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Medicare Updates For 2011/2012

myfreeforum — Mon, 03 Oct 2011 14:06:27 +0000

Medicare Changes For 2011/2012

Medicare Updates May Concern You! Check The Dates.

Even though Medicare has been established in the USA for a few generations, it is still evolving as an institution. In fact, over the last decade or so, the pace of change has increased. Change can be a good thing because this evolution gives beneficiaries a lot more choices. However, it is more important than ever to keep up with these changes so you do make the best use of the health benefits!

How To Keep Up With Medicare Changes And Updates

In this information age, a lot of information is posted online. This makes it fairly easy to find the most current updates if you know where to look. These days, a lot of seniors do spend time online. They have Kindles, Smart phones, laptops, etc. like everybody else. If you help care for an elderly person who is not online regularly, please take the time to help them.

The Official Medicare Website – This site makes good uses of its funding and resources by providing most of the basic information that anybody could need. You can visit the official Medicare website at Medicare.gov.

Here is a sample of what you will find there:

Compare local Medicare Advantage, prescription, and supplement plans.
Register and log in to check your own enrollment. You can also find important Medicare dates you may need to know.
Find out what medical services Medicare covers, and exactly how the plan will cover these services. Of course, if you have an MA plan or supplement, your plan may vary.
Enroll in Medicare online!
Learn more about the plans. You can find out exactly what Part A, B, C, and D cover!

What’s New For 2011/2012?

One thing that has changed over previous years is the timing of the open enrollment periods. Get updated information on 2011 and 2012 Medicare Open Enrollment Dates here. It also covers the actions you can take during the different periods.

The periods have grown shorter, and they end earlier. This gives you less actual time to make changes, but you should still be able to get advance information so you have plenty of time to make a decision. The earlier end dates also give companies, the government, and individuals more time so all the materials and ID cards can be distributed by the start date.

Why Stay Updated On Medicare Health Plan Changes?

Medicare Advantage (Part C) and prescription (Part D) plans change, are developed, or even pull out frequently. Your current plan may have added or removed some benefits. The premiums may have changed too.
Medicare supplement plan levels are standardized across companies, but these private insurers may raise or lower rates. Sometimes, new Medicare supplement plans levels are added, and sometimes old ones get taken away.
It is important to be sure that next years Medicare health plan will satisfy your needs the way last year’s plan did.

You can also get private help understanding your benefits. A highly trained, local agent or company representative can be a huge help. Consider getting Medicare Supplement Quotes so you can compare different options and prices.

If you are not sure which plan will meet your current health needs the best, you can compare Medicare Advantage vs. Medicare Supplements vs. Medicare Prescription plans too.

Today’s Medicare Recipients

Today’s beneficiaries do have many choices to help them make the best use of their benefits, get good health care, and pay the least in premiums. However, there is never one right plan for every beneficiary. It is important to consider your options, find help when you need it, and make sure you understand when you need to take action!

Medicare 101 – The Basics Of Medicare

David — Sat, 23 Jul 2011 16:47:08 +0000

What Is Medicare Health Insurance?

What Is Medicare?

Have you been following the news or the current budget discussion? If so, you have probably heard a lot of discussion about some large federal programs like Medicare, Social Security, and Medicaid. Many Americans are actually confused by these programs, though many millions of Americans rely upon services, payments, or benefits from one of them!

Why Is Medicare Important?

The US health insurance plan that gives benefits to qualified senior citizens and disabled people is called Medicare. Over 45 million people in the US rely upon this as the basis for their health plan. In the current market, it would probably be impossible for most of these people to get or afford private medical plans.

The plan does not pay for everything, and it does include co pays and deductibles. Some people purchase supplemental insurance form private companies for more complete benefits. Others just rely on the basic plan and pay for costs out of pocket.

