Medicare Advantage Changes For 2014

2014 is a time of major upheaval for Medicare Advantage. Many people who’ve been fairly satisfied on their programs for years, many of whom would prefer to stay loyal to their plans, are finding that 2014 will bring about a year of disappointing changes. This is because some of their most beloved programs, such as exercise programs, for instance, are being cut. This will lead to higher out of pocket expenses for those who still want to attend these beneficial health classes. Additionally, several other cutbacks have lead carriers such as AARP Medicare Advantage to drop doctors from their coverage networks as well.

Medicare Advantage Changes for 2014

This pattern of frustrating and disappointing cuts and network changes is likely to continue from 2014 onward, and has caused many people to look into MedicareSupplement Plans (Medigap) as a more beneficial alternative. This is due to the fact that once a cost-benefit analysis has been performed comparing Medicare Advantage versus the Medigap options available through private insurers, often times Medigap plans end up being more affordable, while offering more comprehensive benefits.

Medicare Supplement Plans (Medigap) offer their beneficiaries many attractive benefits:

Medigap Is Not Network-Dependent.

Medigap users have a wider choice in healthcare providers due to lack of restricted network. This means that users can see any doctor and visit any hospital they want, and can suit their choices with the hospital’s’ specialties. It also takes away the fear of high fees for visiting out-of-network facilities and physicians.

Medigap Users Do Not Need Referrals To See Specialists.

Users with Medicare Advantage Plans usually have to get a referral to see specialists such as endocrinologists, cardiologists, and dermatologists. However, Medigap users are not limited by this requirement; they have the freedom to see specialists for health concerns and prevention as they see fit.

Benefits Can’t Change From Year To Year.

Due to the nature of their funding, Medicare Advantage plans are vulnerable to governmental changes, which means their prices and benefits may change with little to no notice to the consumer. Medigap users can feel confident in their prices and benefits, as they’re less susceptible to these changes.

In this time of drastic cuts and skyrocketing prices, many people who initially anticipated long term adherence to their Medicare Advantage plans are coming to the conclusion that Medigap plans are simply a better fit. While some may appear to be more expensive upfront, they’re actually very useful, both for those insured with medical conditions, and for those who simply greater freedom of choice within their plan. These options can actually help save money in the long run.

Summit Medigap is an independent insurance agency that specializes in Medigap supplement insurance. We make Medicare seem easy™. For more information about Medigap supplement insurance visit http://www.SummitMedigap.com/ or call us at 1-888-40-Summit (888-407-8664). We have helped many people in Florida, Georgia, North Carolina, South Carolina, Texas, Colorado and Michigan to name a few.

What is the Medicare Advantage Disenrollment Period?

Difference Between The Medicare Advantage Disenrollment Period & The Annual Enrollment Period

While there are two periods during each year that beneficiaries may make changes to their Medicare and Prescription drug coverage, the two periods are distinctly different in terms of what changes can be made when.

When Is The Medicare Advantage Disenrollment Period (MADP)?

The MADP runs from the 1^st of January to the 14^th of February. Those with a Medicare Advantage Plan are able to use this brief window to switch to traditional or basic Medicare coverage, which starts the first of the following month after the changes have been made.  Many people just signed up for a Medicare Advantage plan effective January 1st and may be having second thoughts.  For some, the max of pocket expenses are too high on Medicare Advantage Plans and for others they realize the size of the network of the doctors available has changed.  The solution is to take advantage of this dis-enrollment period, go back to original Medicare and get a Medicare Supplement Plan.

When is the Medicare Advantage Disenrollment Period?

The drawback to this is that if you choose to dis-enroll from your private Medicare Plan, you may no longer be eligible to buy Medigap supplemental insurance, which requires Medicare Part B. To find out if your state still allows you to enroll after making this change, you need to consult an insurance specialist in your state, or your State Health Insurance Assistance Program for more details.

While beneficiaries are able to make plan changes at this time, they may not switch to an alternate Medicare Advantage Plan. This can only be done during the Annual Enrollment Period.

When Is Medicare Fall Open Enrollment, AKA the Annual Election Period (or AEP)?

