Liberty Medicare Blog - All you need to know about Medicare Plans

Benefits of Using Independent Medicare Supplement Insurance Agents

Benefits of Using an Independent Medicare Supplement Insurance Agency

UPDATED on Dec. 16, 2018. What are the advantages of using Independent Medicare Supplement Insurance Agents?

The prime purpose of Medicare Supplement (Medigap) is to fill the gaps in Parts A and B of Original Medicare, i.e., protect against Original Medicare out-of-pocket expenses such as deductibles, copayments/ coinsurances, and excess charges. Medicare Supplement Plans (Medigap Plans) are plans sold by private insurance companies licensed in your state. Medicare Supplement benefits are paid for by Medicare Supplement insurance companies after Medicare has paid its share of the bill.

There are two ways to enroll in Medigap plan, either signing directly through the insurance company or use the service of Independent Medicare Supplement Insurance Agents representing this company (as well as many others). No matter what path you will choose, the rates and benefits are the same. Nevertheless, there are several advantages for you, the customer, to use the services of an independent insurance agent. Read below. Read more…

What are options if your Medicare Advantage plan is ending – 2019?

UPDATED Jan. 30, 2019. The recent Medicare Interactive post Options for those whose Medicare Advantage or Part D plan is ending at the close of the year reviews the decision making process in the event your Medicare Advantage plan is ending. Here are the major points.

What are your options if your Medicare Advantage plan is ending

Options if Your Medicare Advantage plan is ending

By the early October 2019, you should receive a letter from your Medicare Advantage plan if your plan is ending at the end of the year and will not be available next year. In any case, you retain your coverage until December 31, 2019.
You may use the Medicare Open Enrollment Period which occurs from October 15 through December 7. During this time you may join a new Medicare Advantage plan (with or without a Prescription Drug Plan (PDP)) or switch to Original Medicare and join stand-alone PDP plan. Your coverage will begin January 1, 2020.
Alternatively, because your plan does not renew its services and ending, you are entitled to Special Enrollment Period (SEP) running from December 8, 2019 through February 28, 2020.
You may want to sign up for another Medicare Advantage plan or be automatically enrolled in Original Medicare.
- If you want to join another Medicare Advantage plan
  - You can sign up for a new plan between December 8, 2019 and February 28, 2020. It is best to sign up for a new plan by December 31, 2019, so you can get coverage beginning January 1 of the next year. Otherwise, your coverage will start the first day of the month after you enroll.
  - Most Medicare Advantage plans include drug coverage.
- If you want to enroll in Original Medicare
  - You will be automatically enrolled by December 31, 2019, if you don’t enroll in a Medicare Advantage plan as discussed above. Your Original Medicare coverage will begin on January 1, 2020.
  - By enrolling to Original Medicare, you may be eligible for a Medicare Supplement. Check your Medicare Supplement State Regulations.
Decide whether you need prescription drug coverage. You may either sign up for a Medicare Advantage plan that offers drug coverage or you may sign up for a stand-alone prescription drug plan (Part D) that works with Original Medicare.
- If you want to join a Medicare Advantage plan, sign up for one that offers prescription drug coverage (see above)
- If you’re going to enroll in Original Medicare, sign up for a stand-alone Part D plan
  - Try to sign up for a Part D plan by December 31, 2019, so you can have drug coverage beginning January 1 of the next year. You technically have until February 28, 2020, to sign up for prescription drug coverage. However, if you wait until January or February to enroll in the new plan, your coverage will start the first day of the month after you enroll.

Please give us your feedback!

What do you think about What are your options if your Medicare Advantage plan is ending? Write your comments.

Contact Us

For help finding the best Medicare or Individual Health Plan for you, please contact Liberty Medicare or call us at 877-657-7477.

How much doctors are paid by Medicare?

