All posts by Addison Moreno

Will Medicare Cover More Mental Health Prescriptions In 2013?

Will Medicare Cover More Mental Health Prescriptions In 2013?

Medicare Is raising Mental Health Prescription Insurance

It looks as though at last Medicare personnel are realizing that sound mental health is also a part of sound health. There is good news. Medicare drug coverage will increase the coverage of some mental health insurance prescriptions. This should reduce direct costs for many beneficiaries. There is also some bad news. Plans can choose how to implement your drug coverage, and not everyone can maximize their benefits.

Your individual plan may not increase coverage!

It is very important to review your coverage every year. It is also important to compare various Part D and Medicare Advantage health plans in the market. Another plan may save you more money due to changes. It is also possible that your current plan is best for you. However, in this case, what you do not know can really hurt you!

Find out which mental health medications are covered by various plans.

I would like to describe some simple steps you can take to get more information about changes in mental health service. Here is a basic summary of my suggestions.

Check your current benefits

If you are not satisfied that your current insurer offers maximum coverage for your own situation, see other plans in your area.  You can compare coverage online, with a phone call or by visiting your local pharmacy or a Medicare certified agent.

Use online comparison tools

It has become quite simple for beneficiaries to compare drug plans today. It has a variety of sources of information and ways to verify its benefits. If you are already enrolled in a plan, you can review the documents sent to you for next year. Most insurers also have online tools that help determine which medications are covered and at what level they are covered. The government’s official website at Medicare.gov also has a variety of tools that can help you.

Use your phone

I understand that some older people are still not comfortable using the Internet. While more and more people have computers and smart phones today, not everyone has. In this case, it is still advisable to obtain information. I advise these people to pick up the phone and call their current provider to find out if their own medications will be covered. If they are not covered, it is also time to call and see if another insurer will provide better medication coverage for your individual situation.

Never get used to operating with huge cash

Never get used to operating with huge cash

Seniors are said to be very successful individuals since they are financially stable. But where do seniors get their money from? There are two sources that can be used to explain the reasons why seniors are said to be wealthy and financially stable. Firstly, seniors are people who are basically aged 55 and above and with this number of years, they must have worked, invested and accrued a substantive amount of wealth. Secondly, seniors who have worked for a long period are known to receive a hefty amount of pension that comes on monthly basis. But that is not what we are interested in here. Our interest here is what to do with wealth that are kept in terms of cash.

Reason why you need not to convert all your wealth into cash

Holding a huge amount of cash increased chances of being tempted to spend. Considering that seniors might have worked for a very long period of time and have been longing for that day when they will retire and spend; keeping a lot of cash might lead one astray when the urge to spend sets in. For example, if you have just retired and you have huge cash at your disposal, you might be tempted to spend without proper reasons. In order to avoid spending money without reasoning, then it is important to avoid holding or keeping a lot of cash. Keep in mind the money you save on medicare advantage plans is more money in your pocket.

Secondly, holding a huge amount of cash at your disposal is very risky in the sense that anything can happen. “Anything” in this case could mean theft, burglary and break in. It is very crucial therefore to ensure that you hold a small amount in cash then keep the rest in soft cash. Soft cash could be spend as credit cards or even mobile payments. Liquid cash is very important as you will be saved from uncertainties such as theft and burglary.

Thirdly, it is very easy for seniors to manage their finances when they are in form of cash in the bank and not cash in the pocket. With that idea in mind, if you are a senior who  is about to retire or have already retired, then you need to make sure that you only keep that cash which will be spend on things that require cash. It is better to utilize your debit and credit cards in order to avoid issues related to burglary and other form of loses.

Medicare Advantage Plans in Delaware 2020

Medicare Advantage Plans in Delaware 2020

If you are a senior citizen residing in Delaware, the Medicare Advantage plans can be quite helpful. They cover the expenses of medical bills that are not covered by Original Medicare. In case, you have not purchased, enroll for the advantage plans.

About one-third of Delaware Medicare beneficiaries selects Medicare Advantage Plans in Delaware.  By combining Medicare Original and Advantage Plans, you can enjoy flexibility and affordability. Click here to learn more about the usage of Medicare Advantage plans in Delaware and decide whether they suit your needs.

Enrollment Statistics for Medigap policy

Overview of Medicare enrollment figures in Delaware:

  • There are 170,000 Delaware Medicare beneficiaries
  • Delaware Medigap plan enrollment has 55,000 recipients
  • Plan F is the most popular policy

 

Most populated Delaware counties:

  • New Castle
  • Sussex
  • Kent

 

Calculating premium rates of Medigap plans in Delaware

The three methods used by the insurance companies include:

  1. Issue Age

Premiums will also be calculated based on the age at the time of initial purchase of the plan.

  1. Attained Age

Premiums will be calculated based on current age, and it will increase as you age.

  1. Community Rated

Premiums will be based on an average amount for a given locality regardless of your age.

 

Premiums based on Attained age is the most common pricing system in Delaware and is used by 75% of Medicare Advantages.

What Are the Available Medicare Advantage Plans in Delaware?

The popular standardized Medigap plans include:

  • Plan F

Most expensive and yet the most beneficial plan.