The AEP period if between October 15^th and December 7^th. It is during this time that people can make changes to their overall health plan, as well as their prescription drug coverage plan. Your chosen changes will take effect on the first day of the following year, at the start of your new coverage period.

Financially, it’s a smart idea to stay on top of the latest available options for Medicare Prescription Drug coverage, compared with sticking to the same plan year after year. While many people remain loyal to their Medicare plans over the long term, many beneficiaries find that when they research new plans prior to open enrollment, the updated options available to them offer better drug coverage options at a lower price, so be sure to stay open to new options to get the best value.

Also, Insurance experts recommend, for the sake of convenience, that anyone looking to change their prescription drug plan during Fall Open Enrollment do so closer to the beginning and middle of the months of October and November to allow sufficient processing time in preparation for the start of the New Year.

Summit Medigap is an independent insurance agency that specializes in Medigap supplement insurance. We make Medicare seem easy™. For more information about Medigap supplement insurance visit http://www.SummitMedigap.com/ or call us at 1-888-40-Summit (888-407-8664). We have helped many people in Florida, Georgia, North Carolina, South Carolina, Texas, Colorado and Michigan to name a few.

How will ObamaCare affect my Medigap Plan?

By B. Loughead

Out of everyone in the country, Medicare beneficiaries have been the most wary of the Affordable Care Act (ACA) or “Obamacare.” Many fear that it will change their Medicare and Medigap plans, either by increasing their prices, decreasing their coverage, or by replacing them altogether.

However, those who’ve been worried about this can rest assured that little to nothing about their Medigap or Medicare plans is going to change due to the ACA. (Some changes in price and coverage may change to do other forces such as inflation, however.)   People with a Medicare Advantage plan however are seeing a lot of changes to their network, benefits and in some cases their doctor no longer being accepted.  This is not happening with a Medigap Plan.

Medigap Supplement Information

Additionally, Health Care Reform is not going to clash with their chosen Medigap plan. Medicare and Medigap alike are not going to be turned over to the exchanges, and will remain separate programs entirely. The ACA is primarily aimed at the uninsured under 65 and others who do not meet the criteria to qualify for Medicare and Medigap supplement plans. Also by having Medicare and Medigap coverage, they meet the criteria for coverage and therefore will not have to worry about any penalties come tax time as they do meet the individual mandate that the ACA introduced.

Plus, thus far, the only real changes brought about by the ACA to Medicare and Medigap plans in particular have been very positive. They have included two things:

·          

      * A reduced cost for certain prescription drugs for beneficiaries

·    * The addition of certain forms of preventative to Medicare’s list of covered services.

Medigap, likewise, is not going to change very much as a result of the ACA, because, while the plans are standardized by the government according to their letters, it is an entirely separate program. Medigap is not subsidized by the government like the exchange program or Medicare program, and all supplementary insurance plans are sold and operated by private insurers, which are responsible for their own fine print, including cost and coverage.

Medigap Users- No Need to Worry!

Many people also have wondered if perhaps they’d find a better deal on the exchange than they find through government sponsored Medicare and Medigap supplementation. However, know that you’re getting a much better deal through Medicare and Medigap for more comprehensive coverage at a lower cost simply because it is Medicare and Medigap. Most health policy experts would tell you that if you qualify for Medicare, you would do well to stick with it, and also to get the best supplemental insurance you can for your health needs. Government subsidies for Medicare still mean that you’ll end up spending less for better care.

It is a good idea to have an independent agent review your Medigap Plan every few years to see if you can save money.  New plans and carriers come out all the time and an independent agent would be able to show you whats available in the marketplace.  The best part is you don't have to wait until October like Medicare Advantage Plans.  You can actually switch your plan any time of the year that it benefits you.

Summit Medigap is an independent insurance agency that specializes in Medigap supplement insurance. We make Medicare seem easy™. For more information about Medigap supplement insurance visit http://www.SummitMedigap.com/ or call us at 1-888-40-Summit (888-407-8664). We have helped many people in Florida, Georgia, North Carolina, South Carolina, Texas, Colorado and Michigan to name a few.

