Medicare Changes Highlighted in Recent USA Today Article

A recent USTA Today article, written by Kaiser Health News reporter Susan Jaffe, details some of the changes that will impact Medicare coverage for 2014. With only one month to go before the end of the Open Enrollment Period, these changes will be important for you to consider as you review your options.

A list of the key changes listed in the article follow:
● Monthly premiums for 2014 are changing dramatically. For example, the cost for one AARP UnitedHealth plan will increase by 55%, while the cost of another popular plan from Wellcare will decrease by 38%.

● Another popular plan, SilverScript Basic, is now off limits to new members until Medicare officials are satisfied that the company has resolved operational problems.

● The coverage gap or “doughnut hole” in Part D is growing smaller in 2014. The Affordable Care Act shrinks the gap every year until it’s closed in 2020.

● Next year, drug coverage stops when the insurer and member together have spent $2,850 and resumes when the member has spent $4,550. This year, coverage stopped at $2,970 in spending and resumed at $4,750.

● Discounts on drugs that seniors buy while in the gap have also improved, and next year’s deductible is $310 instead of $325.

● The Open Enrollment Period will have 142 fewer Medicare Advantage plans, the private plans that are an alternative to traditional Medicare fee-for-service coverage,

● Officials expect average Medicare Advantage monthly premiums to increase by $1.64 to $32.60 next year, while the average prescription drug plan premium will remain roughly the same, at about $31.

These changes give you a lot to consider. And SeniorQuote is here to help.
Enjoy the USA Today article. And enjoy the saving money with SeniorQuote during the Open Enrollment Period.

Link: http://www.usatoday.com/story/money/personalfinance/2013/10/15/medicare-open-enrollment-aarp-prescription-part-d-insurance/2968031/

Washington Post article, concerned about overshadowing news on Obamacare, urges seniors to take advantage Open Enrollment Period

Link to article: http://www.washingtonpost.com/business/check-out-medicare-changes-during-open-enrollment/2013/10/29/22e57cf2-40d1-11e3-8b74-d89d714ca4dd_story.html

 

Michelle Singletary, a respected reporter for the Washington Post, is concerned that the news of the Obamacare Open Enrollment Period is overshadowing the Open Enrollment Period for Medicare. In her October 29th article, Singletary urges seniors to take advantage of this once a year opportunity to lower their monthly premiums and improve their healthcare coverage.

The Open Enrollment Period, the time of year when individuals with Medicare are able to make important changes to their healthcare coverage. Open Enrollment runs from October 15th to December 7th, and provides seniors with the opportunity to adjust their coverage, add dental and prescription drug coverage, and lower their monthly premiums.

Singletary writes: “With so much fuss and frustration over the open enrollment for the health-care marketplaces, some people might be missing important information about another open-enrollment season. Open enrollment for the exchanges is overlapping and overshadowing the importance of the Medicare open-enrollment period.”
SeniorQuote agrees with the Washington Post. We believe every senior should take advantage of the Open Enrollment Period to compare your current Medicare healthcare coverage against other available plans.

That is why we founded SeniorQuote – to provide you with a trusted resource to comparison shop a wide-range of insurance carriers to find the coverage plan that best fits your budget. Our licensed agents are available to answer all of your questions and help you make the right decision for your family.

Enjoy the Washington Post article. And enjoy the saving money with SeniorQuote during the Open Enrollment Period.

Forbes Magazine Gives Seniors Advice to Save Hundreds of Dollars during Open Enrollment Period

Forbes Magazine has long been recognized as an important resource to the savvy investor. This week, the leading finance magazine weighed in on the importance of shopping carefully during the Open Enrollment Period, the time of year when individuals with Medicare are able to make important changes to their healthcare coverage. Open Enrollment runs from October 15th to December 7th, and provides seniors with the opportunity to adjust their coverage, add dental and prescription drug coverage, and lower their monthly premiums. According to Forbes Magazine, hundreds or thousands of dollars of savings are available during this important period.
SeniorQuote is all about saving money. That is why we founded the company – to provide you with a trusted resource to comparison shop a wide-range of insurance carriers and health insurance coverage plans to find the monthly premium that best fits your budget. Our licensed agents are available to answer all of your questions and help you make the right decision for your family.
We recommend reading the full article, linked above. Forbes provide the following facts and tips for protecting yourself and realizing significant savings during Open Enrollment:

Forbes Facts:

  • 86% of seniors are confused about Open Enrollment and their Medicare Options
  • The government shut-down caused issues with the Medicare.gov website, adding to the confusion
  • There are a number of fraudulent companies and individuals preying on seniors during the Open Enrollment Period
  • Forbes reviews the premium increases planned for Medicare in 2014 and the impact of Obama Care

Forbes Tips:
Tip #1: Don’t take a call from someone you don’t know or trust offering to help you navigate Medicare plans.

Tip #2: Don’t give out any personal information, such as your Medicare number, to unsolicited callers.

Tip #3: Don’t toss the mail you received from your health insurer and competing firms about your 2014 Medicare plan.

Tip #4: Don’t assume that you (or your spouse) have the most appropriate Medicare plan.

Tip #5: Do review your current carrier’s Medicare plan for 2014 to ensure you understand the pending changes. 


Tip #6:
Do understand that you may not necessarily be able to switch from your Medicare Advantage plan to a traditional Medicare plan plus a Medigap plan.


Tip #7:
Do study any changes in your plan’s drug coverage and cost (Part D, if you have traditional Medicare).


Tip #8
  Do seek expert help if you need it. We agree. And our experts at SeniorQuote are here to help.


Tip # 9:
Do take your time, but be sure to make your choices before open enrollment ends.
We couldn’t agree more. Enjoy the article. And enjoy the Open Enrollment Period. This is your best opportunity to save money and improve your health coverage.