The Basics Of Medicare Health Insurance

Original Medicare consists of Part A and Part B. Most people do not have to pay an extra premium for Part A, but a Part B premium usually comes out of social security checks.
Some beneficiaries may supplement with a Medicare supplement plan from a private carrier. Others may enroll in a Medicare Advantage plan from a private company to maximize benefits and minimize out of pocket costs.
There are also extra Medicare prescription plans, sometimes called Medicare Part D. These help recipients manage the costs of prescriptions.
Learn more about Medicare Health Insurance alternatives and choices here.

Why Is Medicare A Sensitive Issue?

Medicare has been around since the 1960′s, and it has become a familiar US institution. You may wonder why the subject is up for so much debate today!

Millions of Americans have paid into the system, and almost 50 million of us are qualified for benefits. However, the costs of this plan are a large part of the benefit and they keep rising. This is why this is such an important and sensitive issue today when the government starts to try and manage the federal budget.

Early Retirement, Under 65, And Health Insurance

FinanceGuy — Thu, 02 Jun 2011 15:16:24 +0000

How Do Retirees and Small Business Owners Afford Health Insurance?

Most of the talk about retirement health insurance centers around the US federal health plan for people over 65 or disabled people. This plan is, of course, Medicare. Medicare accepts qualified people over 65 or with qualifying disabilities.

Retirees Under 65?

However, these days, many middle aged people are choosing early retirement as their best option. There are a variety of reasons for this, but sometimes it just works out because the job market is so sluggish for older people. Sometimes, these people want to start their own business. Either way, they are not qualified for Medicare because they are under 65 years old and not disabled.

One of the biggest obstacles to early retirement, or even choosing to retire from the present career and start a small business, is finding a major medical plan between the ages of 50 and 65. Middle aged people are one of the hardest groups to insure, or at least to find cheap health insurance for!

This is not just a problem with people who choose to retire early either. It can also be a tough situation for older people who are unemployed, or who do have employment that does not provide a medical plan.

Affordable Health Insurance Between 50 and 65

It is a shame that older people need to delay their plans just because they are afraid they will not be able to access quality health care. However, that subject has been discussed enough in plenty of other venues and forums. For now, let us concentrate on things you can do if this a problem you have.

Consider these things:

Will some health condition raise your rates or keep you from getting approved at all?
Older people can expect higher rates than younger people. Can you budget for a monthly premium and out of pocket health costs?
If you do not get approved, can you use your state or federal high risk pool? In some states, these are not cheap!
If you cannot afford private insurance or a high risk pool, can you still find coverage from a county health plan, Medicaid, or another private or public source of affordable health care?

I presented these questions as a way for you to start thinking about ways to tackle the problem of finding affordable health plans between 50 and 65. For more details, visit this page: health insurance between 50 and 64.

How Can Unisured Diabetics Afford Health Care?

admin — Tue, 17 May 2011 13:49:32 +0000

Medical Help For Uninsured Diabetics

Options For Uninsured Diabetics

Even though it has been over a year since the Affordable Health Care Plan passed, many Americans still wonder how to afford health care, especially for uninsured people with pee-existing conditions.
Diabetics have always struggled. Group policies, through employers, should cover most medical services and prescriptions. However, many Americans lack group coverage. Few major medical policies will accept diabetics on an individual or family health insurance plan. Since proper care is crucial to maintain health, how can families get help?

What About Health Reform?

Health reform has already brought some changes. Insurers are not allowed to decline children, up to age 19, for pee-existing health conditions. Furthermore, parents can keep kids on their plan up to age 26. This has helped many people make sure that young people, whose parents have group coverage, get help affording health care.
But what about adult diabetics without medical plans? What about young people who do not have the luxury of parents with health insurance? How can these people find help?
State And National High Risk Health Plans: Every state in the US has a high risk health plan or pool for people with health conditions. Now, there is also a new federal health pool that is being implemented all over the nation. You can look for the website for your own state’s high risk health plan in order to find more information for your state, and for how and when the federal plan will be implemented in your area.
The federal program promises some relief. But even though each state has a plan, some of these plans are quite expensive. They may also have waiting periods, and also, not everybody qualifies for coverage. There is also a limit to the amount of people who will be accepted by the national program.
CHIPS: The children of families with low to moderate incomes may also qualify for the Childrens Health Insurance Plan (CHIPS). This is a federal and state effort to cover millions of kids in the US who do not have any other access to health insurance.
So while the state or national high risk pools will help some people, they are not a perfect solution for everybody. And families must meet income qualifications in order to get their children enrolled in CHIPS.

