What Is The Texas Health Information Counseling And Advocacy Program
If you are eligible for Medicare, the Texas’ Health Information, Counseling and Advocacy Program can help you enroll, find information and provide counseling about your options. This partnership between the Texas Health and Human Services system, Texas Legal Services Center and the Area Agencies on Aging trains and oversees certified benefits counselors across the state.
Around 40% Of Medicare Advantage Plans Have No Monthly Premium But Did You Know Some Plans Actually Reduce Your Part B Premium
The Medicare giveback benefit, or Part B premium reduction plan, is becoming more available and popular among beneficiaries. Though not an official Medicare program, this benefit is offered by some Medicare Advantage plans and covers some or all of your Part B monthly premium .
While not all plans offer this benefit, it’s possible to find one where you’d pay a reduced premium amount up to $170. This can help maximize your savings while on Medicare, though there are a number of considerations when deciding if these plans are right for you. Read on to learn more about the giveback benefit and how you could qualify.
How Do I Qualify For The Giveback
You may qualify for a premium reduction if you:
- Are enrolled in Part A and Part B
- Do not rely on government or other assistance for your Part B premium
- Live in the zip code service area of a plan that offers this program
- Enroll in an MA plan that provides a giveback benefit
Because not all plans offer this benefit, it’s important to do your research and compare plans, benefits, and costs to ensure you’re making the best decision for you.
Read Also: What Is Social Security Death Benefit
Whos Eligible For Gomedicare
Medicare eligibility is determined by whether you meet one of the conditions listed below:
- It is not enough to be a US citizen or a permanent resident of the United States. You must also have lived in the United States continuously for at least five consecutive years.
- You are 65 years old and have worked long enough to qualify for Social Security or railroad retirement benefits, typically earning 40 credits over about ten years of work, even if you are not yet receiving those benefits Where.
- As a government employee or retired person who did not pay Social Security taxes but paid Medicare payroll taxes, you are not responsible for paying Social Security.
Avoid Marketing Scams During 2022 Medicare Open Enrollment
During Medicares Open Enrollment Period , which begins on October 15 and ends December 7, Medicare beneficiaries can choose the plans that are best for them for 2022. You can get help comparing Medicare plans from your local State Health Insurance Assistance Program , available in each U.S. state, territory, and the District of Columbia. Private insurance companies administer, market, and sell Medicare Advantage and Medicare Prescription Drug Plans , so its important to understand your rights and some of the limits on marketing. That way youll be prepared if an insurance broker or agent tries to enroll you in a Medicare plan that isnt right for you.
Know your rights
If you request an appointment with an agent to visit or call to talk about your Medicare coverage options, remember you have certain rights and agents must follow the law:
- Agents must give you information only about items listed in the scope of appointment form you filled out when you asked for an appointment. They cant talk about other Medicare or insurance products that you didnt ask to talk about.
- Agents cant set their own time limits for you to sign up for a plan. Everyone has until December 7 to enroll, and there arent any extra benefits for signing up early.
- They cant threaten to take away your benefits if you dont sign up for a plan or offer you gifts if you agree to sign up.
- Agents cannot suggest that Medicare endorses or prefers their plan.
Report a marketing violation
You May Like: Tax Benefit On Personal Loan
Threatening A Loss Of Coverage
This scam usually begins with a senior receiving a call that says they must have a prescription drug coverage plan or they will lose their other Medicare benefits. If the senior doesnt purchase a plan during enrollment time, then their Medicare benefits will be terminated. Of course, this caller claims to offer just the right Rx plan for the senior to increase their coverage and safeguard their benefits.
Sound a little too good to be true? Thats because it is. If someone says you must join a plan or buy some sort of coverage to avoid losing your other Medicare benefits, its a scam. The Medicare prescription drug benefit is an entirely optional addition to your coverage under Original Medicare . The same goes for Medigap policies.
Why Is The Medicare Star Rating Important
A Medicare plans star rating is important because it can help you when comparing different plans. You should not use a star rating as the only factor when making a final decision though. Some plans that have fewer than five stars may actually be a better fit for you. Use the Medicare star rating as just a single factor of evaluation. Your health, lifestyle, and financial needs should always be the final determining factors, and its important to read the details of each plan.
Don’t Miss: Tax Benefits Of Cost Segregation Study
Medicare Scammers Banned From Selling Healthcare Products
The scheme took money from seniors bank accounts
The Federal Trade Commission has reached settlements with a group of scammers who falsely promised consumers new Medicare cards in order to obtain their bank account numbers and debit their accounts.
The settlements, resolving charges the FTC filed last year against Benjamin Todd Workman and Glenn Erikson and their companies, ban the schemers from selling healthcare-related products and services.
Study: Brand Name Health Insurance Not Always Better
One of the best-known brands rated in the middle of the pack
Companies advertise in order to build brand awareness with consumers. When it’s decision time, the company is hoping the consumer will pick its brand.
