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 Medicare Part B Late Enrollment Penalty

Individuals who are eligible and choose not to enroll in Medicare Part B will receive a Late Enrollment Penalty.   Medicare will assess this penalty for those people that do not enroll when first eligible.  Medicare Part B provides coverage for outpatient services.  These services include doctors visits, testing, scans, outpatient surgeries as well as anything else medical done outside of the hospital. Enrollment in Part B for most people is automatic when they turn 65. Individuals usually pay $104.90 a month for part B benefits.  This amount can vary according to your income.

There is a penalty for not enrolling in part B when first eligible to do so.  The current penalty is 10% of the premium for every year that you choose not to elect Part B coverage.   You need to have Medicare A and B in order to purchase a Medicare supplement or Medicare Advantage plan.  What if you have coverage through your employer?  For those age 65 and over actively working and being provided with coverage from an employer it may not make sense to buy part B. Read more

How Medicare Supplements Work

Medicare supplements are insurance plans that provide coverage after Original Medicare A and B benefits.  Some people also call  these plans either Medigap or Med Supps.  There are many plans you can choose from.  All these plan options have standardized benefits from plan to plan.  This simply means that if a company is offering a plan F supplement, the benefits will be the same from company to company.  The only difference in the plans will be in the monthly premium.  As a result, it is very important to compare prices when you decide on which company’s plan you are going to use.

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Sell Medicare Plans From Home

You might be interested to know you can have a great home based career. If you are willing to do the work this can be great opportunity for you. If you like helping people and providing people with the coverage they need.  You can learn to Sell Medicare Plans From Home.  Insurance agents traditionally sell Medicare plans on a face to face basis.  They usually hold meetings in either clients homes, a public venue or their own office. If they have one.  This is how a majority of our agents write Medicare plans.  Although, our top producers rarely if ever go out to meet with new prospects or current clients.   They write and retain Medicare plans from their home every day without the need to travel and are consistently our best producers.  While Medicare supplements are often the most popular plans to sell online, some agents do also offer Advantage and part D plans.

Through trial and error we have learned the most efficient and effective way to sell Medicare from your home or office without face to face meetings.  With hard work and dedication our strategy is a fantastic way to build a big book of business quickly. We work with both new and existing agents.  Let us help you start to build a  good client base and become a successful agent.  We provide a 100% free Medicare lead program. In fact, we provide training  both via webinar and in person. In addition, we will pay licensing costs for new agents.  We offer all our agents full support.

Getting Started

Existing agents should either contact us or start with our here.  Those individuals that do not have a license and who want to become an agent, should start with our Becoming a Life and Health Agent blog.  Please  either call our office at 203-796-5403 or email admin@croweandassociates.com with questions.  We are here to help you succeed and are happy to do so!

In order to sell from home, you need to enroll members online and over the phone.  Our online enrollment platform called Connect4Medicare allows agents to enroll members online.  Click here for recorded webinar!

Should You Buy Medicare Part B

Medicare Part B becomes available to people when they turn 65.  Unless, they are eligible prior to 65 due to permanent disability. If you are turning 65 in the near future, you may ask yourself; Should You Buy Medicare Part B.   Part B of Original Medicare covers outpatient services.  These services include doctors visits, lab work, testing, outpatient surgery and most medical procedures done on an outpatient basis.  In general Medicare Part B covers 80% of the cost of services after you meet the annual deductible.

There is a cost for Medicare Part B

There is a standard Part B cost for most people, although it can be higher for those earning higher income. There is also a penalty for those that do not purchase Medicare Part B when they are first eligible for it.  Most people will pay the penalty if they enroll late.  There will not be a penalty for someone 65 or older if they receive coverage from their employer and are actively working.  The penalty also would not apply to the spouse on the plan.  If someone is 65 or older and getting coverage from an employer but is NOT actively working, they will pay a penalty for not signing up for part B when first eligible.

As a result, it is advisable to purchase Part B when first eligible.  Unless you fall under the actively working and getting coverage category.  You cannot purchase a Medicare Supplement or Advantage plan without Part B of Medicare.  This is another good reason to purchase it when you are eligible.

If you would like more information about health insurance plans. Please contact us either by phone at (203)796-5403 of by email at admin@croweandassociates.com.  We are here to help you feel comfortable with your insurance coverage.   We will find  you a plan that fits both your medical needs and your budget.

To learn more about Crowe and Associates, click here

Move To A Plan N Supplement

Move To A Plan N Supplement In this post, we are going to give you some reasons why you should Move To A Plan N Supplement.  The majority of seniors enrolled in an AARP Medicare Supplement plan (Also called Medigap) are in Plan F when the best choice would be AARP Plan N supplement.  Why are so many people enrolled in Plan F? What reason should they enroll in plan N instead?  In fact, there are a number of good reasons to consider this option.