Private Foundations For Uninsured Or UnderInsured Diabetics

There is a private foundation that brings together a lot of resources, including health resources for diabetics. This is the Partnership for Prescription Assistance. You can visit their website at PPARX.org. This resource has helped a lot of people, with diabetes and other health issues, find help.
As the name implies, you can find a central resource for help affording prescription medication and supplies. There is also a simple zip code search if you need to search for low cost clinics and doctors. In addition, you can find contact information for foundations with money to help people who have problems because of specific diseases.
It is tough for people to manage their health issues without a good medical plan. However, this is the situation that millions of Americans find themselves in. There are resources out there to help these people, and it may take some work, but you can find help.

Does Your College Student Need Student Health Insurance?

FinanceGuy — Mon, 09 May 2011 03:21:53 +0000

Does Your College Student Need Extra Medical Coverage?

College Student Health Insurance Questions

If you are sending a child off to college in the fall, one of things on your to-do list should be to investigate health insurance for your student. According to the research, more than two-thirds of college students are covered by their parents’ health insurance plan. Check your policy to find out if your child has to be a full-time student or at least a part-time student to be covered by your insurance.

Can Your Child Access The PPO or HMO In Another City?
Find out which healthcare providers work with your insurance company in the area where your child will be attending college. If they are far from home they may not have access to health providers who participate in your plan. For example if you have an HMO and your student’s college is not within the service area, you may only be covered for emergency situations. Follow up care may not be covered unless you go back to your service area. If you have PPO and have an accident that is treated outside of the provider network, benefits will only be paid at the non-preferred level

Also, you might want to check on your mental health benefits and see what is available at the school. The stresses of college can be heavy and your child is away from home for an extended period of time. You’ll have more peace of mind if you know that help is available should they need it.

As an extra precaution, make inquiries regarding what circumstances might cause your child to be dropped from your insurance policy.
If your health insurance does not cover your child you can purchase individual insurance coverage. Premiums are typically lower for young, healthy adults. Some insurance companies have individual health insurance plans targeted at college students who are not covered by their parent’s insurance plan.

Your other option is the health insurance offered by the college. At some colleges the mandatory tuition and fees cover the cost of care for allergies, the flu, coughs, and colds. According to the Government Accountability Office (GAO), more than fifty percent of colleges and universities have their own health insurance plan for students. Most of the programs offered through colleges are either a Health Maintenance Organization (HMO) or Preferred Provider Organization (PPO). These plans provide specific hospitals or medical institutions that you can use. Insurance experts note though that most college health insurance plans are geared toward minor health issues and are not always sufficient for covering major medical problems.
As you consider student health insurance plans, either the independent plan or the one offered by the college, you should make sure your child will be covered for anything they may need. If your child has any preexisting medical conditions, make sure those conditions are covered by the policy you are considering. Not all policies will include preexisting conditions such as diabetes. It is important to know how the student health insurance policy you are considering is going to work for your particular child.
Some schools roll the cost of health insurance into the tuition plan and unless you choose to opt-out of the insurance plan, submit a waiver, and provide proof of health insurance coverage, you may be charged for this. According to a study by the GAO, 30% of colleges and universities require their students to have health insurance in order to enroll.

Long Term Care Insurance Types

admin — Fri, 06 May 2011 13:41:23 +0000

What Are The Types of Long Term Care Insurance?

Types of Long Term Care Insurance

One big problem with the world of long term care insurance is that it is very confusing. There is no standardized systems, as there is with Medicare supplements. This may be one reason why consumers hesitate to purchase a policy even though they are convinced there is a need.