That’s how companies sell everything from beans to automobiles and yes, even health benefit policies. A study by HealthPocket, a company that rates health care policies, has completed a study of how individual policies stack up in the the government’s Medicare plan quality star system. In particular, it focused on one well-known and widely-used branded Medicare Advantage program.
We found that plans bearing the AARP brand in the Medicare Advantage market on average fall short of the industry in two measures of plan quality, the study said.
More than 14 million Americans have Medicare Advantage plans, which supplement coverage under traditional Medicare. The plans are growing in popularity compared to traditional Medicare, and consumers who choose Medicare Advantage coverage have a variety of plan options to compare before making a final decision.
According to HealthPocket, consumers usually base their choices on multiple factors, including premium cost and finding their physician in a plan network. The Medicare plan quality star rating system ranks plans by assigning them a number of stars.
Don’t Miss: When Do Social Security Benefits Become Taxable
Medicare Open Enrollment May Bring More Policy Changes
If you have an Advantage Plan, you can make changes starting Oct. 15
For consumers with Medicare Advantage, the 2015 open enrollment period starts October 15 and extends through December 7, 2014. If you want to make changes to your plan, that’s your window of opportunity.
Medicare Advantage is a type of Medicare health plan purchased through a private company that contracts with Medicare to provide Part A and Part B benefits. Medicare Advantage Plans include Health Maintenance Organizations, Preferred Provider Organizations, Private Fee-for-Service Plans, Special Needs Plans, and Medicare Medical Savings Account Plans.
Being enrolled in a Medicare Advantage Plan means your Medicare services are covered and paid for outside of Original Medicare. Most Medicare Advantage Plans also offer prescription drug coverage.
Medicare Advantage Plan Part C
This type of plan is an additional way to get what Part A and B cover but has additional benefits.
These additional coverage plans are many times called Part C or Medicare Advantage Plans and are offered by separate private companies that have been approved by and must follow rules that are governed by Medicare.
Have a look and read, if you wish, at The official U.S. government Medicare handbook 2022 pdf.
Recommended Reading: Tax Benefits Of Incorporating In Delaware
Pros And Cons You Decide Whats Best
Because many plans are different between plans and providers and even differences in plans that are offered by the same providers can be for example 50% coinsurance or a $50 copayment for a Dental Plan.
Many prefer a Medicare Advantage Plan because many coverages include a prescription drug program, dental, vision, and hearing care are bundled together under one plan. These plans often have lower monthly premiums depending on the coverage of the plan.
Medicare Advantage Plan monthly premiums are typically ranging from $0 to over $100 depending on the coverage.
Some Enrollment Rules
- You can then enroll in a separate Medicare Advantage plan
- When you are eligible to enroll for your Original Medicare
- When you have officially reached the age of 65 or younger, if you have a qualifying disability
- Some plans even offer meals delivery. Plans are based on your location with different eligibility and costs.
- Special Enrollment Period you may be able to qualify for this if you have a life event happening, such as a move, or experience loss of income.
When you see the Free preventive screenings, in the commercials, know that Medicare covers this.
Again, the commercial leads us to believe that we get a huge discount on prescription medications. The normal is that beneficiaries have a 25% responsibility for the cost of medicines. Anyone with Part D drug coverage qualifies automatically after the total drug cost is $4,080, for example.
Switching Back To Original Medicare
While you can save money with a Medicare Advantage Plan when you are healthy, if you get sick in the middle of the year, you are stuck with whatever costs you incur. If you decide that the Medicare Advantage Plan isn’t for you, you have the right under federal law to purchase any Medigap plan if you switch to Original Medicare within 12 months of the date that you joined a Medicare Advantage Plan for the first time.
You may also switch from your Medicare Advantage Plan to Original Medicare during the annual Open Enrollment Period or if you qualify for a Special Enrollment Period. However, you may not be able to purchase a Medigap policy . If you are able to do so, it may cost more than it would have when you first enrolled in Medicare.
Keep in mind that an employer only needs to provide Medigap insurance if you meet specific requirements regarding underwriting . The wait time for Medigap coverage can be avoided if you have what is called a “guaranteed issue right.”
A thorough breakdown of what is considered a “guaranteed issue right,” where an insurance company can’t refuse to sell you a Medigap policy, can be found on the Medicare website.
Most Medigap policies are issue-age rated policies or attained-age rated policies. This means that when you sign up later in life, you will pay more per month than if you had started with the Medigap policy at age 65. You may be able to find a policy that has no age rating, but those are rare.
You May Like: How To Claim Retirement Benefits
Choosing Plans To Benefit You The Most
Many Decisions to make for Expanded Coverage in your Medicare Advantage Plan. Recommend that you consider talking to a broker or consultant to go through every detail with you before you commit to enabling the best coverage for the money and peace of mind for you and your family.
Important Considerations
Find a list of Medicare Advantage Plans that are in your coverage area.