First, we will look at why most people with an AARP supplement in Connecticut have Plan F.  Because Plan F has been around the longest most people are familiar with it.  It also has one of the highest premiums which makes consumers think it is the best choice.   On the other hand, Plan N has only been around for 3 years and is not as easy to understand compared to Plan F.

Plan F

Covers 100% of Medicare approved services not covered by Medicare A and B.  Plan N has some limited out of pocket costs ($50.00 for ER visit, $147.00 annual part B deductible, up to $20 for physician services).  All other benefits are the same as plan F.  The premium of plan N in CT is $145.50 a month vs. the Plan F premium of $218.50 a month representing a $876.00 a year premium difference.   The limited out of pocket costs of Plan N make it highly unlikely that anyone will have $876.00 in medical copays.  Only the highest of utilizers of care would be able to approach the number.

Those that want to make a change in Connecticut do not need to wait for the Annual Election Period.  You can switch from Plan F to Plan N any time of the year in Connecticut.   Because it is a guaranteed issue state for Medicare Supplement plans.

CLICK HERE FOR MEDICARE SUPPLEMENT RATES AND MORE INFORMATION

If you would like more information about this healthcare plan or any other plan please contact us.  You can reach us either by phone at (203)796-5403 or by email at admin@croweandassociates.com.

This post has been updated.  Click here for information

Medicare Supplement Rates Connecticut 2014

Medicare Supplement  Rates Connecticut 2014.  The Medicare supplement plans (also called Medigap) are standardized in the state of Connecticut. This means that plan benefits can not vary from company to company.  If a company is offering a Plan F supplement, the benefits must be the same regardless of the company offering it.  The only difference is the monthly premium.  Traditionally, the most popular plan in CT has been plan F.  AARP currently holds the best plan F price at $218.50 a month but Combined has released a plan for $214.57 a month starting in April of 2014.  Plan N and L have started to gain popularity in the last 24 months with many consumers enrolling in them as a lower cost alternative to plan F.

The state of Connecticut is a guaranteed issue Medigap state. This allows the insured to change from one supplement to another anytime during the year.   The state of CT does not allow underwriting on Medigap plans.  There is a 3 month waiting period for those that did not have any type of plan (Medicare Advantage or Medigap) prior to signing up for a Medigap plan.  The 3 month wait would not be applicable to those with a qualifying event.

CLICK HERE FOR ACCESS TO MEDICARE SUPPLEMENT RATES 2014 CONNECTICUT

Crowe and Associates is always happy to help you with either healthcare or investment needs.  We want you to feel comfortable with the plan you choose. Your plan has to fit both your healthcare needs as well as your budget.

If you would like more information about Medicare, please contact us.  You can reach us either by phone at (203)796-5403 or by email at admin@croweandassociates.com.

Changing Medigap Plans

Changing Medigap Plans is not impossible.  Medigap plans (Also called Medicare Supplements) can be changed the first of any month in Connecticut.  This change can be made internally from one Medigap to anther in the same company.  You can also change from one company to a different company.  This is allowed because Connecticut is considered a guaranteed issue state for the Medigap plans.

As a quick example, if someone is in an AARP plan F and wants to move to an AARP plan N supplement, they may do so the first of any month.  Likewise, if they want to move from an AARP supplement over to an Anthem BCBS supplement, they may do this as well.  Again, the change will take place the first day of the following month.

People often confuse the rules regarding Medicare Advantage and Stand Alone Part D plans with Medigap plans.  The rules for making changes (Nov 15th to Dec 7th for a Jan 1 change) only apply to Advantage and Part D plans.  These rules do not include the Medicare supplement plans.

Looking for more information on Medicare supplement plans?  Click Here

Crowe and Associates is a full service brokerage.  In addition to Medicare, we offer our clients council on medical, dental, life, as well as home insurance products.  We also offer advice regarding investment products including both annuity and bridge loan products.

Click here to learn about all of our services.

Do not let health insurance scare you.  Crowe and Associates is here to help you  to choose a plan that suits both your medical needs and your budget.

If you have any health care coverage needs or questions, please contact us.  You can reach us either by phone at (203)796-5403 or by email at admin@croweandassociates.com.  We are also available to help you with investment opportunities or questions.