Let us take a moment to take a quick look at the types of long term care insurance on the market today. Keep in mind, that different companies may have individual variations on these basic types. Also there may be some long term care insurance alternatives with different qualifications and benefits.

The Basics of Long Term Care Insurance

When we thing of LTCi, we think of coverage for home health care, adult daycare, assisted living facilities, respite care, hospices, nursing homes, and Alzheimer’s units. Some policies cover any type of qualified care, but some are very specific in the type of care that they cover. This makes matters a bit more complicated.

Also, remember that no policy will actually guarantee to fully cover all expenses. Some are adjusted for inflation, but there is no way to predict the costs of long term care services in the future.

Indemnity vs. Expense Incurred Policies

An indemnity policy covers your expenses up to a fixed amount per day. These policies may also have policy maximums, waiting periods, and deductibles. Obviously, the cost of the policy will vary by the amount of coverage you choose.

For example, let us say you purchase a policy that covers $150 a day, but your nursing home only charges $110. In this case, the policy will reimburse you for $150 until the policy maximum has been reached.

In contrast, an expense incurred policy will only cover actual expenses. So if you only spend $110 a day, the policy would only pay that amount. However, it will reserve the excess $40 against the policy maximum. So this may provide the benefit of being able to save on costs and extend coverage longer.

LTCi Daily Maximums

You may be able to select from a variety of daily maximums. This can range from $50 to $300 a day. This maximum may also vary depending upon what type of nursing care you need. If you only need a home health care worker to stop by for a couple of hours a day, you will not spend as much money than a person who needs 24/7 skilled nursing.

LTCi Elimination Periods

You can also choose from a variety of waiting (elimination) periods. This is the length of time that you will need to use nursing care before benefits start kicking in. These may range form a few weeks to a few months. The longer the waiting period, the higher your out of expenses will be. However, a longer elimination period will also lower your premiums.

How much do LTCi policies cost?

Long term care insurance costs will vary. This is true of most types of insurance policies, and it is also true of long term care insurance. Your age, coverage limits, and elimination period will affect rates. Your location can also matter as some areas have more expensive nursing services than others. You may imagine that a rural are would probably offer less expenses services than downtown Manhattan does. So, it will be important to shop for a policies on an individual basis.

Of course, insurance companies also vary, so you should take a little time to compare different companies. You can find online long term care insurance quotes that can help you compare plans and prices from your own computer. Our free insurance quotes online can make this task a lot easier!

Concierge Medicine: Health Crisis Symptom or Problem?

FinanceGuy — Tue, 05 Apr 2011 14:03:32 +0000

What is concierge medicine?

Does Concierge Medicine Make Doctors and Patients Happier?

A concierge medical practice charge patients a yearly fee in order for patients to belong to a medical practice. Sometimes these are also known as retainer based medical practice, similar to having a lawyer on retainer.

Typical fees may range from $1,500 to $1,800 a year. Fees and care levels do vary though. Some practices may only charge a $500 fee while others may charge $5,000. Sometimes this type of practice is also known by other names like boutique or retainer-based medicine.

Right now, only a few thousand doctors belong to membership based practices, but the number is increasing. All sorts of medical practices, from dentists to pediatricians, may adopt this business model. However, in response to lower Medicare payments and tighter restrictions, there have been more Medicare doctors who have begun to impose a yearly membership fee on their patients.

Advantages of Retainer-Based Medicine

Doctors defend this practice by saying they can see fewer patients and deliver higher quality medical care. Lower payments, by health programs like Medicare and private insurance companies, have encouraged more practices to adopt this business model. Instead of rushing through appointments in order to generate revenue, the membership fees allow medical service providers to reduce the number of patients they see. This allows them to spend more time with each patient.

Most of the medical practices also argue that their membership fees are modest. Middle class people can afford the fees if they see their health care as a priority.

Controversy over Membership Medical Practices

Critics claims this promotes a 2 tiered medical system, and that it aggravates problems for doctors who do not charge a membership fee. People can afford the fee may get faster service and more time with a medical professional. Those who cannot afford the fee may find they are waiting longer for less service.

