Turning 65 & Confused About Your Medicare Options?

05/30/2012 You are not alone! Health Insurance is confusing. Medicare and your Medicare options are that more much complex. You can attempt to do it on your own: Google search many carriers, get quotes from them, educate yourself about all the plans, whether it is Medicare Advantage or Medigap, read through all the literature you have received, do the paperwork by yourself and hope you get it right. Or, you can seek the assistance of a professional advisor who will walk you through the entire process, every step of the way. There are numerous advantages of getting assistance from an Advisor- you will save an enormous amount of time, you will insure that you are getting into the right plan at the lowest cost, and best of all, it shouldn’t cost you a penny- the insurance company that you choose pays the advisor, you don’t! Seek the advise of a professional Medicare Advisor! Here are three types: 1. Look for an independent broker who is licensed with all the top carriers. 2. Stay Local. 3. Work with someone who specializes in Medicare, instead of an insurance agent that merely dabbles in Medicare on the side.  (shameless plug: like MyMedicareAdvisor) Questions? Just call (215) 658-1776. We would love to speak to you!

Want to Change Your Medicare Supplement Plan?

05/31/2012 There is much confusion surrounding when changes to an existing plan can be made. Let me clear-up one very common misconception- if you have a Medicare Supplement Plan, also known as Medigap plan, you are able to make a change anytime during the year. The Annual Enrollment Period that occurs at the end of the year- this only applies to Medicare Advantage Plans and Part D Prescription Plans. So, if you have a Medigap Plan, and you are unhappy with it, or you received a significant rate increase, you are able to change plans or companies at any time.  There is one caveat, however. Depending on the carrier, you will probably have to go through health underwriting. You will need to answer health questions, and you could potentially be turned downed if you are in poor health. Do you have a Medicare Supplement Plan? Have you received a significant rate increase? Call (215) 658-1776 to discuss!

Part One- How Medicare Might Look in the Future-  Premium Support

06/04/2012  Medicare as we know it is financially unsustainable in this country. It is also extremely political. It is my belief that no matter who wins the Presidential election or which party controls Congress, change in the Medicare system is inevitable. Change is a code word. What we are really talking about is the federal government cutting spending on Medicare, which both political parties agree must occur.  We can only hope that our political leaders in Washington can act like adults, and produce meaningful and effective policy. So, what might some changes look like? First, there is the possibility of some type of Premium Support. Premium Support is partial privatization of Medicare where different private companies will vie for your Medicare coverage. A Medicare recipient will get a defined set of dollars, and she will then go out and purchase Medicare healthcare. The thinking goes that this will put the patient in better charge of her healthcare and stimulate intense competition, which will result in lower cost and improved outcomes. Premium Support already exists-  Part D/Prescriptions, Medicare Advantage Plans, and the highly successful Federal Employees Health Program.

Part Two- How Medicare Might Look in the Future-  Geisinger Model

06/05/2012 There was a great cover story in this weeks Time magazine that discussed how Geisinger is radically changing the delivery of health care. Currently, we are all used to fragmented care. We see our primary physician who performs a series of tests. We might see a cardiologist, who performs the same testing. We might see another specialist, who does her own test. Each one of these doctors might prescribe medication, with little regard to what other physicians are doing. Medicare makes seperate payments to providers who care for patients for a single illness, or a course of treatment. This leads to fragmented care with minimal coordination across providers and healthcare settings, such as provider and hospital. Medicare pays based on how much a provider does, nothow well the provider treats the patient.  Makes no sense, right? Well, that’s our current fee for service system-wasteful and possibly detrimental. A few healthcare systems are trying to change this. Geisinger, for example, has had great results-better patient care- with a bundles services approach. A lead doctor will coordinate care across all specialties. Technology will make it easier, less expensive, and provide a better patient experience. The results of this bundled approach are impressive- better outcome for patients and significant cost savings.  Under this bundled payment system, Medicare links payments for multiple services that patients receive during an episode of care.  For example, instead of a surgical procedure generating multiple claims from multiple providers, the entire team is compensated with a “bundled” payment. This radical change, rewarding quality and not quantity, in the delivery of care has led to improved care for patients,  better health, better care and lower costs.