created to empower Seniors with Medicare knowledge.
155 Episodes
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  This Rate Watch Wednesday is focused on the Medicare Supplement High Deductible Plan F for a male and female, ages 65 and 70, in Palm Harbor, Florida (zip code 34683). Medicare Supplement High Deductible Plan F is the best value for a Medicare Supplement Plan in the state of Florida and it offers the greatest value. It allows you to keep your doctor and hospital, so you can go anywhere in the country that accepts Medicare. The only out of pocket with the Medicare Supplement High Deductible Plan F, after the premium, is $2,300. That number may sound intimidating but Medicare still pays 80% of your medical bills so you would only be paying 20% of your medical bills until you reach $2,300 for the year. After that deductible is met, you have full coverage. As I have said before, Medicare Supplement plans are all Federally regulated by the government. There is no reason for anyone to pay more for their Medicare Supplement with one carrier over another because the letter of the plan dictates the coverage, not the carrier. You are not getting any additional benefits by paying more. That’s why it is important to shop your Medicare Supplement coverage every year, and we can help you with that. You may ask, “Why do these companies charge different prices if they are all the same?” That’s a great question. Carriers have different administrative costs and they have different profit goals. There’s tons of different reasons why these big companies charge different prices. What you need to know is, just like in your Medicare book, Medicare Supplement HDF is the same with every carrier. If you have any questions regarding Medicare, its coverage or its plans, please give our office a call at 1-855-368-4717 or visit one of our pages: Website - https://www.seniorhealthcaredirect.com/Facebook - https://www.facebook.com/MedicareBob/Podcast - https://anchor.fm/MedicareBobTwitter - https://twitter.com/MedicareBobYouTube - https://www.youtube.com/channel/UCy_avKva4VN0DBEgjP7I43w?view_as=subscriber
  We are half-way through 2019 and most people have received or will receive their Notice of Increase from their Medicare Supplement carriers. It’s a very common misconception that you can only change your Medicare Supplement once a year starting in October. However, that is untrue. The October to December annual enrollment deadline only applies to Medicare Part D drug plans and Medicare Advantage (Medicare Part C) plans.If you have a Medicare Supplement plan, you can shop your plan all year long. One very important thing to remember about Medicare Supplement plans is that they are federally regulated plans. The letter of the plan dictates the coverage, not the carrier, so there is no reason to pay more with one carrier over another. So, if you received your Notice of Increase in the mail and you’re unhappy with the increase amount, you can contact your broker and have them shop the other carriers in your area for a better rate with the same exact coverage. You wouldn’t have to change your doctors, hospitals etc. because Medicare Supplements do not have networks. Medicare is their network, so if your doctor or hospital accepts your current Medicare Supplement plan, whether it be a Plan F or a Plan G, they will accept a new plan with a new carrier. For example: If you have the Medicare Supplement Plan F and your premium has recently increased by $20, you can call a broker like my company, and they will shop all the available carriers in your area with your plan. Or should you want to switch to a more affordable plan such as the Medicare Supplement Plan G (the average cost of the Plan F is $600-$800 more a year in premiums than the Plan G), my company can help you save on the Medicare Supplement Plan F premiums by switching to the Medicare Supplement Plan G. The coverage is almost exactly the same except the Medicare Supplement Plan G does not cover Medicare’s Part B annual deductible of $185.There is no need to over pay for your Medicare Supplement when all the plans coverage is the same, the only difference is price. If you have any questions regarding Medicare, it’s coverage or plan options, please give our office a call at 1-855-368-4717 or visit one of our pages: Website - https://www.seniorhealthcaredirect.com/Facebook - https://www.facebook.com/MedicareBob/Podcast - https://anchor.fm/MedicareBobTwitter - https://twitter.com/MedicareBYouTube - https://www.youtube.com/channel/UCy_avKva4VN0DBEgjP7I43w?view_as=subscriber 
  Cancer Policies are fairly affordable plans (with premiums around $30 to $60 a month). If you have a Cancer Policy and are diagnosed with Cancer, the insurance carrier will send you a lump sum amount to use towards your treatment. That amount depends on what benefit package you choose. For example: If you have a Cancer Policy that provides a $10,000 benefit with your Medicare Advantage Plan and you are diagnosed with Cancer, you would file a claim with the insurance carrier and the carrier would send you a check for a lump sum of $10,000 to use towards any service or medications.If you have a Medicare Advantage Plan, a Cancer Policy will truly benefit you. The biggest hole in any Medicare Advantage Plan is cancer. If you have a Medicare Advantage Plan you will have to pay 20% up to your maximum out-of-pocket for cancer treatments. This does not include costs such as your medications and many chemotherapy drugs are now being classified under Medicare Part D so there is the risk of falling into the Donut Hole (Coverage Gap) which can result in huge bills.  