For example, a medical practice with a lot of Medicare patients may impose a concierge fee. This office will still accept this government health insurance, but only for patients who pay the yearly fee. While these patients can still get their medical services covered by Medicare, they cannot get the membership fee covered.

Note that I used Medicare as an example. You could make a similar comparison with other health insurance plans too. I do not know of any medical plans that will cover the membership fee.

What happens? Patients who can afford, and see the value of, the yearly fee will remain. They may be very pleased because they will not have to wait as long for appointments and can actually talk to the doctor on the phone between visits. When they do visit the doctor, they may find that the doctor can spend more time with them.

Doctors can concentrate on delivering better quality medical care too. They get to spend more time with each patient, and they find that this type of practice is less exhausting and more rewarding.

Here’s the problem. Many people do not have the extra income to pay for a membership, and they will need to seek another doctor. Senior citizens are making do on fixed incomes. Almost 50 million Americans do not even have health insurance!

The membership practice gets to increase revenue with fewer patients. Other doctors that still accept patients without an extra fee, could see their practices becoming a lot busier. These doctors may not want to abandon patients who cannot afford the fee, but find that they are struggling to keep their practices afloat because of lower insurance payments and higher expenses.

Will Concierge Medicine Hurt Health Reform Efforts?

Right now, membership medical practices are still a small minority, though the concept is becoming more popular with doctors and some patients who do not mind paying more for extra care.

Actually, the increase in these practices is more of a symptom of a problem than the actual problem. Some hybrid or very efficient membership practices provide very good benefits with a very modest fee (like $25.00 a month). The practices make use of nurse practitioners and physician’s assistants to see patients with routine complaints and reserve doctors for more complex issues. Others have a membership program with a higher service level, but still accept non-membership patients.

Health reform needs to address the issues that are making concierge services more popular.

Health Reform: Health Insurance Exchanges Explained

admin — Thu, 31 Mar 2011 14:34:29 +0000

Health Insurance Exchanges Explained

As I detail one of the biggest parts of the new US health reform act, bear with me. The exchanges are part of President Obama’s US health reform act. This was signed in March of 2010. However, health insurance exchanges are only implemented in a few places right now. They are scheduled to be implemented, by each state, by 2014. So things are still fluid, and this means that things could change.

The fact that things are fluid, and that the actual program has not yet been implemented, probably explains why a lot of the information is a bit confusing and vague. I am doing my best to reduce the information to something simple.

These new exchanges will be, like most insurance, regulated at the state level with federal assistance. The exchange will decide which insurers to admit, but insurance companies can still sell major medical outside of the exchange. You can find US state insurance departments here.
They should NOT affect people who work for larger companies and get their medical benefits from a group health plan. They are mostly intended to benefit people who do not get group health and who are not qualified for Medicare.
Some examples of people who may use the exchange would be self employed people and small business owners, people with jobs in smaller companies that do not provide group health plans, unemployed people, or those who have retired but are not old enough for Medicare. The big change will be to the individual health insurance market. One website discussed how health insurance exchanges may benefit older insurance shoppers.
Insurance plans will be standardized. There will be different levels like “bronze”, “silver”, “gold”, and “platinum” plans. This should make purchasing decisions less confusing because it will be more possible to compare “apples to apples”. Even though these plans are not for Medicare beneficiaries, it is helpful to compare these levels to Medicare Supplement standardized plans.
Health insurance companies may not decline people with health conditions. They also cannot charge more. This means that the risk has to be spread, and this is the reason that the insurance companies want the purchase of health insurance to be mandatory (or the non-purchase to be penalized).
Insurers may charge different rates by age, location, and plan level.

Again, more than half of people in the US (under 65) get group medical benefits. This is for the “other half’ who relies on private of government programs. Apparently there will be a subsidy for those with low to moderate incomes so they can afford the premiums. I do not have any information about how those premiums will compare to current insurance rates.

What If Private Health Insurance Declines You?

admin — Fri, 11 Mar 2011 16:22:24 +0000

Who Gets Health Insurance Declines?