For the first time in its almost 50-year history, the government has released detailed data about how much doctors are paid by Medicare and what procedures doctors performed. The data only cover Medicare Part B for the year 2012. It includes payment for doctor’s office visits, lab, and procedures (such as x-rays and chemotherapy treatments) and does not include payments for hospital visits, prescription drugs, or private insurance. You may find details in The New York Times and Washington Post. Read more…

Health Services not covered by Medicare

Medicare covers most but NOT ALL health services, and does not usually pay 100 percent of the cost even for covered services. Even if Medicare covers a service, you generally have to pay your deductible, coinsurance, and copayment.

Health services not covered by Medicare

Health services not covered by Medicare include (but are not limited) the following: Read more…

Medicare Supplement E-Apps

Until recently, the only way for an agent to enroll a non-local client in a Medicare Supplement (Medigap) plan was by using regular mail. The paper application was sent, the client completed and signed it, and the completed application with the enclosed check was mailed back to the agent. The agent then sent or faxed the application to the vendor. Not anymore. The power of the Internet and electronic applications (E-Apps) offered by many vendors raised the Medigap enrollment process to a new level. Read below about all the advantages using Medicare Supplement E-Apps. Read more…

Medicare Supplement Household Discount

You may be entitled to the Medicare Supplement household discount if the state where you live allows the discount and the Medicare Supplement vendor whose policy you are using offers the discount. Most states do allow the Medicare Supplement household discount. The typical rebate is 5 to 7%. The vendor offering the discount is state specific; a company offering the discount in one state may or may not provide it in other states.

There are two types of household discounts available. Read below. Read more…

Medicare Extra Help SEP: How to change your plan at ANY TIME?

UPDATED on Jan. 5, 2019. How can you change your Medicare plan at ANY TIME using the Medicare Extra Help SEP?

You may change your Medicare Advantage or Prescription Drug (Part D) plans ONLY at specified enrollment periods. The two most known of them are Initial Coverage Enrollment Period (ICEP) that occurs when you turn 65, and Open Enrollment Period that runs every year between October 15 and December 7. Outside of those periods, you can only change your health and prescription plan coverage, if you qualify for a Special Enrollment Period (SEP). Using SEP you may change a Medicare plan at any time or at specific times depending on the SEP’s nature. Read more…

Are Medicare Supplement company ratings important?

For most types of insurances, the company name and rating are essential. The Medicare Supplement, also known as Medigap, is an exception from this rule. For Medicare Supplement company ratings are NOT really important. The reason is the standardization of plans and centralization of processing. Read below.

Why are the Medicare Supplement company ratings NOT Important? – Standardized Plans

All Medigap plans are standardized. There are 10 standard plans, defined by their letter, each of them with a specific set of benefits. A particular Medicare Supplement plan (for example, Medigap Plan F) from one company is THE SAME as the plan identified by the same letter from any other company. The difference is the price, and it may be quite substantial from vendor to vendor.
As in Original Medicare, there is no network for any Medigap plans. As long as your doctor/hospital accepts Medicare, he/she is obliged to accept any standardized Medicare Supplement plan from ANY company.

Why are the Medicare Supplement company ratings NOT Important? – Centralized Claims Process

Medigap claims are processed through the centralized Medicare “crossover” system. ALL Medicare Supplement companies use the same system. It effectively links Medicare Part A and Part B with Medicare Supplement plans and assures the same payment schedule and the same payment amount no matter what the Medicare Supplement company is.
As a result, there is just ONE Claims Processing System. And because all companies use it, the role of specific company name and rating in the claims process is minimal.

Please give us your feedback!

What do you think about Are Medicare Supplement company ratings important? Write your comments.

Contact Us

If you are looking for Medigap coverage, let us guide you. To view real quotes from Medigap plan providers, please fill out our Medicare Supplement Quote form, or give us a call at 877-657-7477.

Why are Medigap plans popular?

Most people who have Medicare also have some form of supplemental insurance. Only 12 percent of people do not have any supplemental coverage. Medigap plans, also known as Medicare Supplement Plans, is one of the major sources of supplemental insurance for people with Medicare. And their share is growing. So, why are Medigap plans popular?