There are also non-medical costs to think about such as travel costs, should you have to travel to a treatment center, hair pieces for loss of hair due to your treatment and nutritional costs if your doctor recommends that you be on a special diet. These costs can all add up quickly and having that extra bit of money coming to your aid could be a lifesaver.Having a Cancer Policy with a Medicare Supplement is not really a necessity. The Medicare Supplements are some of the best coverage you can get. Having a cancer diagnosis with a Medicare Supplement, you know that your medical bills and cancer treatments will be covered. However, the non-medical costs are still there such as travel, hair pieces or nutritional costs. Also, the cancer medications are very expensive and those are not covered by your Medicare Supplement but by your Part D drug plan. Either way, a Cancer Policy will benefit you especially if you have a Medicare Advantage Plan. The best thing to do is to sit down and go over what coverage you do have and decide whether or not that additional $10,000 or $15,000 would be worth that additional premium. If you have any questions regarding Medicare, what is covers or your options for plans, please give our office a call at 1-855-368-4717 or visit one of our pages: Website - https://www.seniorhealthcaredirect.com/Facebook - https://www.facebook.com/MedicareBob/Podcast - https://anchor.fm/MedicareBobTwitter - https://twitter.com/MedicareBYouTube - https://www.youtube.com/channel/UCy_avKva4VN0DBEgjP7I43w?view_as=subscriber
  This Rate Watch Wednesday is focused on the Medicare Supplement Plan G for a male and female, ages 65 through 70, in Prescott, Arizona (zip code 86313). Medicare Supplement Plan G is the second most comprehensive Medicare Supplement Plan and it offers the greatest value. It allows you to keep your doctor and hospital, so you can go anywhere in the country that accepts Medicare. The only out of pocket with the Medicare Supplement Plan G, after the premium, is Medicare’s very small Part B annual deductible of $185. As I have said before, Medicare Supplement plans are all Federally regulated by the government. There is no reason for anyone to pay more for their Medicare Supplement Plan G with one carrier over another because the letter of the plan dictates the coverage, not the carrier. You are not getting any additional benefits by paying more. That’s why it is important to shop your Medicare Supplement coverage every year, and we can help you with that. You may ask, “Why do these companies charge different prices if they are all the same?” That’s a great question. Carriers have different administrative costs and they have different profit goals. There’s tons of different reasons why these big companies charge different prices. What you need to know is, just like in your Medicare book, Medicare Supplement Plan G is the same with every carrier. If you have any questions regarding Medicare, its coverage or its plans, please give our office a call at 1-855-368-4717 or visit one of our pages: Website - https://www.seniorhealthcaredirect.com/Facebook - https://www.facebook.com/MedicareBob/Podcast - https://anchor.fm/MedicareBobTwitter - https://twitter.com/MedicareBobYouTube - https://www.youtube.com/channel/UCy_avKva4VN0DBEgjP7I43w?view_as=subscriber
  This Rate Watch Wednesday is focused on Medicare Supplement Plan G for a male and female, ages 65 through 70, in Toledo, Ohio (zip code 43604). As I have said before, Medicare Supplement plans are all Federally regulated by the government. There is no reason for anyone to pay more for their Medicare Supplement Plan G with one carrier over another because the letter of the plan dictates the coverage, not the carrier. You are not getting any additional benefits by paying more. That’s why it is important to shop your Medicare Supplement coverage every year, and we can help you with that. You may ask, “Why do these companies charge different prices if they are all the same?” That’s a great question. Carriers have different administrative costs and they have different profit goals. There’s tons of different reasons why these big companies charge different prices. What you need to know is, just like in your Medicare book, Medicare Supplement Plan G is the same with every carrier. If you have any questions regarding Medicare, its’ coverage or its plans, please give our office a call at 1-855-368-4717 or visit one of our pages: Website - https://www.seniorhealthcaredirect.com/Facebook - https://www.facebook.com/MedicareBob/Podcast - https://anchor.fm/MedicareBobTwitter - https://twitter.com/MedicareBobYouTube - https://www.youtube.com/channel/UCy_avKva4VN0DBEgjP7I43w?view_as=subscriber