  • Plan N

Lower rates, but expensive  in the form of deductibles and restrictions.

  • Plan G

Similar to Plan F with lower premiums, but this plan won’t pay for Medicare Part B Deductible.

Covering drug Prescription under the Medigap plans in Delaware

The Medigap policy doesn’t cover the drug prescriptions. You need to enroll in Part D for assistance related to medicinal costs and avoid possible penalties later. Hence, it is advisable to compare available Medicare drug plans before the Initial Enrollment period.

When to Enroll in Medicare Advantage Plans in Delaware?

Enrollment in Medicare Part A and Part B enables you to enroll for Medicare Advantage plans anytime. Medigap Open Enrollment Period allows you to apply for first enrollment after turning 65, and six months afterward, without answering any medical questions. In case of lost coverage, you might also qualify for a Special Enrollment Period without submission of health underwriting.

Medicare Part A and Part B enrolled below 65 beneficiaries with a disability might be able to purchase Medigap plans from some insurers. However, rates are a bit higher than people over 65 with Medicare Open Enrollment. When they do turn 65, they can avail the Medicare Advantage plans, as mentioned above.

Using the Medigap policy in other states

You can avail Original Medicare benefits almost everywhere in the country. Some Medicare Advantage plans allow for payment of 80 percent of emergency medical care outside of country too. Delaware Medigap plan can also be used to control deductibles, coinsurance, and co-payments that Part A and B have across the country.

As Medicare Advantage plans are not dependent on network providers, you can enjoy the benefits while travelling. Apart from that, you can retain the same coverage, offered by most insurance companies, while moving away from home. In case of relocation to another state, you need to notify the insurance company so that the premium rates can be calculated accordingly. You can also qualify for the Special Enrollment Period and compare the different options that are available in the new state.

Alabama’s Medicare Advantage Plans

Alabama’s Medicare Advantage Plans

Are you exhausted financially paying your medical bills. You don’t have to be concerned any more. The Medicare Advantage Plans can take care of your health care expenses efficiently. Make sure you enroll right on time.

medicare advantage plansIf you explore the Medicare Advantage Plans in Alabama, you will come across a wide number of choices. Every plan is certified by the Federal Government, offering the same advantages despite the insurance provider you select. You are eligible for Medicare Advantage Plan in Alabama when you enrol in the Part A and Part B of Medicare.

When you exhaust your expense because of Medicare Parts A and B, the Alabama Medicare Advantage Plans can cover the expenditure that is beyond your budget. Every certified insurance company can provide with the Medigap policies of their choices to the customers.

Some statistics to look out for

  • The largest counties in Alabama are:
  • Shelby County
  • Madison County
  • Mobile County
  • Jefferson County
  • Montgomery County
  • You will come across more than 950,000 Medicare beneficiaries in Alabama.
  • Statistics reveal more than 75% of the residents in Alabama are eligible for Medicare, while 23% might not qualify due to disability.
  • Diabetes, arthritis and heart disease are the most dominant chronic health conditions that are experienced by the Medicare recipients in Alabama.

Factors influencing the Medicare Advantage Plans in Alabama

There are a number of factors responsible for the calculation of Medicare Advantage Plans in Alabama.

  • Age
  • Gender
  • Zip Code
  • The payment mode
  • The use of tobacco

The three age associated factors for calculating Medicare

Community Age Rated

The carriers offering Medicare Advantage make use of the community age related factor while calculating the Medicare Advantage Plans. No matter which Medicare plan you choose, you will receive the same benefit.

Attained Age Related

The majority of the Medicare carriers in Alabama offers the Attained Age related system for calculating the plans. This means that the rate of the Medicare increases as you start aging.

Entry-Age Related or Issue Age Rated

Based on the age at the time of your first enrolment, the rate is determined using the Entry-Age related system. It is the said that your premium for the Medicare is lower when you are younger. Hence, earlier the enrolment, the lower is the price.

The number of Medicare Advantage Plans in Alabama

If you are considering Medicare Advantage Plans in Alabama, you can get exposed to 10 Medigap plan options which you can consider. Every Medicare Plan is regulated by the Federal Government. This means that you can receive quotes by visiting https://www.medicareadvantageplans2019.org  and get the same benefits regardless of the insurance company you opt for.

Cover prescription drugs with Medicare

In order to seek the coverage expense for the prescription drugs, you need to enroll for the Medicare Part D in Alabama. Part D comes with a premium on its own and you need to pay along with your original Medigap plan premium.

When can you enroll for the Medicare plans in Alabama?

Perhaps the best time for enrolling is during your initial enrolment period. Things that you should know about it.

  • It starts on your 65th birthday month.
  • The tenure is for six months.
  • Pre-existing health conditions are not included, which saves you money.
  • Legally any insurance company is bound to accept your Medigap plan application.
  • If a premium is paid on time, your application cannot be rejected.

Using Alabama Medicare in other states

Is this even possible. The answer is yes, you can when you are enrolled in Medicare Parts A and B. You can select your choice of doctors and state for treatment. The only restriction is to choose doctors within the Original Medicare plan. In case, you move to another state, notify your insurance company as the premium rate might change.