Choosing the Best Type of Plan
- Special Needs Plans
Bottom Line In Choosing Medicare Insurance
Working with an independent professional broker can help you compare the entire health plan selection and enrollment process with no pressure. When you do evaluate health plans be sure to understand
- The insurance costs
Our sole purpose is to get you choices tailored for you and your family to be the best service possible since we can shop around for the absolute best program that suits you by accessing all of the best carriers in your area.
We pinpoint legitimately what you currently pay, what you are entitled to, and benefit from additional coverage the many times people were unaware they qualify.
Many times, additional coverage while spending less, we can help find these answers for you before you decide without rushing you.
Click here for free Government benefits.
Its easy to get more information.
You can look for the form you see on your screen that says something like
Get Help Now and fill it out now.
If you are using your Desktop, then you can fill out the form on the right that you see entitled.
Get Your Life Insurance Quote Now.
Also Check: County Of Orange Employee Benefits
Pros Of Gomedicare Benefits
The only good thing about GoMedicare Benefits is comparing pricing and coverage on plans from multiple companies. This allows shoppers to work with a licensed insurance agent to compare quotes and plans. The problem is the insurance agent might only represent one carrier and will not be getting you the best deal tailored for you.
When comparing plans, pay special attention to the premium rates, of course. Still, the projected out-of-pocket expenses are where you can paint a complete picture of what that plans actual cost entails, such as coinsurance and copayments.
However, this information is entirely useless without knowing the ins and outs and whats best at the best price, and if its available in your state.
You may already know that Original Medicare is hospital insurance and medical insurance that our federal government manages and regulates.
Original Medicare will compare Medicare supplement plans and the prescription drug coverages . These Medicare supplement insurance plans or Medigap plans help to control your out-of-pocket costs provided by private insurers for Medicare beneficiaries and are called Medicare Advantage Plans .
Medicare Advantage plans cover the same services as your Original Medicare and offer qualifying Medigap insurance plans and prescription drug coverage plans.
The purpose of these GoMedicare Benefits TV commercials is to get you to act fast, so buyer beware.
The Best Advice is to
Should I Sign Up For Medical Insurance
With our online application, you can sign up for Medicare Part A and Part B . Because you must pay a premium for Part B coverage, you can turn it down.
If youre eligible at age 65, your initial enrollment period begins three months before your 65th birthday, includes the month you turn age 65, and ends three months after that birthday.
If you choose not to enroll in Medicare Part B and then decide to do so later, your coverage could be delayed and you may have to pay a higher monthly premium for as long as you have Part B. Your monthly premium will go up 10 percent for each 12-month period you were eligible for Part B, but didnt sign up for it, unless you qualify for a “” .
If you dont enroll in Medicare Part B during your initial enrollment period, you have another chance each year to sign up during a general enrollment period from January 1 through March 31. Your coverage begins on July 1 of the year you enroll. Read our publication for more information.
Recommended Reading: Tax Benefits Of Being Self Employed
Paid Endorsement Timestamp: 0: 02
Disclaimer Fine Print
The fine print in the red circles on this screenshot says
Paid endorsement
Extra benefits require enrollment in a Medicare Advantage Plan.
I appreciate Jimmy Walker still, the fact is that this is a paid endorsement, and its somebody who is getting paid to make these comments.
Its not somebody who actually bought the medicare coverage plan from the 800 number but instead an actor who got paid money to talk, so you should know this and always be aware that just because Jimmy says it doesnt mean it will happen. This is because there are many rules and regulations by the Government.
Im stressing that its done over the phone, and there is no guarantee that you will get this insurance.
You may be talking to a pro or talking to a brand new person. Theres no continuity of quality of service, much less the quality of and availability to carriers.
Bottom line, you are calling a call center. The way these people are hired, as theyve brought in, they work during the AP Period , and then theyre fired or let go.
So youre always dealing with new people. Youre never dealing with the same age, and youre not getting service.
You need a pro, and you need pros working with you that will serve us and help you after the sale and whilst you have access to the best carriers! There is no guarantee that Assurance is offering that to you in this call center being decided over the phone.
We have Personal support.
How To Find Plans That Offer The Giveback Benefit
Not all MA plans offer this benefit, so you must find a plan that does to take advantage of the savings opportunity.
To enroll in an MA plan, you must live within its service area. This means you may have a limited number of options, or the reduction program may not be offered by plans in your area.
You can use Medicare’s Plan Finder to find plans in your area that offer the giveback benefit. If you look under the “premiums” section in the Plan Details, plans with a giveback will have a “Part B premium reduction” listing and amount. This tells you the plan offers this program, as well as how much you’ll receive each month.
Depending on how many Medicare Advantage plans are offered in your area, this may take considerable time. Some zip codes only have a few, while others have literally dozens. You can save time and get all of your Medicare questions answered by calling us toll-free and speaking to one of our knowledgeable, licensed Medicare agents. They’ll help you compare your plan options, including the full out-of-pocket cost, make sure the plan you choose includes your prescriptions, and much more.
Read Also: Social Security Disability Widow Benefits