  Medicare Supplement Plan D, is a true Medicare Supplement that works with Medicare to fill in the gaps to Medicare Parts A and B and pay the bills that Medicare does not pay.  It should not be confused with Medicare PART D, which are prescription plans that are specifically designed to cover your medications. Medicare Supplement Plan D is a very comprehensive plan. If you compare it to Medicare Supplement Plan F, which fills in all the holes to Medicare, there are only two differences to Medicare Supplement Plan D and Medicare Supplement Plan F. The Medicare Supplement Plan D does not cover Medicare’s very small Part B annual deductible of $185.00 for 2019. After you pay that Part B deductible, you’ll have no co-pays or any other out-out-pocket costs for Medicare covered services. Like all Medicare Supplement plans, the Medicare Supplement Plan D does not have any networks. You have the freedom to go to any doctor or any hospital in the country that accepts Original Medicare.The last difference with Medicare Supplement Plan D from Medicare Supplement Plan F is that it does not cover Medicare Part B excess charges. Some doctors accept what is called the “assigned” rate for their work. Others charge a higher rate, but they cannot charge more than 15 percent more than the assigned rate.For example, Medicare might decide that the fair “assigned” rate for a specific procedure should be $400. A doctor who accepts the Medicare assignment would bill at or below that rate.However, your doctor may decide that $400 is not a sufficient reimbursement. Doctors are allowed to charge up to an additional 15% over and above what Medicare has approved. Therefore, in this case, your doctor could charge you $460 and you would be responsible for paying the additional $60 “excess” charge out-of-pocket ($400 X 15% = $60 excess charge) in addition to any deductible and co-pay.These charges are rare and a good way to avoid them is to ask if your doctor accepts Medicare Assignment. Also, it should be noted that Connecticut, Massachusetts, Minnesota, New York, Ohio, Pennsylvania, Rhode Island and Vermont do NOT allow Medicare Part B excess charges so the Medicare Supplement Plan D would be a great option in these states because you would be protected from the Medicare Part B excess charges. If you have any questions regarding Medicare, please give our office a call at 1-855-368-4717 or visit one of our pages: Website - https://www.seniorhealthcaredirect.com/Facebook - https://www.facebook.com/MedicareBob/Podcast - https://anchor.fm/MedicareBobTwitter - https://twitter.com/MedicareBYouTube - https://www.youtube.com/channel/UCy_avKva4VN0DBEgjP7I43w?view_as=subscriber
  Medicare Part C is also known as a Medicare Advantage Plan, and it is not a Medicare Supplement Plan. It is a private alternative to Medicare. If you have a Medicare Advantage Plan, your Medicare Part B premium will go to the carrier that you have your plan with instead of Medicare and this is why there are very low or zero premium plans. As far as coverage, the Medicare Advantage does not work like a Medicare Supplement. It does not cover the 20% that Medicare does not cover. Medicare Advantage Plans replace what Medicare Parts A and B would charge with their own set of co-pays, deductibles and co-insurance.Because Medicare Advantage Plans replace your Medicare, you can no longer go to any doctor or hospital that you choose. Most Medicare Advantage Plans (HMO plans) have a network of doctors and hospitals that you must choose from, however some plans such as PPO plans will allow you to choose any doctor or hospital that you want but you will have to pay more for their services. Here is a breakdown of how the average Medicare Advantage Plan works: · Low monthly premium. Some plans have zero premium. Just remember that there is no such thing as a zero-premium plan. The premium that you would normally pay to your Medicare Part B now goes to the carrier that you have your Medicare Advantage Plan with. · Requires you to pay some bills when you use the Plan. You will have copays, co-insurance and sometimes a deductible. Some plans will not have co-pays and some will, it all depends on the carrier you choose and the area you live in because these plans coverage differs in every state even if it’s with the same carrier. · You have to go to certain Doctors, Hospitals and other Providers. HMO plans have strict networks of doctors and hospitals and PPO plans allow you to see doctors and go to hospitals outside of your network, however you will pay more for the services. · Has a max-out-of-pocket for your protection. Once you have paid a certain amount, the plan will pay the rest of your healthcare cost. For 2019, the average HMO’s max-out-of-pocket is around $6,700.00 and the PPO Plans are around $10,000.00 depending on whether you use doctors and hospitals inside or outside of your network. · Sometimes included added benefits like dental, vision, hearing and even a gym membership. However, keep in mind that these plans do not have to keep these benefits because Medicare does not cover these services so these plans are not required to cover them. · Some of these plans will include Medicare Part D coverage in the plan and some will not.  What is nice about a Medicare Advantage Plan is that they protect you from the 20% that Medicare doesn’t pay with an annual maximum of out pocket. Again, the national average maximum of pocket for an HMO plan is going to be around $6,700 and around $10,000 for a PPO plan.If you have any questions regarding Medicare, it’s coverage or its plans, please give our office a call at 1-855-368-4717 or visit one of our pages: Website - https://www.seniorhealthcaredirect.com/Facebook - https://www.facebook.com/MedicareBob/Podcast - https://anchor.fm/MedicareBobTwitter - https://twitter.com/MedicareBYouTube - https://www.youtube.com/channel/UCy_avKva4VN0DBEgjP7I43w?view_as=subscriber