Two websites team up to get the facts out on Medicare

SummitMedigap.com is excited to announce that we are now a professional contributor to the website insurancelibrary.com.  Insurance Library is an online resource where consumers can ask licensed insurance agent's questions on various different insurance related topics.  Our contributions will be on questions relating to Medicare Supplement Insurance (Medigap), Medicare and Long-Term Care.

Medicare Information & Resources

In the information age consumers have access to information like never before, however, sometimes the information they get is inaccurate or misleading.  We feel it is important to do our part to make sure we get out factual information to consumers on complicated topics such as Medicare Supplement Insurance as much as possible.  Teaming up with InsuranceLibrary.com allows us one more opportunity to make sure consumers are getting factual information on Medicare and Medicare Supplement Insurance.  We like the fact that they go through the extra step of verifying that each contributor is a licensed insurance agent.

Our profile on InsuranceLibrary.com can be found here by clicking this link Medicare Questions & Answers.  Some of the questions we have already commented on are:

1.  Does Medicare Coverage vary by state?
2.  Can I use Medicare in Canada?
3.  Medicare Advantage or Medigap?
4.  When do I enroll in Medicare?
5.  What does Medigap Insurance pay for?

We look forward to answering more consumer questions on Medicare in the coming months. 

Summit Medigap is an independent insurance agency that specializes in Medicare supplement insurance. We make Medicare seem easy™. For more information about Medicare supplement insurance visit http://www.SummitMedigap.com/ or call us at 1-888-40-Summit (888-407-8664). We have helped many people in Florida, Georgia, North Carolina, South Carolina, Texas, Colorado and Michigan to name a few.

The Benefits Of Medigap Insurance Or Medicare Supplement Insurance Plans

One of the primary issues affecting millions of Americans (and their budgets) who currently have Medicare Advantage plans are the annual changes that are constantly being made to the benefits structure.  In many cases, these individuals are seeing their benefits decline while their out-of-pocket expenses and premium costs continues to rise.  The right Medigap plan (Medicare supplement insurance plan) can help you pay for those rising health care costs.  The following content highlights some of the key benefits of these particular plans.

Without a doubt, the biggest benefit is that the gaps in your Medicare insurance will be covered.  In some cases, this includes certain deductibles as well as any co-insurance and co-payments.  In addition to this, many supplement plans adapt automatically to the annual changes to Medicare deductibles and co-insurances.  Additionally, the cost for Medigap coverage is determined by the amount of coverage that is needed and there are very few restrictions to be concerned with.

In addition to the benefits mentioned in the prior paragraph, there are other benefits to be aware of including the following:

Coverage that is 100% portable – no matter where you live in the US, you are covered by original Medicare insurance.  The same is true for Medigap coverage.  Some plans will even cover emergency care when you are visiting a foreign country.  So you will have the peace of mind knowing that even when you are traveling on vacation, your plan may cover you.

Guaranteed renewable coverage – Medicare Advantage plan contracts may get revised on an annual basis with the Federal Government while some plans are completely discontinued altogether.  Medigap plans feature guaranteed renewable coverage and the only way that you can lose the plan you have is if you fail to pay your monthly premiums.

Medigap insurance is accepted by health care providers and hospitals that accept Medicare – however, some insurance providers may choose not to offer Medicare Advantage plans while some participating health care providers may decide that they will no longer accept any new patients after a certain date.

Your choice of hospitals and physicians – when you supplement your Medicare coverage with a Medigap plan, you will have the freedom to select the hospital and doctor that will serve as your primary care provider.  This alleviates the worry of not knowing whether you will have the same doctor or health care provider to take care of you whenever you need any type of medical treatment.

Summit Medigap is an independent insurance agency that specializes in Medicare supplement insurance. We make Medicare seem easy™. For more information about Medicare supplement insurance visit http://www.SummitMedigap.com/ or call us at 1-888-40-Summit (888-407-8664). We have helped many people in Florida, Georgia, North Carolina, South Carolina, Texas, Colorado and Michigan to name a few.