Blog
Long-Term Care Simplified
WHAT IS LONG TERM CARE (LTC)? It is NOT medical insurance. Rather, it covers "Activities of Daily Living" which include eating, bathing, getting dressed, toileting, transferring, continence and dementia. Note: care does not have to occur in a nursing home - LTC...
Employer Coverage vs Medicare
Some people equate Medicare to an HMO. However, you can choose a "Medicare Supplement Plan" in which you can go to any provider that accepts Medicare - no referral needed! MEDICARE SUPPLEMENT PLAN BASICS: You can go to ANY provider in the U.S.A. as long as they...
Medicare Part B Costs and IRMAA
,For 2020, the base cost of Part B is $144.60 - but it can be more based on your income. The acronym for this cost adjustment is IRMAA (Income-related Monthly Adjustment Amount). To see a chart of IRMAA charges, click here. Note #1 - If you are in one of the higher...
Medicare Part B – What if you lose it?
Short answer: If you lose Medicare Part B it can be a major catastrophe. So if you’re not already set up on auto-pay, you might want to consider it – click here. Note: If you’re drawing Social Security, your Part B is probably being auto-deducted from there. WHAT CAN...
How to Pick a Medicare Advantage Plan
Every year when the new plans come out, I make a spreadsheet of all the benefits - across all the plans. It's amazing to see how similar all the plans are to each other. The biggest differences between the plans (generally speaking) are not even the medical benefits....
What is the Coverage Gap (Donut Hole)?
The cost of the average drug plan is under $30/mo, which barely pays for 1 prescription. The Coverage Gap (donut hole) was meant to control drug costs and keep the program sustainable. Here's how it works: THERE ARE 4 "STAGES" IN A DRUG PLAN: 1. Deductible2. Initial...
Medicare Prescription Drug Coverage
IF YOU HAVE A MEDICARE ADVANTAGE PLAN: Drug coverage is already included in the plan. IF YOU GET A MEDICARE SUPPLEMENT: Drug coverage is not included. You should buy a separate drug plan. GET THE RIGHT PLAN: All drug plans are not created equal. If you're taking...
Medicare for All – One Man’s Opinion
I am NOT making a political statement but rather offering food for thought based on my 20 years as a health insurance & Medicare broker. “Medicare for All” is a misnomer. Medicare as we now know it, for people 65+ years old, is not an entitlement. We’ve paid for...
Obamacare Penalty Ends – Should I Keep My Health Insurance?
Since the Obamacare penalty went into effect Jan 1, 2014, lots of people have tried to figure out whether it's cheaper to buy health insurance or pay the penalty. As a health insurance agent, many of these people have asked me to help them figure it out. I answer...
Long-Term Care Insurance
Long Term Care (LTC) is probably the most needed yet least purchased insurance. Why the most needed? You'll see below. Why the least purchased?Mainly because it's expensive and if you don't use it, then all your premiums were paid for nothing. But there is a better...