Maximize Your Medicare Newsletter 17 Dec 2014

Maximize Your Medicare Newsletter December 17, 2014 WELCOME TO THE NEW FORMAT

Connect and Share Maximize Your Medicare everywhere:

Stuff I heard today: “I have a very good program through my employer.� Maybe, or maybe not: spouses of active employees, who are Medicare-eligible should, in certain cases, be able to access superior coverage at lower prices. Spouses are frequently charged very high premiums.

Along with a new edition of Maximize Your Medicare, I thought a new format for the newsletter, might be a good idea.

Dislike Your Medicare Advantage Plan?

Switching from Medicare Advantage to Medigap It is commonly asked: can I change from Medicare Advantage to Medigap in the future? The answer is yes, but it is vital that the steps below are followed, in order.

This is the time, now, to apply for Medigap, if you are interested in changing from a privately purchased Medicare Advantage to Medigap. (continued) Here are the steps to take.

A. Apply for Medigap. Medigap open enrollment lasts until the end of the 5th month following the month that you turn 65 years old. Example: if you are born on February 2, then your Medigap open enrollment period ends at the end of July. If this is NOT you, then you will be subject to medical underwriting, in which case your application can be accepted or denied at the discretion of the carrier.

SEND JAE YOUR PERSONAL QUESTIONS and REQUESTS Jae [at] maximizeyourmedicare [dot]com or CLICK THE ICON FREE ANDROID APP: You enter Date of Birth, and check some boxes. Depending on your answer, out comes a checklist of issues to consider.

A perfect place to start for those new to Medicare.

Maximize Your Medicare Newsletter December 17, 2014

Connect and Share Maximize Your Medicare everywhere:

Don’t Forget the Podcast For those that don’t like to read, there is a podcast. You can subscribe to the podcast by clicking here.

Dislike Your Medicare Advantage Plan?

B. Only after being accepted by a Medigap carrier, you can cancel privately-purchased Medicare Advantage by enrolling in a standalone prescription plan (Part D), during the Medicare Advantage Disenrollment Period, which runs from January 1 through February 14. By using this period of time, it allows you the right to enroll in a standalone Part D plan. This will ensure that you have both health and prescription drug benefits under Medigap and a standalone prescription plan.

SEND JAE YOUR PERSONAL QUESTIONS and REQUESTS Jae [at] maximizeyourmedicare [dot]com or CLICK THE ICON

This Doesn’t Apply If Covered By Group Insurance For those that have Group Medicare Advantage, this does not apply.

You have the right to cancel at any time throughout the year. That is subject to a different, and admittedly complex, set of issues to consider.

A. Companies frequently have enrollment periods, separate from Medicare. You will want to make sure that you are allowed to cancel, and that you will not be charged on an ongoing basis.

B. Companies have different rules regarding whether or not a spouse, NOT Medicare-eligible, can be covered. There is no single guideline on this.

FREE ANDROID APP: You enter Date of Birth, and check some boxes. Depending on your answer, out comes a checklist of issues to consider.

A perfect place to start for those new to Medicare.

Maximize Your Medicare Newsletter December 17, 2014

Connect and Share Maximize Your Medicare everywhere:

People don’t know how Medicare works. People you know may not discuss it with you for personal and private reasons.

This should NOT be mistaken as: “My friend doesn’t talk about it, so he/she get it.”

Help them: share this.

Dislike Your Medicare Advantage Plan?

Your spouse can elect a private plan under "Life-Qualifying Event" which will allow acceptance in a private health insurance plan. Please note that you will want to compare benefits and premiums to your existing group plan.

C. Companies have different rules regarding your ability to re-enroll in the future. This is important because if you want to change your mind, and return to the group plan, then your ability may be restricted, or not. Again, this is at the discretion of the company providing benefits (employer).

D. Group Medicare benefits may provide prescription drug benefits without a prescription drug Coverage Gap. This may be particularly important if you will predictably reach the Coverage Gap under Medicare Part D. E. If you want to change from Group-provided insurance to private Medigap, then you have 63 days to enroll in Medigap. However, if you want to enroll in privately-purchased Medicare Advantage, then you do NOT have 63 days. In fact, you cannot have a lapse at all.

F. If you are comfortable with all of the points above, then you can enroll in Medigap plans A,B,C,F,K and L without medical underwriting.

Your acceptance is guaranteed.

G. If you are comfortable with all of the points above, then you can apply for Medigap plans D, G and N, but the carrier can determine, at

SEND JAE YOUR PERSONAL QUESTIONS and REQUESTS Jae [at] maximizeyourmedicare [dot]com or CLICK THE ICON FREE ANDROID APP: You enter Date of Birth, and check some boxes. Depending on your answer, out comes a checklist of issues to consider.

A perfect place to start for those new to Medicare.

And...It’s FREE.

Maximize Your Medicare Newsletter December 17, 2014 Dislike Your Medicare Advantage Plan?

Connect and Share Maximize Your Medicare everywhere:

Stuff I heard today: “I have a very good program through my employer.” Maybe, or maybe not: spouses of active employees, who are Medicare-eligible may, in certain cases be able to access superior coverage at lower prices. Spouses are frequently charged very high premiums.

(continued) its own discretion, whether or not to accept your application.

An Expert May Be Required Actually, the rules are pretty clear. You may not think so after reading this list. Many of these rights are not well-known by everyday people, that can face a variety of health or financial situations, who could be better served under a different Medicare configuration.

The feedback loop to a person’s overall financial plan is powerful.

Healthcare cost planning is usually left to you independently, and the resulting financial risk to your overall financial plan can be both very good (you don’t have to worry, at a lower price, with standardized benefits), or not good (you may be accepting risks that you may not want). For this reason, a financial expert that also fully understands Medicare may be in order.

Special Library System Offer Very simple, straightforward. If a library system purchases a copy of Maximize Your Medicare (2015 edition), I will deliver the free information session, waiving any honorarium (fee) to the patrons of the library.

If I am unable to reach that library’s location, then a live video webinar is available with the ability to ask questions, live.

SEND JAE YOUR PERSONAL QUESTIONS and REQUESTS Jae [at] maximizeyourmedicare [dot]com or CLICK THE ICON FREE ANDROID APP: You enter Date of Birth, and check some boxes. Depending on your answer, out comes a checklist of issues to consider.

A perfect place to start for those new to Medicare.