  This Rate Watch Wednesday is focused on Medicare Supplement Plan G for a male and female, ages 65 through 70, in Cincinnati, Ohio (zip code 45207). As I have said before, Medicare Supplement plans are all Federally regulated by the government. There is no reason for anyone to pay more for their Medicare Supplement Plan G with one carrier over another because the letter of the plan dictates the coverage, not the carrier. You are not getting any additional benefits by paying more. That’s why it is important to shop your Medicare Supplement coverage every year, and we can help you with that. You may ask, “Why do these companies charge different prices if they are all the same?” That’s a great question. Carriers have different administrative costs and they have different profit goals. There’s tons of different reasons why these big companies charge different prices. What you need to know is, just like in your Medicare book, Medicare Supplement Plan G is the same with every carrier. If you have any questions regarding Medicare, its’ coverage or its plans, please give our office a call at 1-855-368-4717 or visit one of our pages: Website - https://www.seniorhealthcaredirect.com/Facebook - https://www.facebook.com/MedicareBob/Podcast - https://anchor.fm/MedicareBobTwitter - https://twitter.com/MedicareBobYouTube - https://www.youtube.com/channel/UCy_avKva4VN0DBEgjP7I43w?view_as=subscriber
  If you have a Medicare Advantage Plan and are unable to purchase a Medicare Supplement because of health issues or maybe it’s not the time of year you are able to switch, there are a couple, separate plans that you can purchase that will help offset the costs you have with a Medicare Advantage Plan and your exposure with a Medicare Advantage Plan. The two most popular are the Hospital Indemnity Plan and a Cancer Policy. The two biggest holes in a Medicare Advantage Plan are hospitalization and Cancer treatments.Most Medicare Advantage Plans are going to charge you anywhere from $250 to $400 a day you’re in the hospital for each day, days 1 though 7. A Hospital Indemnity Plan will protect you from this charge. How it works is if you are hospitalized, you would pay the co-pay to the hospital that your Medicare Advantage Plan requires you to pay. After that, you would submit a claim to the insurance carrier and the Hospital Indemnity Plan would then pay you per day that you were in the hospital. For example: If the co-pay for hospitalization is $250 per day; you’re in the hospital and you had a Hospital Indemnity Plan, it would pay you that $250 or $300 a day depending on the plan that you choose. Two reasons that Cancer is one of the biggest holes in a Medicare Advantage Plan is first, that most Medicare Advantage Plans are going to require you to pay the 20% for chemotherapy or any other treatments you may need. The second is the Medicare Part D drug costs within the Medicare Advantage Plan. Cancer Policies are fairly affordable plans (premiums around $30 a month). They are very similar to the Hospital Indemnity Plan in that if you have a Cancer Policy and are diagnosed with Cancer, the insurance carrier will send you a lump sum amount to use towards your treatment. For example: If you have a Cancer Policy that provides a $10,000 benefit with your Medicare Advantage Plan and you are diagnosed with Cancer, you would file a claim with the insurance carrier and the carrier would send you a check for a lump sum of $10,000 to use towards any service or medications. If you have any questions regarding Medicare, its coverage or plans to work with your Medicare, please give our office a call at 1-855-368-4717 or visit one of our pages: Website - https://www.seniorhealthcaredirect.com/Facebook - https://www.facebook.com/MedicareBob/Podcast - https://anchor.fm/MedicareBobTwitter - https://twitter.com/MedicareBYouTube - https://www.youtube.com/channel/UCy_avKva4VN0DBEgjP7I43w?view_as=subscriber
  This Rate Watch Wednesday is focused on Medicare Supplement Plan G for a male and female, ages 65 through 70, in Cleveland, Ohio (zip code 44105). As I have said before, Medicare Supplement plans are all Federally regulated by the government. There is no reason for anyone to pay more for their Medicare Supplement Plan G with one carrier over another because the letter of the plan dictates the coverage, not the carrier. You are not getting any additional benefits by paying more. That’s why it is important to shop your Medicare Supplement coverage every year, and we can help you with that. You may ask, “Why do these companies charge different prices if they are all the same?” That’s a great question. Carriers have different administrative costs and they have different profit goals. There’s tons of different reasons why these big companies charge different prices. What you need to know is, just like in your Medicare book, Medicare Supplement Plan G is the same with every carrier. If you have any questions regarding Medicare, please give our office a call at 1-855-368-4717 or visit one of our pages: Website - https://www.seniorhealthcaredirect.com/Facebook - https://www.facebook.com/MedicareBob/Podcast - https://anchor.fm/MedicareBobTwitter - https://twitter.com/MedicareBobYouTube - https://www.youtube.com/channel/UCy_avKva4VN0DBEgjP7I43w?view_as=subscriber
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Comments (1)

Charlie Barnett

good listen. gets to the point.

Jun 3rd
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