When you need a Medicare supplement to perk up your health care package the first thing many people do before trying to line one up is cringe. They dread the thought of being on the phone until the cows come home trying to find out where they can get the best deal.
All of these expenses can add up very quickly. Depending on the plan this will cover most or all of these additional expenses in Medicare. For people who are just turning 65, a Medigap Plan is extremely easy to obtain. An experienced agent can help make it easier by quickly seeing which plan fits your needs the best. Their first job should be to help you understand all the insurance options you have, and then shop all the best companies so you get the very best rates for your average medicare supplemental insurance premiums.
For me it was that my brother was better-looking and more stylish, a little cooler, just a little nicer. My parents catered to him a little more. It was obvious. So obvious, in fact, that my fiends jokingly referred to him as “The Chosen One”.
Sounds too good to be true, right? But you can’t go to a mall or grocery store without seeing motorized carts and powerized wheelchairs all over the place.
If you qualify, your MAE is a covered expense under Medicare Part B. Medicare will pay 80% of the medicare supplements approved amount after you have satisfied your Part B deductible ($162 in 2011) and you pay the remaining 20%.
For more complete details, search for Section 213(d) (10) on the internet. The IRS does not give an automatic deduction, as they are unaware of LTC premiums. Image the terrible service you or a former agent are providing many buyers if you do give the premium payer this timely information.
Another important consideration is dependent coverage. What if you’re spouse is on the group plan under you as the primary insured? This brings yet another wrinkle into play. If they’re in good health, you may be able to get individual/family insurance for them and then go on Medicare (assuming it makes financial sense). If they have health issues, they may have a Cobra option but only to 18 months (sometimes 36 months). This may change in 2014 but you can expect the cost to change as well (higher). Again, there are many considerations when looking at Group coverage versus Medicare. Of course, we’re happy to help go over your particular situation when you run your Medicare supplement quote.