When you can change your Medicare Supplement

When you can change your Medicare Supplement


Most Medicare recipients are familiar with Annual Enrollment each year, which begins October 15 and ends December 7.  This is the time of the year where you can make changes to a Medicare Advantage or Part D (Prescription Drug Plan) for the following calendar year. 


What many people don't know is that Medicare Supplements can be changed all year long.  Changes are not restricted to Annual Enrollment. 


If you have a Medicare Supplement and would like to change it, you must answer all underwriting questions in order to be approved.  If you have health issues, the trick is to find an insurance company that is more lenient on underwriting.


If you have questions about this process and would like to explore changing your Medicare Supplement, call the expert at 614-889-0934.  We are your advocate and will help you review your options.

How to pick a Medicare Supplement

How to pick a Medicare Supplement

 

Many people are confused about how to pick a Medicare Supplement.  So here are a couple of hints about your choices.

 

1. Medicare Supplements are not network based plans, meaning you can go to any doctor or hospital that accepts Medicare.  This is an advantage for anyone who travels and is in contrast to Medicare Advantage Plans. 
2. All Medicare Supplements are standardized plans.  That means that any plan you choose is going to be the same regardless of the company you choose. The only thing that varies is the cost with each insurance company and the list of the plans they offer. Not all companies offer all of the available plan designs.
3. Some Medicare Supplements offer a gym membership with them.  This does raise the cost of the plans that offer it. 
4. Medicare plans have premium increases over time. So, it important to choose an insurance company that has stable rates over time.  Only an agent who works with Medicare consistently knows this type of company history and can help you with your choice.

If you want a Medicare Expert to help you select a Medicare Supplement plan, call Lucy Grosz at 614-889-0934 or visit  http://www.altavistaben.com.

Parts of Medicare

The Parts of Medicare

 

There are four parts of Medicare:

1. Part A which pays for hospital care.
2. Part B which pays for medical care, like doctor visits.
3. Part C which is also called the Medicare Advantage program. 
4. Part D which covers prescription medications. 

Part A and Part B of Medicare are administered by the Federal government.  Together they are called "Original Medicare".


You can buy Part C/Medicare Advantage coverage from private companies. Medicare Advantage plans combine Part A and Part B and may offer prescription drug coverage.  The plans can also include additional benefits like eye care, hearing, wellness services and a nurse hotline.


Medicare Advantage plans are area specific, meaning you must live in the plan's service area.  To apply for these plans, you must be enrolled in Part A and Part B.


Part D helps pay for prescription drugs.  It is only offered through private insurance companies.  Part D plans can be standalone or be part of a Medicare Advantage plan. To apply for a standalone plan, you must be enrolled in Part A and/or Part B.


If you are confused about the coverage options with Medicare and when you can make changes, give us a call at 614-889-0934.