Initial Coverage Election Period (ICEP) and delayed Part B enrollment

The Initial Coverage Election Period (ICEP) is a one-time event that defines the opportunity to enroll in the Medicare Advantage plan. It is described quite clearly; as long as you register in both Medicare Part A and Part B at the same time. But what if you plan to delay Part B enrollment? Then the time frame for ICEP is not as simple. Read below. Read more…

Why 2018 Transamerica Medicare Supplement Plans so attractive?

Transamerica Medicare Supplement - Transamerica Medigap

Transamerica Medicare Supplement Plans (Medigap Plans) from Transamerica Life Insurance Company (TLIC) offer a variety of Medigap plans in many US States. TLIC has more than a century of experience and offering a wide array of innovative financial services and products. Like all Medigap vendors, the company helps with your out of pocket costs that are not covered by Original Medicare Parts A and B.

Like all Medicare Supplement vendors, Transamerica Medicare Supplement operates in the world of Standardized Medigap Plans. There are 10 standardized plans denoted by a letter (Medigap Plan A through Medigap Plan N), each with its own set of benefits. Whatever vendor you choose for your Medigap plan, benefits are defined only by the type of plan you’ve selected, and not by the carrier. Read more…

New Medicare Advantage Open Enrollment Period coming in 2019

The New Medicare Advantage Open Enrollment Period (OEP) coming in 2019. It will replace the Medicare Advantage Disenrollment Period (MADP) that started January 1st and continued through February 14th.

New Medicare Advantage Open Enrollment Period

The New Medicare Advantage Open Enrollment Period (OEP) will allow people enrolled in an MA or MAPD plan to make a one-time election to go to another Medicare Advantage plan, or to leave their Medicare Advantage plan, join a stand-alone Medicare Part D plan, and return to Original Medicare Part A and Part B. It will run from January 1st through March 31st. Read more…

Medigap Plans in Philadelphia, Pennsylvania – 2018

Medigap Plans in Philadelphia, Pennsylvania
Medigap Plans in Philadelphia, Pennsylvania, also known as Medicare Supplement Plans, serve the purpose to fill the gaps in both Part A and Part B of Original Medicare. Examples of such gaps are deductibles, copayments / coinsurances, and excess charges. Your Medicare costs could be very high without them. Pennsylvania Medigap plans are sold by private insurance companies. There are 10 Standardized Plans, designated by the letters “A” through “N”. Plan’s letter defines set of benefits, they are identical for all vendors. For example, the benefits of Medicare Supplement Plan F from one vendor are the same as benefits from any other vendors. But the premiums may be differ significantly from vendor to vendor. Therefore, the knowledge of Medicare Supplement vendors and their premiums is important. Read more…

Medicare Supplement Plans in Ohio – 2018

Medicare Supplement Plans in Ohio

Medicare Supplement Plans in Ohio, also known as Medigap Plans, serve the purpose to fill the gaps in both Part A and Part B of Original Medicare. Examples of such gaps are deductibles, copayments / coinsurances, and excess charges. Your Medicare costs could be very high without them. Ohio Medigap plans are sold by private insurance companies. There are 10 Standardized Plans, designated by the letters “A” through “N”. Plan’s letter defines set of benefits, they are identical for all vendors. For example, the benefits of Medicare Supplement Plan F from one vendor are the same as benefits from any other vendors. But the premiums may be differ significantly from vendor to vendor. Therefore, the knowledge of Medigap vendors and their premiums is important. Read more…

Medicare Supplement Plans in Maryland – 2018

Medicare Supplement Plans in Maryland

Medicare Supplement Plans in Maryland, also known as Medigap Plans, fill the gaps in Part A and Part B of Original Medicare, such as deductibles, copayments / coinsurances, and excess charges. Without them your Medicare costs could be very high. Medicare Supplement Plans in Maryland are sold by private insurance companies, and like plans in most other US States, they are standardized. There are 10 Standardized Plans, designated by the letters “A” through “N”. Each of them has its own set of benefits, and these benefits are identical for all vendors. In other words, the benefits of Medicare Supplement Plan F from one vendor are the same as benefits from any other vendors. The difference is just a premium, and it may be significantly different from vendor to vendor. That is why knowledge of Medigap vendors and their premiums in your particular area may be quite important. Read more…

Medigap and Foreign Travel

Medicare Supplement Plans

Original Medicare does not provide coverage for hospital or medical costs outside the United States. Some Medicare Advantage plans may offer coverage benefits for health care needs when you travel outside the United States. But travelers enrolled in the Original Medicare program or whose Medicare Advantage plan does not cover foreign travel — will need to purchase health insurance from another source.

Consider a Medigap policy that may offer additional coverage for health care services or supplies that you get outside the U.S. Read more…

Medicare Part B Premium for Higher-Income Retirees – 2018

Medicare Part B – Medical Insurance

The Medicare Access and CHIP Reauthorization Act of 2015 provides a framework for Medicare Part B Premium for Higher-Income Retirees. Medicare Part B covers physician services, outpatient services, and some home health and preventive services. It is financed in part by beneficiary premiums which traditionally had been set at 25% of estimated program costs.

Since 2007 higher income beneficiaries have had to pay higher premiums. Several income brackets were created with enrollees in higher brackets paying a greater percentage of program costs. Read more…