Life After 50 Expo

Retired Bumper Stickers !

By

 

The highways of  life are full of flat squirrels who 

couldn’t make up  their minds!

 



—

“Kindness is the language which the deaf can hear and the blind can see.”
                                        Mark Twain

Dear Marci,

By

Dear Marci,

Can I switch from a Medicare Advantage Plan to Original Medicare and a Medigap during Fall Open Enrollment?

-Harold (Bloomington, IL)

Dear Harold,

This is a question that comes up a lot at this time of year. In general, you can make any changes you would like during Fall Open Enrollment. You can switch from Original Medicare to a Medicare Advantage Plan, eneroll in a new Part D plan, change your Medicare Advantage Plan, or switch from a Medicare Advantage Plan to Original Medicare.

However, it is important to keep in mind that depending on where you live, you may be limited in your ability to buy a Medigap policy. This is because, while the federal government sets general guidelines for Medigap enrollment, states can have additional rules. Some states also choose to be more flexible than the federal government in terms of who can buy a Medigap and when.

Under federal rules, there are only certain protected times when an insurance company is required to sell you a Medigap policy. During these times, the insurance company must offer you the best possible rate, regardless of your health status.

  1. During your Open Enrollment Period. The Medigap Open Enrollment Period spans for six months starting with the first month you are enrolled in part B. What this means is that after your Open Enrollment Period ends, you may not be able to buy a Medigap, or you may have to pay more because of health conditions. This is important to point out, as people signing up for Medicare for the first time may have to make a decision that will last their entire lifetime. In some cases, an individual who does not buy a Medigap during their Open Enrollment Period may not be able to buy one in the future.
  2. While you have a guaranteed issue right. If you do not enroll in a Medigap during your Open Enrollment Period, or you later disenroll, certain events can trigger a guaranteed issue right. During this time, you also have protections to buy a Medigap policy, and insurance companies cannot deny you coverage based on your health status. For example, if you are age 65 or older, you have a guaranteed issue right within 63 days of when you lose or end certain kinds of health coverage. This coverage change could occur if you had group health insurance that paid after Medicare, and you lost it through no fault of your own. When you have a guaranteed issue right, companies must sell you a policy at the best available rate, regardless of your health status, and cannot refuse to sell you a policy.

You may run into problems if you try to buy a Medigap policy outside of your protected enrollment periods. Companies can refuse to sell you a policy or may only let you buy one if you meet certain medical requirements. If an insurance company does agree to sell you a policy, you will probably need to pay a higher monthly premium, and you may need to wait six months before the Medigap will cover pre-existing conditions.

Some states, like New York, allow beneficiaries to buy a Medigap at any time without meeting medical standards. Other states, however, do not have the same policies. In Illinois, where you live, there may not be additional protections beyond federal ones. The Open Enrollment Period only lasts for the first six months that you have Part B. Because you are no longer in your Medigap Open Enrollment Period, you may have some trouble if you want to buy a Medigap.

The best thing to do if you have any Medigap questions is to contact your State Health Insurance Assistance Program (SHIP) or your State Department of health. They can provide you with specific information about the regulations in your state.

– Marci

How to Fill the Medicare Cost Gap !

By

There are a number of ways to get coverage to fill gaps in Medicare or to get assistance with Medicare costs:

– Employer Insurance: If you or your spouse is still working, and you have insurance through that job, it will work with Medicare to cover your health care costs. You should know whether your employer insurance is primary or secondary to Medicare. Primary insurance is health insurance that pays first on a claim for medical and hospital care. Secondary insurance pays after primary insurance.

– Retiree Insurance: Some employers provide health insurance to retirees and their spouses to fill in the gaps of Medicare coverage. Retiree insurance always pays secondary to Medicare.

– Supplemental Insurance (Medigap): Insurance that you can buy from a private insurance company to fill in the gaps in Original Medicare coverage by paying for your Medicare deductibles, coinsurances and copayments. Premiums vary, depending on the plan you choose and the company you buy it from.

– Medicare Advantage: You can also get your Medicare benefits through a Medicare Advantage plan (such as an HMO or PPO). These plans contract with the government to provide Medicare benefits. They must provide at least the same set of benefits offered by Original Medicare, but may have different rules, costs and restrictions.

No Cost of Living Increase for Social Security !

By

As expected, the Social Security Administration announced yesterday that there will be no Social Security cost of living adjustment (COLA) for next year–making this open enrollment season especially important. People with Medicare should take the time to evaluate their plan choices and select the plan that best meets their health and financial needs during Fall Open Enrollment, which runs through December 7.

While there will be no COLA, the Part B premium is expected to increase significantly for some people with Medicare, including new enrollees, individuals not collecting Social Security benefits, and beneficiaries already paying higher premiums. State Medicaid programs will also pick up these higher premium costs for people with both Medicare and Medicaid. In addition, the Part B deductible is expected to increase to $223 for all beneficiaries, most significantly affecting those who lack adequate supplemental coverage.

Thoughts on Aging from Will Rogers !

By

Will Rogers, who died before most of us were born, remains one of our finest humorists. Here are some of his musings.

First- Eventually you will reach a point when you stop lying about your age and start bragging about it.

Second- The older we get, the fewer things seem worth standing in line for.

Third- Some people try to turn back their odometers. Not me; I want people to know why I look this way. I’ve traveled a long way, and some of the roads weren’t paved.

Fourth- When you are dissatisfied and want to go back to your youth, think of Algebra.

Fifth- You know you are getting old when everything either dries up or leaks.

Sixth- I don’t know how I got over the hill without getting to the top.

Seventh- One of the many things no one tells you about aging is that it is such a nice change from being young.

Eighth- One must wait until evening to see how splendid the day has been.

Ninth- Being young is beautiful, but being old is comfortable.

Tenth- Long ago when men cursed and beat the ground with sticks it was called witchcraft. Today it’s called golf.

And finally, If you don’t learn to laugh at trouble, you won’t have anything to laugh at when you are old.