Blog
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...
America’s Silent Epidemic – Listen Up!
Hearing loss is America's silent epidemic. It can have a more negative impact on the quality of life than obesity, diabetes, strokes or even cancer. Yet according to an AARP survey, more people report having gotten colonoscopies than hearing tests. The above is an...
Is My Provider In Network?
Since you can only change your health insurance during Open Enrollment, it's very important to confirm that your provider is "In Network". PROBLEM: The networks are getting increasingly smaller - and it's especially difficult if you're trying to find more than 1...