Special Enrollment Period- Leaving Employer/Union Coverage

06/11/2012 Under normal circumstance, it is important to sign up for Medicare and a Medicare Plan when you turn 65. There are, however, a few exceptions to this rule. One of those exceptions is if you have employer sponsored health coverage. If so, you may qualify for a Special Enrollment Period (SEP),  where you are able to sign up for Part A and enroll in Part B, as well as enroll in a Medicare Plan, such as a Medicare Advantage Plan through Bravo Health or Keystone 65, when you leave employment. It is important to note that COBRA is NOT considered coverage on current employment, and, thus, does not qualify as an SEP. To avoid paying a higher premium for Medicare Part B, it is important to sign up for Medicare when you are first eligible, such as when you are turning 65 or when you leave employment health coverage.

Medicare Advantage Changes- January 2013

8/30/12 Changes to Medicare Advantage Plans are coming! The good news is it appears that premiums will remain the same, or possibly be reduced. More to follow…

How will Obamacare affect Medicare and my Medicare Insurance?

03/01/2013 I have lost track of the number of clients who have asked me how Obamacare will affect their Medicare Advantage plan. As Obamacare grinds along, many seniors are worried that their Medicare coverage will be cut in order to pay for the rest of Obamacare.  On February 15, 2013, the Centers for Medicare and Medicaid Services (CMS) announced over $700 billion in Medicare cuts over the next ten years. Instead of using that savings to strengthen Medicare, most of the money will go toward Obamacare-coverage for those under 65. Approximately half of the savings will come out of Medicare Advantage Plans.  One out of every four seniors buy privately managed health insurance that often includes added benefits such as vision and dental care or chronic-illness management. In exchange, patients agree to stay within a medical network, which helps insurance companies manage their costs.  Medicare Advantage plans have very high levels of consumer satisfaction. The cuts to Medicare Advantage Plans that were recently announced were much larger than expected.  So much so that many of these plans would be unprofitable.  The result?  Many of these plans would be eliminated and tens of millions of seniors would have to change their Medicare Insurance. CMS will come under pressure to revise or reverse the cuts before they are made final on April 1. Some adjustments are possible, but Obamacare will continue to squeeze Medicare Advantage Plans, and hurt those seniors that are in those plans. Unless it is changed, Obamacare will severely restrict the choices seniors have by forcing them into traditional Medicare.  These changes will become effective January 1, 2014.  Hopefully, CMS will modify these cuts, in order to allow seniors to stay in their Medicare Advantage Plans.  Stay tuned.

 Keystone 65 HMO

$0 Premium Plan Available!

 

For more information, call (215) 658-1776 or

 Click Here to Request a Summary of Benefits & Enrollment Kit.

 

© 2012 Independence Blue Cross. Independence Blue Cross is an independent licensee of the Blue Cross and Blue Shield Association, serving the health insurance needs of Philadelphia and southeastern Pennsylvania.