Cigna Plan G Medigap CT Alternative Plans

We want to give you some information about Cigna Plan G Medigap CT Alternative Plans.   Cigna is an insurance company with A+ rating in their industry.   They have come out with a plan G supplement in Connecticut at the rate of $203.28.  This is the first competition to the AARP plan F supplement to come out in a long time.   AARP plan F through United Healthcare is currently priced at $220.75 a month.

Plan G covers all of the benefits covered by plan F with the exception of the Medicare Part B deductible of $147.00.  If you do the math and add up the Cigna plan G premium plus the part B deductible it comes out about $62.00 less than the annual premium for the AARP plan F.  Keep in mind that once the part B deductible is paid, the Plan G supplement has the exact same benefits as plan F.

Plan G through Cigna provides a solid alternative Medicare supplement plan to those that may not want to be in an AARP sponsored Medigap plan.

Want to Learn More About Medigap (Medicare Supplements) CLICK HERE

Crowe and Associates is a full service brokerage.   We are able to offer clients council on medical, dental, life, long as well as short term care insurance.  Annuity and bridge loans are great investment opportunities we can also facilitate for you.  We also offer clients in New York and Connecticut home and auto products.

For additional information, you can either call us at 203-796-5403 or email us at admin@croweandassociates.com.  We are here to help you feel comfortable with your insurance choice.  In fact, if you need answers to any insurance or investment questions, we can help you.

Medicare Supplement Medigap Plans

Medicare supplement Medigap Plans, sold by private companies, can help pay some of the health care costs that  Original Medicare A and B doesn’t cover, like copayments, coinsurance, and deductibles.

Some Medigap policies such as Plan F, G and N also offer coverage for services that Original Medicare doesn’t cover. These services include, medical care when travelling outside of the country.  If you have Original Medicare A and B and you buy a Medicare Supplement policy, Medicare will pay its share of the  Medicare-approved amount for covered health care costs. Then your Medigap policy pays its share depending on which plan you purchase.

A Medigap policy is different from a Medicare Advantage Plan. (MA or MAPD)  A Medicare Advantage plan is primary instead of Original Medicare being primary.

If you are looking for Medicare Supplement (Medigap) applications, CLICK HERE or email Edward@croweandassociates.com

Important things to know about Medigap policies

1. You must have Medicare A and B in order for a Medicare Supplement to provide coverage
2. If you have a Medicare Advantage Plan, you can apply for a Medigap policy.  Although your Medigap plan will not work unless you dis enroll from the Medicare Advantage plan.
3. You pay a monthly premium for your Medigap policy in addition to the monthly Part B premium that you pay to Medicare.
4. A Medigap policy only covers one person. If there is a husband and wife, you must each buy a plan if you both want coverage.
5. You can buy a Medigap policy from any insurance company that’s licensed in your state to sell one.
6. Any standardized Medigap policy is guaranteed renewable.  You can not be cancelled due to health complications.
7. Medigap plans no longer include prescription drug coverage.  If you also want drug coverage, you need to purchase a Part D Prescription drug plan.

Medigap policies don’t cover everything

Medigap policies do no cover  long-term care , vision or dental care, hearing aids, eyeglasses, or private-duty nursing.

The following policies are not Medigap plans

Some types of insurance aren’t Medigap plans (Medigap plans are secondary to Medicare, the following are not)

• Medicare Advantage Plans (like an HMO, PPO, or Private Fee-for-Service Plan)
• Medicare Prescription Drug Plans
• Medicaid
• Employer or union plans, including the Federal Employees Health Benefits Program (FEHBP)
• TRICARE
• Veterans’ benefits
• Long-term care insurance policies
• Indian Health Service, Tribal, as well as Urban Indian Health plans

Want To know the difference between Medigap and Medicare Advantage? CLICK HERE

United Health Care branded Plan C Medigap Connecticut

This post contains some important information about United Health Care branded Plan C Medigap Connecticut.  The terms “Medigap” and “Medicare Supplement”  are interchangeable they both describe the same product.  They both refer to an insurance plan that provides medical coverage that is secondary to Original Medicare.  In fact,  Medigap plans are standardized in Connecticut.  This means that there is no variation in the benefits clients receive from one company to another company.  AARP branded Medigap plans through United Healthcare currently have the lowest rates in Connecticut.  Plan C is one of three Medigap plans in Connecticut that people under the age of 65 can enroll in.

CLICK HERE FOR MORE INFORMATION ON PLAN C

 FOR MORE INFORMATION – CLICK HERE

CLICK HERE FOR AN APPLICATION

If you have any questions, please contact us.  You can reach us either by phone at (203)796-5403 or by email at Edward@croweandassociates.com.  We are happy to give our agents any support that they need in order to be their best and grow their books.