Article from Philadelphia Inquirer

05/21/2012 Medicare overspends $60 due to fraud and abuse. I suspect that number is significantly larger. Maybe, just maybe, Medicare Advantage Plans, such as Keystone 65 Select in Philadelphia or Bravo Health, in the hands of private insurance carriers, can do a substantially better job in monitoring this abuse. You can read the article here.

Update # 2 on Annual Meeting- American Association for Medicare Supplement Insurance

06/22/2012 There was a lot talk about the White House making a significant push to change the tax structure of Medicare. Specifically, those beneficiaries who wish to retain their “first dollar coverage” (Plans C & F & possibly G) will have a surcharge or tax on their premium. This taxation or penalty on Medicare Supplement Plans or however you want to phrase it, has not happened yet, but it is being pushed very hard. Many, many changes will occur…after the November elections. Stay tuned.

Help With Your Medicare Decision-How to Find an Expert Advisor

05/23/2012 Understanding Medicare and figuring out exactly the right plan at the lowest possible cost can be an extremely frustrating and daunting task-if you attempt to do it alone. I often hear some kind of variation of the following comment: “I consider myself a reasonably intelligent individual, but this Medicare business makes my head spin.” Then add to that equation that, when you turn 65, you get inundated with mail on a daily basis. Much of it is informative, but the shear volume makes things even more challenging.  It is a fact, however,  that you only have one “Open Enrollment Period” and selecting the right plan at that time is quite important; selecting a Medicare plan without truly understanding Medicare and all your options could lead to devastating results. For example, what if you enroll in  a plan that utilizes a network of doctors and hospitals, and you later find out that an important specialist you see doesn’t participate? What happens if you enroll in a plan that has substantial copays? For this and many reasons, it is important to select the right plan, and to seek the help of a professional. So, the question then arises: How to find and select a credible advisor who will care about your best interests? Here are a few tips for searching out a proven, reliable and ethical Medicare Agent. #1. Watch out for those dozens of mailers sent to you directly from insurance carriers. Usually, they will have (800) numbers for you to call. You’ll be calling some sales rep for that carrier only, and she will try to sell you a product from only that one carrier. She employed for the company, she is not working on your behalf. She will try to sell you one of that company’s plans, whether it is or isn’t the right plan for you. #2 Do not work with someone half way around the country. You will receive mailers from companies and individuals who are from distant states. Also, when you surf the internet, many of these listings will be from companies that are far, far away from you. Do you really want to work with advisor that far away? How well versed is he in your specific area? For example, he might not be familiar or even licensed with all of the top carriers in your area, including some of the large local companies. Chances are, if you buy from a company that far away, you won’t be dealing with the same person twice- you’ll be pushed off to different agents each time you call. #3 It is critically important for you to seek out a licensed Medicare specialist– not just an insurance agent that dabbles in Medicare Plans on the side, but an advisor that specialized in Medicare. Some insurance agents try to sell all kinds of insurance, such as final expense, Long term care, critical care, etc. The problem with this is simple- Medicare and medicare products are quite complex and requires the advisor to dedicate a lot of time to learn the ins and outs of Medicare and all the related products. Over 25 years in this business, I have found that a jack of all trades is a master of none. Moral of this story-deal with an expert! #4 Stay Local. Do you really want to deal with a large company halfway around the county or work with a local expert that knows which plans really work best in your area? This is a critically important point! #5  Work with someone who has been in the Medicare business for a long time. Work with someone who answers your phone calls and is able to answer your questions. When you call his number, do you get him, or are you transferred from one person to another ( I hate this!)? Work with an advisor that invests in his business. Does he have a nice website? Does he have a physical office? You’ll know that this person has been in business for a while, and will be able to assist you for many years to come. #6 Get to know the person that you are dealing with. There is nothing like a one hour, face-to-face meeting, either at his office or at your home. He should be able to explain Medicare and all the options,  so you are able to make an informed decision. You will know after that hour if this is a reputable and honest person, that is truly working on your behalf. By using these few tips, you’ll find a reputable agent that will provide you with the advice and service that you need. The agent should be licensed with all the top carriers, and will be paid by the company that you choose. Because of this, he is truly an honest broker, who shares the same exact objective that you have- to get you into the right Medicare Plan, at the lowest possible cost. If you have any questions, do not hesitate to call (215) 658-1776 or read more about Mymedicareadvisor.

Memorial Day

05/28/2012 I want to take a moment to say thank you to all who have served or are serving in the military to protect me, my family and our freedom!  There have been many who have given their lives over the years to protect this country and I want to honor the fallen, as well and their families, who have made the ultimate sacrifice.  These brave soldiers put themselves in harms way to protect the freedom that I have in this country and for that, I am grateful and wish to honor them. May God continue to bless these brave men and women and their families.