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Medicare open enrollment starts October 15th. How can YOU save money? Click SHOW MORE for time stamps. Watch our videos.
How does Medicare insurance work? What is Part B? Bob Vineyard, independent Medicare insurance agent.
0:20 Is Open Enrollment for you?
0:40 If you want to change your Medigap plan, this is for you
1:20 When to review your Medicare Part D and Advantage plan
2:10 Drug plan preferred pharmacy’s save money
3:50 Don’t ASSUME what is good this year will be OK next year
Anthem Medigap plan G. Competitive rates. Silver Sneakers. Compare plans and enroll using this link.
There are at least 5 things you must know to avoid financial disaster. You can be turning 65 and enrolling for the first time or have seen this movie before. Some people make the same mistakes over and over again without realizing the problem.
The next open enrollment is October 15, 2018. Conduct a Medicare plan review.
If you think you already have all the answers, don't read this post. If you believe Medicare open enrollment is for everyone you will probably learn something.
Medigap plans are owned by you. A solid Medicare supplement plan will suit many well for years to come. Advantage plans are rented from year to year. The actual cost of the plan cannot be determined until you need it. By then it may be too late to change.
When in doubt, get advice. Even if you are confident, get advice. Don't be afraid to ask for directions, even when you don't think you are lost
Before enrolling in Medicare at age 65 for the first time, or planning your next move during Medicare open enrollment, there are things you need to do first.
Make a list of all doctors including name, address, phone
List all area hospitals, especially the ones you have used
Make a list of all medications including dosage, refills, prescribing doctor and pharmacy
Be aware of the donut hole and look for ways to avoid that trap
Make use of generics and off plan purchases
Look for FDA approved generics and ask your doctor before making a change
If renewing, get your drug list ID and password date from your last drug plan finder
If renewing, study your ANOC for changes
Use Medicare.gov for reviewing Advantage and drug plan options
Avoid using Medicare.gov for PDP comparisons prior to October 25
Medicare.gov and the GA DOI site is essentially useless when comparing Medicare supplement options
Most Medigap quote engines only list a handful of options and rarely have plans with the best value
Many quoting sites will sell your information to numerous agents; some don't provide instant quotes
Never put anything on auto-renew unless you like unpleasant surprises.
Both Medigap and Advantage plans cover the same types of medical treatment, but what you pay out of pocket for your care, and where you receive your care, is very different.
Advantage plans are managed care plans. Some are PPO, some are HMO. In 2018 about half the plans are HMO with the balance being PPO.
If you receive non-emergency out of network care under a PPO you may have higher copay’s and deductibles. Your max OOP may also be higher. Some plans do not cap out of network charges.
Non-emergency out of network care charges may be denied if you have an HMO.
In 2018 most Advantage plans issued in Georgia limit your out of pocket for approved in network health care expenses to $6700.
The American Cancer Society tells us that more than half the 1.4 million new cancer diagnoses occur in people age 65 and older. Roughly 20% of retiree deaths are a result of cancer. Medicare pays for almost half of the $74 billion spent on cancer treatment. The elderly account for 70% of cancer deaths each year.
Some cancer centers, such as Mayo Clinic and MD Anderson do not participate in Medicare Advantage plans.
Not all cancer responds to chemotherapy, but 80% of cancers are treated with chemo. Those treatments occur in an outpatient setting and are covered under Medicare Part B.
Chemotherapy drugs administered in a doctor's office or clinic normally fall under Part B. Medication from a retail pharmacy or by mail fall under your PDP.
This is why most of us chose a Medicare supplement plan in 2018. Bob Vineyard, independent Medicare insurance broker in Georgia, can explain your Georgia Medicare insurance options and will allow you to decide.
We represent several carriers including Aetna, Anthem Blue Cross, Humana and more.
According to the Mayo clinic, "new cancer treatments are routinely priced at over $100,000 per year of treatment."
Understand how Medicare works. Open enrollment only comes around once a year. Take advantage of this time to review all your options.
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How does Medicare work? Open enrollment 2018