Here’s the good news. Over fifty percent of Americans do have group medical benefits! This means that these lucky people, or their families, get medical benefits from their job. These employees probably do not spend a lot of time worrying about health insurance.

What about the other half? Millions of people in the USA must find another way to get their health covered. People who lack group medical plans might buy private insurance or find a government program. Millions of Americans have no medical insurance at all.

If you have a job or business which does not supply group heath insurance, you will probably look for an individual or family plan from a private insurer. This is a good choice for many self employed people contract workers, or employees of companies that do not have group plans.

Family and individual health insurance companies are not forced to accept everybody who applies. They underwrite each individual who applies.

Many Health Insurance Applicants Get Declined Because of Pre-existing Health Issues

If you have been declined, you can turn to a high risk pool. Every US state has some sort of plan to cover people with pre-existing conditions. There is also a new, national health pool that is being implemented as part of health reform. The exact details of the state and federal plans will be different in different areas. For example, premiums could vary by county. The medical providers could also be different in different parts of the country.

Learn more about state and federal high risk health pools.

These state programs have been around for decades. They have helped a lot of people find coverage. However, in some states, they were quite expensive. Lots of people cannot afford the premiums. Some of the plans also have waiting periods so pre-existing conditions would not be covered right away. This could be a big problem for people with an acute need for health care.

The federal high risk pool was developed to help solve some of these problems. Since it is subsidized by tax money, the premiums should be more afordable. One good way to get more information is to search the web. Simply search for the high risk health plan for your state. The website should explain the plan, how to qualify, and how much it costs. The site will also give you information about the federal plan. You should have the information to figure out if one of these options will help you get covered.

A high risk health pool will not serve everybody though. If you have lost your job, or have a low income, you still may not be able to afford the plan. If you read the plan information, and do not think you can afford it, call for information about possible subsidies. If that still does not help you, you may need to look into some low income health insurance choices that you may qualify for. Some people can get covered with federal programs like Medicaid, for low income people, and CHIPS, for children of low to moderate income families.

Just like you have to find auto insurance before you have an accident, it is always much better to buy health insurance before you get sick. Sometimes things do not work out that way, but you shoul take the time to consider your choices!

2010 Tax Break For Self Employed Health Insurance

FinanceGuy — Mon, 07 Feb 2011 15:54:35 +0000

More Self Employment Tax Breaks For Small Business Health Insurance

Health Reform and Small Business

Just when it looked like all of the health reform changes were not doing much to help most small businesses owners, it seems like we may have missed something which can make a large impact on our total tax bills. Since 2003, self employed people could deduct health insurance premiums from their taxes. This only seems fair since employees with group plans did not have to pay taxes on company contributions and large employers certainly got a tax break. But was it fair enough?

USA Today reported that the average family health insurance policy costs about $14,000 a year. Keep in mind, this is the total cost. If you are employed by a company that offers group heath, your employer may pay part of this cost. However, if you are self employed, you probably foot the whole bill.

Since 2003, you could deduct that $14,000 (or whatever amount you paid) from your earnings as an income deduction. Of course, your own family premiums will vary because of the age, health, and number people in your family, plus the type of coverage you purchased and where you live.

Self Employment Taxes

The rules have changed so self employed people get another break for 2010 federal tax returns. Self-employed individuals pay 15.3% of their net earnings which is known as the self-employment tax. Employees usually share this burden with their employers. This tax covers social security and Medicare.

Deduct Health Insurance Premiums From Self Employment Taxes

For your 2010 taxes, you can also deduct health insurance payments from self employment tax too. This new deduction should lower your tax bill even more.

Are Your Tax Forms and Tax Software Updated With 2010 Tax Changes?

Make sure your tax forms are updated with these changes because it can provided a timely and much applauded benefit to self employed individuals such as real estate agents, insurance agents, consultants, etc. Some forms and online programs were not updated, and so taxpayers were urged to wait a while before filing.

You can find the IRS information about 2010 Self Employment Tax Health Insurance here.